Lets directly start with list of different Philippine Payment gateways & E-Wallets for consumers and merchants with detailed iinformation about them.
PayMaya Philippines, Inc. (formerly Smart eMoney, Inc.) is the pioneer in mobile money and payments. PayMaya as a established brands provided the first prepaid online payment app which enables the non bankers and non card holders to pay online without the need of credit cards.
PayMaya main Business is to provide company's system solutions that allows businesses to receive online and card payments anytime, anywhere. SMART Money, the world's first e-wallet services in the Philippines provides a payment service for both merchants and online shoppers.
The e-Wallet linked to a mobile phone and Smart Padala which is the largest domestic remittance brand in the Philippines with more than 15,000 Smart Padala Centers across the country.
Smart Padala also offers international remittance, airtime load selling, bills payment, and reloading of mobile wallet accounts including PayMaya and Smart Money and to address the transactional needs of both the banked and the unbanked in emerging markets.
Also Read: 4 Malaysia Online Payment Methods for Consumers and MerchantsSMART Money allows you to transfer money to 54 million SMART and TNT subscribers nationwide. It allows you to shop online, Pay bills, buy prepaid airtime load by just using your mobile phone, anytime, anywhere. In addition, you can enjoy hassle-free ATM withdrawals and cashless transactions with SMART Money MasterCard.
What are the fees of Smart Money MasterCard?- Instant Card ----------------- Php 100
- Replacement fee ----------- Php 100 (Debited from account)
- Personalized Card --------- Php 100
- Dormancy fee -------------- Php 50 (Debited from account)
For more details about SMART Money, click
here 2) GCash
GCash, telco Globe’s counterpart to Smart Money, is also being used by online sellers and shoppers, and other payment gateways. Start using GCash by registering using these two options; register by dialing *143# for free using your Globe or TM SIM or you can download GCash App on your mobile devices. Make sure to put on your personal information.
GCash is very flexible as you do everything all from your phone. You can pay bills, buy load, shop online, send or receive money or even make a donation. By activating a GCash account users can simply pay bu entering their mobile number linked to their GCash account on the designated ecommerce site. The balance will be deducted from the wallet. It also uses an SMS notification feature that informs the user of transactions.
GCash Maintenance Fees: Dormant wallets (GCash without any monetary transaction such as pay bills, buy load, send money or carded transactions for six months) would charge P50 GCash on every 10th day per month, so that the wallet remains dormant. The Charges would start on 7th month of inactivity.
Click
here to know more about GCash fees.
Also Read: 5 Good Signs of E-Commerce in 2017 in ASEAN LensB) Philippine Payment gateways for consumers and merchants
DragonPay propelled in 2010 amid the height of everyday bargains in the Philippines, planning to offer option for payment methods for ecommerce sites in the Philippines. Today, DragonPay has several merchants utilizing the payment system in the ranges of every day bargains, retail, travel, and other online stores.
DragonPay is an online payment platform which allows customers to buy online from different e-commerce merchants without using traditional forms of payments like credit card and PayPal. Instead, the buyers can pay by using online banking facility or pay cash over-the-counter (banking or non-banking) at physical retail channels.
DragonPay automatically monitors the online as well as offline payments and notify merchants about the completed payment so that they can ship their goods or render the service.
Dragonpay currently supports over-the-counter (OTC) non-bank outlets are Bayad Center, SM Payment Counters, LBC branches, Cebuana Lhuillier, Robinsons Department Stores (RDS) and M.Lhuillier branches nationwide.
Merchant fees: For integrating DragonPay into an ecommerce site there is a one time setup fees of Php 28,000 (US$633). DragonPay charges merchants per payment.
DragonPay Fees are as follows: Php 15 (US$0.34) for over-the-counter payments, Php 10 (US$0.23) for online banking payments and Php 20 (US$0.45) for payments done at non-bank partners.
Merchants who sell items for Php 200 (US$4.52) and below can opt for the micro-payment plan, in which the charge will be 5 percent of the total transaction.
PesoPay is a service by e-payment service provider AsiaPay, which focuses on providing payment options for customers and Traders in the Philippines. Like any other payment gateways the PesoPay payment system can easily be integrated to any site. PesoPay primarily focuses on promoting the growth of e-Commerce buisness in the Philippines by offering advance, comprehensive, secure and integrate payment solutions to meet the needs of the Philippine market.
Payment options: It accepts payments via credit cards (such as Visa, Mastercard, American Express and JCB), over-the-counter payments through banks (RCBC and BDO), online bank transfer payments through ATM consortium Bancnet, non-bank payment partners such as pawnshops and other brick-and-mortar shops, and PayPal.
Merchant fees: PesoPay charges an annual set-up charge, a chargeback handling fee (amounts remain undisclosed and merchants can directly coordinate with PesoPay for these charges) and a transaction commission based on the total payments received.
Paynamics Technologies is an Internet Payment Solution Provider which was founded in 2010 by former employees of Wirecard AG. Paynamics founders have instilled all of their knowledge and experience they have learned their employer and applied it to Paynamics. Developers of Paynamics (Filipino developers), has developed a world class internet payment gateway system called “
Paygate”.
Paygate is currently connected to more than 20 global acquiring banks and service providers. Paygate is also used by a multitude of merchants as their last mile connection to these acquiring banks.
Merchants here operates at both high risk and low risk business models. Paynamics online payment gateway allows merchants to get their payments from any corner of the world. We provide merchant accounts both domestic and international.
Payment options: Supports credit card like JCB and VISA, Bancnet, Paypal, Gcash, and other Global Payment Options.
| About the Guest Author:
Nabihah Jasri is an intern researcher for a marketing department in a fintech company.