If you own a small business in the Philippines, you know that managing payments can be a real headache because of issues like delayed transactions and customer preferences. But everything changes when you know the payment systems that can make your life easier.
You should seek something that processes payments quickly and integrates easily with your website or online store.
As you can see from the list of GCash Online Casinos in the Philippines, GCash is a favorite payment option for many businesses. However, several others are great to use, and it’s time you get acquainted with them. This guide will discuss the top 10 payment systems for small businesses in the Philippines.
GCash
If you were to survey random Filipinos about the most popular payment system in the Philippines, the answer you’ll most likely hear is GCash. So, there’s no doubt that it’s the leading mobile wallet system for small business owners in the country. GCash users can pay by scanning QR codes, making purchases online, and integrating the digital wallet with local banks to transfer funds.
As a plus, GCash is ideal for bill payments, daily remittances, and mobile load purchases, making it the perfect option for your daily financial needs. To summarize, GCash has solid security measures to keep your transactions safe and has played a big part in the evolution of online casino games.
Maya
Maya was once known as PayMaya. Like GCash, it’s a versatile and well-accepted payment system in the Philippines. Maya offers its users virtual and physical Visa and MasterCard debit cards, enabling them to carry out transactions online and offline.
The best part is that Maya enables cryptocurrency transactions that appeal to tech-savvy users and gives the platform access to a niche target market. Like all other top payment platforms, Maya has impressive security features to protect your transactions and a user-friendly interface.
PayMongo
PayMongo is more of a platform that enables users to facilitate online payments through other means. It supports diverse payment options such as credit and debit cards, e-wallets like GCash or Maya, over-the-counter payments, and online banking.
What we love about PayMongo is that it’s accessible to businesses of all sizes because it can integrate with any website or mobile app. It’s straightforward to set up, and its interface is beginner-friendly. However, the icing on the cake that sets it apart from other payment systems is that it comes with features like customizable checkout pages and payment links.
Dragonpay
Dragonpay, just like PayMongo, offers diverse payment channels that appeal to various customer preferences. However, Dragonpay is popular among small business owners and casino players because it enables them to make payments without a credit/debit card or a bank account.
As a result, it’s ideal for those who aren’t comfortable revealing their banking information due to fear of hackers. Dragonpay is a common payment option in virtual reality casinos. It has unique features, such as recurring payments and mass payouts, that suit many small businesses.
PayPal
PayPal is one of the most popular international online payment platforms, with a strong presence in the Philippines. It enables users to make payments online, send invoices to clients, and integrate smoothly with e-commerce platforms. We love PayPal because it’s trusted by users worldwide and supports multiple currencies.
We also recommend it to small business owners who want to reach international customers. But there’s a catch—its transaction fees may be higher than those of other payment systems.
NOWPayments
If you prefer cryptocurrencies for your transactions, NOWPayments is your go-to payment system. It supports over 300 cryptocurrencies, including Bitcoin and Ethereum, integrates with e-commerce platforms, and enables invoicing for small business owners.
NOWPayments is a very appealing option because it’s a non-custodial service. In layman’s terms, it directly transfers funds to the users’ wallets (without going through a middleman), making your transactions highly secure. The best part about NOWPayments is that, though it’s cryptocurrency-based, it supports conversion to fiat currencies for a fee of 0.5%.
QR Ph
QR Ph is the Philippines’ standard for QR codes. It was developed to unify various payment platforms under a single platform. It enables users to use their phones to scan a merchant’s QR code and make payments instantly.
QR Ph simplifies payments and promotes cashless payments, which is impressive. It also enhances financial inclusion by enabling banks and e-wallets to operate together.
GrabPay
GrabPay is quite popular in Southeast Asia as it offers in-app payments for Grab services and facilitates money transfers. The payment system is also compatible with QR Ph, making payments by scanning more popular. Its core user base comprises Grab users, but with the growing acceptance among merchants, Grabpay is well on its way to a larger target market.
BanKo
BanKo is a different payment system because it’s designed to be a mobile-based savings bank for small business owners and Filipinos without a bank account. According to Hiraya Alonto, a professional content maker and senior advisor at Casino10, it enables users to have savings accounts without maintaining balance. He also stated that they give microloans and provide mobile banking services.
2C2P
No list of top payment systems for small businesses in the Philippines would be complete without 2C2P. It supports over 400 payment methods, including QR codes, e-wallets, credit/debit cards, and alternative payment options like cryptocurrencies.
We love 2C2P because it offers the buy now, pay later option and can process mass payouts. If you’re looking for a payment system connecting you with banks, money transfer, and mobile wallet operators in the region, there’s no better option than 2C2P.
Conclusion
If you want to succeed as a small business owner, choose the right payment system. We advise you to look for one that simplifies financial transactions, gives customers a good experience, and supports business growth.
If this list overwhelms you and you’re still clueless about which payment option to choose, simply assess your business needs and select the platform that meets those needs the most. For instance, if you prefer to operate locally, GCash is a great option. On the other hand, if you aim to break into the international market, PayPal and NOWPayments will do the job.