- PesoPay is a service by AsiaPay, an e-payment service provider for merchants and consumers in the Philippines. PesoPay’s focus is to promote the growth of e-Commerce in the Philippines by offering advanced, comprehensive, secure, and integrated payment solutions to meet the needs of the Philippine market.
- Pesopay provides businesses of all types and sizes with secure payment processing solutions that enable them to accept a wide variety of payment methods ranging from online credit/debit, point of sales payment systems, to alternative payment methods such as e-wallets.
- Payment options: PesoPay provides merchants with payment solutions tailored to their business needs that accept payments via credit cards, online bank transfer payments through ATM, over-the-counter payments through banks, and e-wallets such as PayPal.
- Revenue Model: PesoPay charges an annual set-up charge, a transaction commission based on the payments received, and a chargeback handling fee (amounts undisclosed and merchants can coordinate directly with PesoPay for these charges).
- Online purchase with cash payment: According to a World Bank study, only 31% of Filipino adults are banked. Therefore, a majority of the population would not be able to transact online through traditional online payment methods. PesoPay partners with banks and non-banks such as pawnshops to allow customers to purchase online and pay with cash through these partners, thus allowing e-commerce merchants to tap into the large unbanked population.
- Extensive payment services: PesoPay currently offers the widest selection of payment services in the Philippines. Merchants benefit through the potential to acquire a larger customer base by offering more payment options.
How to use it
Merchants can contact PesoPay and have their payment solutions tailored to their business needs.