GCash to Waive QRPh Transaction Fees for Micro-Merchants Until End of 2023by Fintech News Philippines August 24, 2023
Philippines’ mobile wallet GCash will be waiving the QRPh transaction fees or merchant discount rates (MDRs) for micro-merchants using the scan-to-pay service until the end of 2023 according to a report by the Manila Bulletin.
GCash’s scan-to-pay service enables merchants to track payments efficiently without any added cost to their customers.
This move was intended to encourage micro-merchants such as sari-sari store owners, public market vendors and small online sellers to embrace digitalisation.
Additionally, these merchants will also have an expanded wallet limit of up to PHP 500,000 per month. On top of that, a 1.5 percent transaction fee will be waived for gross sales of up to PHP100,000.
According to the report, Ren-Ren Reyes, President and CEO of G-Xchange Inc., the mobile wallet operator of GCash said,
“For GCash, making this service free means micro-entrepreneurs can earn a little extra for their families through safe cashless transactions.
We are committed to working with our micro-entrepreneurs to achieve their business goals in the digital economy.”