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Shopify: 5 Best Payment Methods for Filipino Sellers

2021-05-29 18:36:25
  • Sales & Marketing
  • Technology

The past few years have seen the online platform Shopify increasingly being used in the e-commerce industry. In 2020, they were already supporting more than a million merchants located across 175 different countries, earning them revenues north of US$2 billion.

Filipino entrepreneurs have also begun to use Shopify to launch their online business, drawn by the platform’s beginner-friendly user interface and the fantastic client support that it provides. 

But despite the articles and tutorials available online, many of them are still confused about the features that Shopify offers its sellers, particularly the different payment methods that they can use to improve their business operations. 

With that, here are the five best payment methods for Filipino sellers on Shopify.

1. Dragonpay

Thanks to its support for a variety of cash-based and cashless payment methods, Dragonpay is a great option for Filipino online sellers looking to expand their services. Its data encryption provides customers with maximum security while the huge variety of platforms that it supports ensures convenience and ease of use. For instance, buyers may pay using their e-wallets, online bank accounts, or through cash-on-delivery (COD). On the other hand, merchants can remit their sales at physical banks, convenience stores, and even at bills payment centers. 

While Dragonpay doesn’t require online sellers to pay a monthly subscription fee, it does require PHP36,000 to set up an account. This price tag may be concerning for some, but the services that this payment getaway offers are well worth it.  

Best For: Online businesses whose customers don’t have credit or debit cards 

2. GCash 

With more than 20 million users nationwide, GCash is fast becoming the go-to payment method for many online buyers, which is why entrepreneurs would benefit from having it on their store. The platform’s QR code technology makes it reliable and easy to use while its partnership with CIMB Bank Philippines enables merchants to take advantage of the perks of digital banks. 

GCash is also known for its excellent client support, with a hotline that online sellers can call whenever they encounter any issues on the platform. It also automatically deposits daily transactions into their bank account the following day, which is incredibly helpful for those who prefer keeping their earnings in one place.  

Best For: Micro, small, and medium enterprises, as well as online businesses

3. SwiftPay

Another great choice for Filipino entrepreneurs with an online business, SwiftPay provides a convenient self-service channel for buyers to pay for their orders. This platform may be a new addition to the market, but it’s already an option that has proven to be enticing for thousands of merchants, given its lower processing fees and access to more than seven million customers. 

One of the biggest advantages to using SwiftPay is the fact that they enable online buyers to directly pay with their bank accounts. By automatically and securely debiting funds, users no longer have to go through time-consuming processes that irritate them to no end.

Best For: Online businesses whose customers often pay through online bank accounts  

4. PayPal Express Checkout 

As one of the biggest and most recognized payment getaways in the world, PayPal is undoubtedly a great asset to have, especially for Filipino entrepreneurs looking to take their operations international. The smooth and seamless checkout process that the platform provides, as well as its mobile-optimized experience, makes it the number one choice for online buyers and sellers alike. 

In addition to support for at least 25 different currencies, PayPal also enables merchants to receive payment through online invoices, unique links, and email requests. Because of this, even those who don’t have a website can still provide their customers with this payment method. 

Best For: Online businesses with huge operations that are looking to go international 

5. PayMongo 

A fintech startup based in the Philippines, PayMongo allows merchants to receive their sales either through digital methods or over-the-counter cash remittances at physical centers. This can also be easily integrated with Shopify, thanks to the nifty e-commerce plugin that it provides. 

More importantly, PayMongo features advanced fraud detection tools, which means that merchants are guaranteed maximum protection from online scammers. To add to this huge advantage, they can also opt to accept payment through text messages, chats, or emails. 

Best For: Online businesses, independent contractors and freelancers 

Final Thoughts 

There may be a whole host of payment getaways available to Filipino merchants and online buyers; however, these five are undoubtedly miles above the competition. The convenience that they provide for both parties and their easy-to-navigate user interfaces are just a few of the many reasons why these are becoming the go-to payment methods in the Philippines. 

  • Sales & Marketing
  • Technology

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