If you’ve been hesitant to transfer funds to other banks using Gcash, worry no more! The Ayala-led fintech company has now enabled safe transfer of funds to other banks via QR code.
According to a Gcash advisory, this new feature allows users to now easily transfer funds to other bank accounts without the need for complicated account details or lengthy transaction processes. The QR code functionality simplifies the transfer process and makes it easier for users to securely transfer funds.
To initiate a bank transfer, sender will only need to request for a QR code of the recipient. Once the QR code is available, the sender will only have to tap the QR icon on the Gcash mobile application then scan or upload the recipient’s QR to initiate a bank transfer.
Upon scanning or uploading the QR, the system will then prompt the sender to enter the amount to be transferred. it will then refresh to reflect the last four digits of the receiver’s bank account number, the name of the recipient, and the email address where the transaction’s receipt would be sent.