Before you say you already have too many plastic cards, just continue reading because that was how I initially thought. Now, I’m truly glad I learned about the GCash beep MasterCard at a recent media event.
Just take a quick look at some of these statistics about the financial situation in the Philippines:
* 3 of 4 adults do not have bank accounts
* Even for those who have bank accounts, only about 3% have credit cards
This means that there are still so many Filipinos who have to transact IN CASH because they cannot withdraw from an ATM or charge a purchase to a credit card.
In this day and age of cashless shopping and online payments, this is definitely a huge underserved market which the GCash beep MasterCard hopes to serve.
So what is a GCash beep MasterCard?
From the title alone, you can tell it covers at least 3 features: Tap, Swipe, Shop.
beep (Tap) – Yes, it also acts as a beep card that you can use for those MRT/LRT commutes. It works pretty much like the beep card, the authorized reloadable electronic payment under the unified LRT/MRT ticket system which began last October 2015. Commuters just TAP this card on the entrance/exit terminals and the ride fee is deducted from the card. To top up, holders of the GCash beep MasterCard only need to place it on top of the Stored Value Card reader of the Ticket Vending Machine at any LRT/MRT station, choose the Stored Value option on the screen, insert the corresponding amount of money into the slot, and wait for the transaction receipt to come out.
GCash (Swipe) – The card serves as your plastic money. Cardholders can just SWIPE the card to pay for purchases (grocery, malls, dining, etc). Because it is powered by GCash, you can also buy discounted prepaid Globe/TM load, send money to any Globe/TM user for free, receive remittances, pay bills, and even withdraw cash from any ATM worldwide. You can even check your GCash balance any time and monitor all your transactions.
MasterCard (Shop) – It is a prepaid card that you can use as a debit card for purchases. More than just an ordinary debit card, the GCash beep MasterCard, as its name suggests, is backed by the MasterCard system, the same security system as the MasterCard credit card’s. And…it is accepted in over 40 million MasterCard merchant locations (and ATMs) worldwide!
The card now allows every Filipino cardholder to SHOP online, including app purchases, in-app game purchases, and purchases from online retailers and deal sites. It can be topped up at any of the 10,000 GCash outlets nationwide including Globe Stores, 7-11 convenience stores, SM Department stores, Puregold Supermarkets, and pawnshops like Tambunting and Villarica, among others. GCash subscribers can also use mobile or online banking to fund their GCash beep MasterCard.
Where can one get the GCash beep MasterCard?
It is available at any of 35 select Globe Stores nationwide as well as roving caravans for PhP 150. That amount already includes a prepaid Globe SIM card and PhP 30 in GCash load. A personalized GCash beep MasterCard can be ready for you in just a few minutes. All you need is to present a valid ID.
Ok so the GCash beep MasterCard is good for those who still have no credit card. I have a credit card. What benefit does it give me?
Hey, that was my question too! I thought I could do without one until I realized this was safer than my credit card. When you lose a credit card and don’t realize it is lost for some time, you run the risk that whoever has your card (or even just your card details) could illegally use it to make purchases that could potentially be charged to you. Lately also, it has been alarming that the rate of skimmed ATM cards has been increasing and people have actually been losing money from their accounts.
This GCash beep MasterCard limits my exposure because the maximum I could lose is just the load, nothing more. If I manage this load carefully, I not only limit my risks to scams but I can also budget better because then I can become conscious of what I purchase since it is debited straight away from my account. No more impulse buying!
Get more details about the GCash beep MasterCard by visiting www.GetGCashMC.com.ph.