Allied Wallet, a globally leading provider of mainstream online payment processing, integrated new alternative payment methods to bring the Philippines further into a new age of digital payments.
The Philippines may not have the highest percentage rates of e-commerce adoption, but what makes this region so important for e-commerce growth is its population size. The Philippines has a population of over 105 million people, so while its percentages are lower, its population has so much potential because of its size.
In 2018, Philippine e-commerce had a market revenue of €742 million or about ₱39 million (Philippine Peso). Its annual growth rate projects an expected market volume of €1168 million by 2022.
“Internet usage has grown more than 500% in the Philippines since 2011. This is the fastest rate in southeast Asia, and we want to support this growth,” said CEO Andy Khawaja. “…this e-commerce community is growing and they deserve secure transactions and the ability to buy and sell online with the rest of the world. The more people we can include, the more connected we become globally.”
This region requires more alternative options to service their e-commerce community given that only 3% of the population currently has a credit card.
Solutions like Dragonpay, BancNet, and PayCash offer more cash-based solutions in which someone may deposit money into their account or pay for online goods/services at a physical branch with cash. Globe GCASH is a mobile wallet that enables customers to replenish their eWallet in store or link it to their bank account.
The majority of these options are supported by the largest retail chains in the Philippines as well as many of the region’s largest banks. They create more options for the Filipino population to turn their physical cash into digital cash to spend online.
Allied Wallet is proudly compatible with these payment options to further connect online buyers and sellers, creating more options for online businesses.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com.