Major Banks Prepare Apple Pay Rollout as GCash Counters With Card-Linking Feature
Updated
Updated · InsiderPH · Aug 3
Major Banks Prepare Apple Pay Rollout as GCash Counters With Card-Linking Feature
3 articles · Updated · InsiderPH · Aug 3
Summary
Support for Apple Pay could be unveiled by a handful of major banks as early as midweek, with at least one digital lender included in the initial launch.
Recent app updates from other lenders suggest the rollout may spread beyond the first group, extending a push by banks to catch up in mobile payments.
The move follows banks' recent cuts to digital transfer fees, including full fee removals by the biggest players, as they compete for customers seeking simpler digital transactions.
GCash, the country's largest fintech, has already responded with a Visa and Mastercard card-linking feature that mirrors part of Apple Pay's tap-to-pay convenience.
That sets up a broader payments battle between banks and mobile-wallet leaders, with intensifying competition likely to benefit consumers.