In this digital era, payment gateways are essential for enabling smooth transactions for businesses in the Philippines. As the market continues to expand, it becomes increasingly important to identify the best payment gateway to provide a seamless and secure experience for both merchants and customers.
Now here’s good news for small business owners who wish to sell anywhere (both online and in-person) and be able to accept all kinds of payment methods!
Aside from helping you accept payments, HitPay PH also offers free business tools like invoicing, payment links, and even an online store. (IMAGE CREDIT: https://blog.hitpayapp.com/)
HitPay, a Singapore-based payment platform for small and medium-sized enterprises (SMEs), recently partnered with Philippine-based super app GCash to extend cashless and credit payments for Philippine merchants.
Following the partnership, businesses in the Philippines can now accept payments via three new payment methods on HitPay’s payment gateway: GCash, GGives, and GCredit.
GCash is a super app that allows Filipinos to buy prepaid airtime, pay bills, send and receive money, as well as purchase from over 6 million partner merchants/social sellers, and get access to savings, credit, loans, insurance and invest money.
With millions of users in the Philippines, it also allows for access to financial services such as sending money, making donations, as well as shopping online. Moreover, the app allows its users to pay without the need for a physical card or cash.
GGives is an instalment payment method that provides customers with the option to purchase items and then pay for them over time. When customers choose GGives at checkout, they can also opt for a payment plan that aligns with their budget and needs.
The value of the purchase is divided into equal payments distributed across several months. GGives handles the payment processing and transfers the funds to the merchant, offering flexibility and convenience for shoppers – all while purportedly boosting sales for merchants.
GCredit, on the other hand, is a payment solution extended by GCash in partnership with CIMB Bank. It aims to offer users a credit line directly on their mobile devices, thus granting users access to a revolving credit line of up to around USD 500, with interest rates starting from 0.17% daily and instant approval, minus the need for collaterals or extra documentation.
The partnership is anticipated to bring about benefits for HitPay merchants in the Philippines, such as an enhanced checkout experience, good GCash rates, and more payment options for their customers.
More about HitPay
HitPay is an all-in-one commerce platform that is licensed by the Bangko Sentral ng Pilipinas (BSP) as an Operator of Payment that offers digital payments for SMEs. The platform is reportedly used by thousands of businesses across the Philippines, Southeast Asia, and other global markets.
This is not the first time the payment platform has expanded its payment options for its Filipino users. Earlier in 2023, the company had joined forces with BNPL and BillEase, a finance app, to offer card-free instalment payments to customers in the country.
Also in 2023, the fintech firm partnered with Visa to launch a contactless card – in a bid to drive financial inclusion in the Philippines by giving the unbanked access to the benefits associated with owning a card.