GCash has certainly utilized different ways to leverage technology to make payments and money movements easier for everyone. Setting up your own partner outlet is included. Now you don’t even need to go to any office to set up your new account. You just need your GCash app to start.
This definitely lowers the bar for anyone who wants to opt-in, as the requirements are all coursed through the app, without needing to spend some time going to a physical location to register.
What is a GCash Partner Outlet?
Basically, this means as a merchant you are officially becoming GCash accredited for all transactions. Understandably, some sari-sari stores do this already but use the owner’s personal GCash account. Some are savvy enough to use their personal QR codes.
However, having official accreditation means more protection for GCash users as official partner outlets won’t charge extra fees and merchants would also be able to earn commissions from doing certain transactions for the users. Additionally, it enables merchants to provide value-added services that only partner outlets can do (ex., GCash Padala).
What benefits would I get if I set up my own partner outlet?
- You get 0.5% of any cash-in, cash out and padala transaction.
- You get Php 3 per biller transaction that goes through your account.
- You get free signage kits from GCash.
- You get to be officially listed in the main GCash Padala providers as free marketing.
- You get a separate merchant wallet with Php 500k limit.
Unfortunately, the services listed above are the only ones with commissions currently.
What services can I provide as a GCash Partner Outlet?
Currently here is the list of services you can provide:
- Cash In
- Cash Out
- Pay Bills
- Buy Load
- Pay QR
Eventually, as more merchants come on board, more features may become available.
What’s the difference of GCash Partner Outlets from GCash Payments acceptance?
GCash Partner Outlets are mainly for existing stores providing GCash services to users. Usually, it is the sari-sari stores that become GCash Partner Outlets as they can potentially offer extra income. If you are a GCash Partner Outlet, you can also accept GCash QR Payments.
How do I become a GCash Partner Outlet?
Everything you need is right in the GCash app, go to GLife and search for GCash PO. Once inside, you can then apply your store as a partner outlet.
What are the requirements I need?
First is you need to have a storefront, meaning you should own a store so that customers can transact with you publicly. Usually, sari-sari stores are the majority of GCash Partner Outlets out there. But it does not mean that you need to be a sari-sari store to be accepted.
Another requirement is a separate phone for Partner Outlet transactions. I would suggest you as the owner do the actual GCash PO application itself in a separate GCash account. Creating multiple accounts is easy, but you will still need to undergo verification for the new account.
For the GCash verification, you would need a valid ID from this list:
- Driver’s License
- PhilHealth ID
- Voters ID
- Pag-IBIG ID
- Postal ID
- PRC ID
- National ID
- Alien Certificate of Registration (ACR I-Card)
If you don’t have an ID from this list, you need to file a Help Support ticket to help in your verification.
As for the GCash PO application itself, you would need to take pictures of:
- Barangay Business Permit
- DTI Registration
- Mayor’s Permit
- A picture of your storefront with you as the owner
- A selfie
Lastly, you would also need to build up your Anti Money Laundering Act (AMLA) knowledge as there will be an exam. There will be a training video to watch before that, fortunately.
How do I start my application?
Here are the steps for registering as a GCash Partner Outlet:
- From the GCash PO Apply page, start an application.
- On the succeeding pages, input the details required in the form, as well as upload the needed photos. Once application is filed, there is a lead time of 3-5 days of review before you are approved or rejected.
- From the GCash PO main page, there should be a selection to take the Anti Money Laundering (AML) Module.
- Input the requirements, watch the Anti Money Laundering Act (AMLA) video and take a short exam to finish the application. Don’t worry if you get the AMLA exam wrong, you can take it as many times as you like. Passing rate is 11/15 correct answers.
AML Module screenshots:
Why do we need to do Anti Money Laundering Act (AMLA) testing?
This is a requirement of the BSP for any entity that handles funds like GCash as they have the mandate to stop money laundering and terrorist financing.
As GCash Partner Outlets are the front liners in accepting and releasing funds to many people, it is vital for everyone to be at least knowledgeable on AMLA and report suspicious fund transfers.
What are the notable points of AMLA to help me answer the exam?
Here is the actual law if you want to read the whole thing. But I’ve also condensed it into a summary for easier reading below:
- The AMLA, or The Anti Money Laundering Act of 2001 is also known as Republic Act No. 9160.
- Money Laundering is a crime where “dirty money” or money used in illegal activities are used in transactions to make them appear as legitimate.
- Some direct penalties include:
- 7-14 years imprisonment (and a fine of more than Php 3M) for the act of transacting using dirty money itself
- 4-7 years imprisonment (and a fine of Php 1.5 – Php 3M) for enabling the transaction of dirty money
- 6 months to 4 years imprisonment (and a fine of Php 100k – Php 500k) for failing to report transactions of dirty money
- Unlawful Activities are the crimes that generate the dirty money. The list includes:
- Kidnapping for ransom
- Drug trafficking and related offenses
- Graft and corrupt practices
- Robbery and Extortion
- Jueteng and Masiao
- Qualified theft
- Violations under the Electronic Commerce Act of 2000
- Hijacking; destructive arson; and murder, including those perpetrated by terrorists against non-combatant persons and similar targets
- Fraudulent practices and other violations under the Securities Regulation Code of 2000
- Felonies or offenses of a similar nature that are punishable under the penal laws of other countries
- Terrorism financing and organizing or directing others to commit terrorism financing (R.A. 10168)
- Attempt/conspiracy to commit terrorism financing and organizing or directing others to commit terrorism financing (R.A. 10168)
- Attempt/conspiracy to commit dealing with property or funds of designated person
- Accomplice to terrorism financing or conspiracy to commit terrorism financing
- Accessory to terrorism financing
- The AMLC (Anti Money Laundering Council) consists of:
- The governor of the BSP as chairman
- The commissioner of the Insurance Commission
- The chairman of the SEC
- Covered transactions are transactions that amount to Php 500k in one given day.
- Suspicious transactions are transactions, regardless the amount that has these circumstances:
- There is no economic justification.
- The client is not properly identified.
- The amount does not match with the financial capacity of the client.
- The transaction seems to avoid being subjected to reporting requirements.
- The transaction seems to deviate from what the client normally does with past transactions.
- The transaction is connected to an unlawful activity.
- Any transaction that is similar to what was mentioned above
- Covered institutions are mandated by the AMLA to submit reports of covered and suspicious transactions to the AMLC. These are:
- Banks supervised by BSP
- Insurance companies regulated by the Insurance Commission
- Dealers of securities that are supervised by the SEC
- Any reports to the AMLC should be confidential, otherwise the penalty is 3-8 years and has a fine of Php 500k – Php 1M.
- Records of transactions should be saved for 5 years. Penalties if not followed include 6 months – 1 year imprisonment and a fine of Php 100k – Php 500k.
- False or malicious reporting also has a penalty of 6 months – 1 year imprisonment and a fine of Php 100k – Php 500k.
- The AMLC can file a freeze order with the Court of Appeals for any funds that may be connected to unlawful actitivies. The freeze order is good for 20 days until extended.
- The AMLC can examine any bank deposit or investment if there is probable cause that violates the AMLA.
I’ve talked about how to apply for becoming a GCash Partner Outlet. This allows you to earn extra from helping customers with their GCash transactions. The main requirement is you need to have a store and you also need the permits you acquired in running that store. You also need to pass a small Anti-Money Laundering Act (AMLA) related exam.
Applications are easy as you can do that from within the app, via GLife and GCash PO.
If you’d like to learn more about GCash, I created a how-to on the basics of GCash.
Here is a list of links if you’re interested in the main GCash features: