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Online Payment Gateway Philippines to Enhance the Business Globally
We all want to make money as quickly and effectively as we can. But, some initial challenges come with starting a business, and those challenges will always be a possibility. If you are planning to establish an online business globally, the Philippines is the best place.
In the upcoming years, the Philippines will become the hub of e-commerce businesses. So, it is a good time to invest now.For your online businesses, you need a secure and safe online payment gateway for your customers to make the payment hassle-free.
Here, in this blog, we will discuss the benefits of using the most suitable online payment gateway Philippines that is PayCly. So, let's start the discussion.
What is the Future of the E-commerce Market in the Philippines?
What is the Future of the E-commerce Market in the Philippines?
Do you know that approx 67% of the Philippines population is connected to the internet? But the majority of Filipinos continue to transact in cash. Cash continues to reign supreme in the Philippines due to the country's poor payment infrastructure.
However, the government, businesses, organizations, and financial institutions are turning digital since we live in a digitized economy.
With 73 million monthly active users, the Philippines' eCommerce business saw revenues of $17 billion in 2021. With a growth rate of 17% through 2025, this is projected to reach $24 billion. Filipinos working and learning from home due to the COVID-19 pandemic, demand for eCommerce soared.
The average Filipino uses social media sites for 10 hours every day, seven days a week. Facebook, Youtube, Instagram, LinkedIn, and Twitter is the ideal channel for interacting with Filipino consumers.
Philippine telecommunications carriers registered one hundred fifty-nine million mobile customers in 2022. In Southeast Asia, the Philippines has the fastest-growing app market.
A 61% increase from 2019 was recorded in the Philippines Central Bank's 20.1% digital payments from financial transactions in 2020 ($46.8 billion). By 2023, the Central Bank wants 70% of adult Filipinos to be bank customers.
Why do merchants require an online payment gateway to start a business in the Philippines?
Why do merchants require an online payment gateway to start a business in the Philippines?
Well, in a simple sentence, a payment gateway for Philippines is essential to start your online business in the Philippines because the whole nation is going digitally.
According to a recent survey by Bain & Company and Facebook, 57 million or 74% of Filipino customers will be digital by the end of 2020. (above the age of 15). As a result, it is anticipated that between 2020 and 2025, average digital expenditure in Southeast Asia will climb 3.5 times, with 35% of Filipino customers citing online shopping as their preferred buying method.
At the same time, e-wallets have become the third most popular payment method. According to a recent MasterCard Impact Study, the Philippines has the second-highest rate of digital wallet adoption in Southeast Asia, at 36%.
Businesses targeting the customers of the Philippines must set up a payment gateway solution to capitalize on the country's rapid digital transformation.
Phillippines is one of the growing markets. Here, you can find the limited options. We at "PayCly" come forward to solve all the payment-related issues so that you can enhance your online business.
The lash of the latest technology is beneficial for online payments. Let's check what benefits you can get with the PayCly payment gateway Phillippines.
PCI DSS Compliance -
Security is the top priority for any online business in Phillippines. Using this security feature, a person may keep personal information in a portal or gateway. As it safeguards any personal data provided from any cybersecurity dangers, this should be helpful for people who frequently use an app for financial transactions.
Fraud scanning tools -
We PayCly offer you futuristic fraud scanning tools to prevent any fraudulent acts from occurring. Generally, payment service providers generally use -
CCV(Card Code Value)
CVV(Card Verification Value)
AVS (Address Verification Services)
Speed -
With PayCly, Payments are 50% faster. Payment gateways are said to deliver invoices sooner than the standard form of payment.
Demand and Popularity -
Undoubtedly, the effectiveness of a merchant's business operation choice is eventually based on the rapid service offered by payment gateways. Because of this, a business must stay updated with developments that can streamline customer and vendor interactions.
PayCly offers you the latest technology services so that you can gain more and more profits.
User-friendly -
The best thing about PayCly is that it is user-friendly. Its setup can easily be done without any problems. PayCly offers full access to the merchant so that the merchant can easily modify it according to their websites and needs. For this, the merchant doesn't need to be an expert in software or coding work.
Cost-effective -
Most of the service providers offer high charges for high-risk businesses. But we have a reasonable rate, or you can say that the best rate in the market. Our fees depend on your business type, the payment methods you select, and also on your business risk level.
Improve customer satisfaction -
Any company wants to offer seamless, secure services to its clients more than ever. A company should feel secure knowing its branding will be even more safeguarded thanks to the PayCly payment gateway because it can stop data breaches and other cybersecurity issues.
Various Payment options -
With PayCly, you can get various payment options. PayCly offers you the best payment options according to your target locations. Along with credit/debit cards, it also allows one to make payments through alternative payment methods like mobile payments, e-wallets, net banking, etc. We also offer our customers the to make payments through crypto-currency.
Ability to accept multi-currency -
As PayCly, services are available internationally; it hassle-free accepts payment from worldwide. Let the customers pay in their currency and allow them to use their preferred payment method is the best way to gain the customer's trust. It enables you to display prices in a customer's home currency without charging conversion fees to them.
Final Thoughts -
Final Thoughts -
In the upcoming years, the Philippines will become the hub of online businesses. In Southeast Asia, the Philippines has the fastest-growing app market. So, this is the best time to establish the online market in the Philippines.
Today, you can get many service providers in the Philippines, but choosing the best takes time and effort. So, without wasting any time, we recommend you go with PayCly.
PayCly is one of the leading payment service providers. You can say that it is the first choice for most high-risk merchants as it offers many benefits -
PCI DSS Compliance
Fraud scanning tools
Speed
Demand and Popularity
User-friendly
Cost-effective
Improve customer satisfaction
Ability to accept multi-currency
Merchants can directly contact the expert team to finalize the deal.
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