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Payment Gateway Philippines to Provide Surplus Payment Capacity to Merchants

The Philippines is one of the most mobile and underappreciated e-commerce markets. As the second-most populous country in Southeast Asia, the Philippines' eCommerce market is expected to grow in the years to come, owing primarily to high internet usage and mobile penetration.

The internet penetration rate is less than 50%, and the majority of the population is still under-banked if not unbanked. These market and demographic factors influence how Filipinos prefer to pay online in a variety of ways.

Previously the e-commerce market has a low level of credit card usage and Cash-on-delivery and bank transfers were among some of the popular payment methods used by Filipinos. But with the rapid growth in digitalization, mobile phones are the new payment channels and credit cards hold a more significant place rather than a shopping card.

Filipinos relies on multiple payment options for securing business

eCommerce and online merchants can now make it easier for customers to buy their products. Accepting only one type of payment can bring in a completely new customer base, but it can also work the other way around.

Refusing only one type of payment can result in a significant drop in your company's customer base. Unlike large corporations, which can afford to lose some customers because they are stable in the first place, small businesses rely on each and every one of them.

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As a result, it is in the best interests of businesses to accept all possible forms of payment.

PayCly offers payment flexibility through its end-to-end digital payment solutions, which are tailored to the various payment acceptance needs of businesses in the Philippines. Our Best Payment Gateway Philippines allows businesses to accept payments directly on their website or app easily create and send online invoices, quickly process payments and receive payments via email or SMS.

Before we get into the various types of payments and the benefits they provide, let's take a look at some of the benefits that online payment methods have to offer.

The Merchants in Philippines Have in Store the most Secured Online Payment Transactions

The most important advantage of payment gateways is the protection they offer sellers and buyers against fraud.

Payment gateways encrypt all sensitive data and transmit it using SSL security technology. This prevents hackers from accessing the customer's payment information, ensuring that funds reach the merchant safely.

Preventing customer data breaches contributes to your company's credibility. Customers are more likely to purchase from you if they believe their confidential information is always secure.

Payment authentication is yet another critical security feature of payment gateways.

Because online shoppers do not present their physical card to the merchant when paying for their purchase, it is unclear whether every credit card payment made online is legitimate. Customers are also at risk of having an insufficient debit card balance, exceeding their credit limit, or using expired cards.

Payment gateways collaborate with payment processors to ensure that payments are both valid and legitimate in order to protect merchants from bogus buyers and invalid transactions.

When you first start out in the world of eCommerce, one of the most important things you need to do is choose an appropriate payment gateway when developing your website.

Small business owners are always looking for ways to increase market share and generate new leads, regardless of where they are based. Even if a small business owner is able to develop and implement a successful lead generation process, he or she still needs a secure, low-cost method of accepting credit card payments. A merchant account is required for a small business owner to accept credit cards.

The Next big thing in future that really matters is the fast processing speed

Consider how much time and effort you and your customers will waste if you don't use a payment gateway.

Because they handle all of the processing and security measures, online payment gateways make it simple to accept payments from customers.

An all-in-one gateway service is especially beneficial to small businesses with limited manpower and resources to manually process payments.

When receiving bank payments, for example, there will be back-and-forth communication between your team and the customer.

Transactions are verified and completed in an instant when using a payment gateway. You do not need to manually record all transactions because the gateway service will do it for you. You can let the payment gateway handle the processing while you concentrate on running your business.

PayCly is Resourceful in Making your Business more Efficient

One of the most important decisions you'll have to make is how you'll receive payments from customers. But, before you do that, you must ensure that your customers can pay for the products they purchase from you in an easy and secure manner.

We at PayCly provide the Online Payment Platform Philippines to support merchants with efficient payment transactions for their business. Your customers can pay using their preferred payment method in their local currency. Our partnership with leading international payment providers can support you throughout your sales endeavors.

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