By Emmie V. Abadilla
Puregold, one of the country’s biggest supermarket chains, expects to triple its sales growth this year, luring in more customers as its partnership with GCash mobile payment solution speeds up sales transactions from 4-5 seconds to 1 second each.
Right now, Puregold averages P40-50 million sales a month, or anywhere from P480 million to P600 million per annum, with an average value of P2,000 to P2,500 per transaction.
However, the supermarket chain the other day changed its barcode scanning payment scheme from QR (Quick Response) code to Scan to Pay (STP) via Barcode integrated into its point of sale (POS) to streamline payment system and speed up transactions.
“This is the first time such barcode scanning payment system will be used in the Philippines and we are proud to be GCash’s partner merchant for this. This aligns with our vision to be the most customer-oriented hypermart that offers one-top shopping convenience and the best value to Filipinos,” announced Puregold President Ferdinand Vincent Co.
“We are expecting our revenues to grow from 8 to 10 per cent in 2019,” says Puregold Vice President for Operations Antonio de los Santos. “An innovation like the use of GCash STP can bring double-digit growth because it can attract more shoppers.”
So far, “Puregold was the first national supermarket chain to accept mobile payments via GCash, and it continues to be a strong partner in our work of building a cashless ecosystem that will lead to a more financially inclusive Philippines,” according to Anthony Thomas, Chief Executive Officer of Mynt (Globe Fintech Innovations), the company which operates GCash.
At present, Puregold has 367 stores nationwide accepting GCash’s STP and offering cash in to the app. It is also the top merchant partner for which GCredit, the fully mobile credit line of GCash, is used.
The GCash mobile wallet has 20 million users and over 50,000 partner merchants in the country todate. It offers a suite of financial services and merchant and enterprise solutions accessible through the app.
To use GCash’s STP via barcode, Puregold customers need to generate a barcode through their GCash app when the cashier completes scanning all their purchases. They will then show this barcode to the cashier, who will scan it and receive notification of payment via the POS. The barcode will already include all promos that may be applied to the purchase.
The STP via barcode eliminates the merchant need for a QR key card or the handset that will receive the GCash reference number as proof of transaction, streamlining the payment system. Customers also no longer need to input the amount due for payment in their GCash app because it will be automatically deducted from their account.
“We are constantly looking for ways to make financial transactions easier and more convenient for people. With this STP via barcode system we are introducing with Puregold, we hope to encourage more Filipinos to go cashless,” Thomas concluded.