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| The Coins.ph logo. Coins.ph is one of the leading digital wallets and bitcoin trading platform in the Philippines. It has started its operations on year 2014. |
How do you usually pay your bills? Auto-debit? Bank Transfer? Bills Payment through Internet banking? Or how about paying through mobile wallets such as coins.ph, Gcash, or Paymaya? How do you usually do shopping? Do you do it online? Are you using your debit cards in paying your purchases?
According to the World Payments Report 2017 released by Capgemini, global digital payments volumes are predicted to increase by an average 10.9 percent through 2020, reaching nearly 726 billion transactions. This report does not even include those that are taking place through Blockchain technology-- the most popular among them is bitcoin.
With the rise of digital payments, due mainly to the ubiquity of the internet, no wonder a lot of Companies nowadays especially those from the banking and financial markets evolve to fill the demand and obviously to survive in an ever-changing business environment. Some of these Companies that are worth looking at are those that you might not heard of. The likes of Gcash, Paymaya, Coins.ph, Alipay, GetgGo, among others. Each of this Company is unique but they have something in common-- to dominate the digital payments market in the Country.
First from our list is Gcash. Gcash is a payment platform that transforms the mobile phone into a virtual wallet. It is operated by Mynt, a wholly owned financial services subsidiary of Globe Telecom. Gcash has several payment capabilities. First, it can be used to pay your bills such as water, electricity and so on. Second, it can be used to buy prepaid loads to all networks and even loads that can be used for skype mobile, steam, and cignal tv.
Another good feature of Gcash is it can be linked to Mastercard and American Express which you can use to buy anything online. On top of that the mobile app can also be used to book movies, buy food and groceries by simply using your phone's camera. Have you seen those weird photos and images consisting of an array of black and white squares posted in public areas? Those are QR Codes which are mainly to store information about a certain item. And these codes have been widely used to do payment transactions.
