Digital payments in the Philippines are advancing with the introduction of Tap to Pay, a new contactless payment system. The system offers a convenient, quick, and secure transaction method for customers.
Developed through a collaboration between Singapore-based fintech firm Open Fabric and GCash, the NFC payments aim to modernise payment methods for Filipinos.
The collaboration has facilitated faster integration with Mastercard. The new technological platform allows GCash users to make payments to Mastercard-accepting merchants across the Philippines. It also offers a secure and more convenient way to transact.
The system utilises Open Fabric’s encrypted tokenisation transaction technology. It intends to ensure payments remain secure and functional even in areas with limited connectivity.
Tap to Pay enables GCash users to complete transactions by simply tapping their NFC-enabled Android phone on compatible point-of-sale (POS) terminals. These terminals must accept card payments. Such capability enhances the use of the GCash app. Users can now pay with GCash at any merchant that accepts Mastercard throughout the Philippines.
Ferdie Perez, GCash Vice President and Head of Product Innovation, commented on the collaboration. He stated that GCash continually works to improve digital payments to provide a faster, more secure, and inclusive cashless experience for Filipinos.
“We believe that ensuring tech leadership is critical, and with the Open Fabric platform helping enable Tap to Pay, the next stage of digital transactions is achieved — and one that aligns with the pace of the country’s fast-evolving digital economy,” Ferdie continued.
This development reflects a broader global trend towards ‘tap and go’ payments. It is a method already established in countries like Singapore, Japan, and the United States. With Open Fabric’s infrastructure, the collaboration aims to provide Filipinos with similar levels of efficiency and security.
Soma Ramasamy, Founder and CEO of Open Fabric, noted that GCash’s Tap to Pay solution demonstrates how account tokenisation and contactless technology can address gaps in financial access.
