How to choose the best Philippines payment gateway?
The Philippines’ economy is oriented towards domestic consumption. Until recently, merchants traded at physical points of sale, and cash was the main method of payment.
Everything changed with the onset of the COVID19 pandemic when many countries introduced strict quarantines and entrepreneurs had to look for new development methods.
For local businesses, switching to e-commerce has become an obvious survival strategy. However, a new question arose here: how to provide users with the most convenient payment method?
This is where payment providers came to the rescue, covering the entire region with a single payment ecosystem.
To choose which of the many companies provides the best conditions, we have prepared a small Philippines payment gateway comparison guide.
Top 5 payment gateways for the Philippines
Dragonpay
One of the most popular payment gateways in the Philippines. Dragonpay provides online processing services to companies and individuals across the country.
To pay for goods and services, Dragonpay provides the following payment methods:
- Checks;
- Cash payments through ATMs;
- Mobile wallets;
- Online debit accounts.
Thanks to its wide range of options, Dragonpay payment gateway provides a convenient payment method for every country resident.
Also, many online stores use Dragonpay as their preferred payment gateway for online shopping.
Other advantages of the system:
- Recurring payments. Subscription payments;
- Mass withdrawals of funds;
- SSL data encryption;
- Fixed transaction fees.
AsiaPay
AsiaPay payment platform is headquartered in Hong Kong and provides services around the world. The company works with banks, various organizations, charities, and merchants.
AsiaPay provides the following online payment options:
- Credit and debit cards;
- Bank payments / online banking;
- Deferred payments;
- Prepaid cards;
- Other alternative payment methods.
Advantages of AsiaPay payment gateway:
- Batch payments;
- Subscription payments;
- Payment by vouchers;
- Payments analytics;
- Card tokenization;
- Payment link integration.
AsiaPay is one of the best payment gateways for the Philippines and globally.
PayMongo
PayMongo is a Manila-based technology company providing some of the best payment gateways for accepting payments for businesses in Southeast Asia, including the Philippines.
Benefits of PayMongo payment gateway:
- Integration is free and without monthly fees;
- The company accepts payments by credit and debit cards, as well as alternative payment methods;
- Acceptance of payments for merchants without a website;
- Integration with popular e-commerce platforms.
2Checkout
2Checkout provides services for receiving, processing, and sending funds to more than 200 countries, including the Philippines, founded in 2000.
Benefits of 2Checkout:
- The ability to pay without registering an account;
- Accept credit and debit cards;
- Subscription payments;
- ACH processing;
- Invoicing;
- Mobile payments.
PayOp
A relatively young company, PayOp nevertheless offers one of the best payment gateways for merchants in the Philippines and worldwide. The company is one of the leaders in terms of the number of local payment methods (over 300). It allows merchants to improve conversions by providing a convenient payment method to their customers.
Benefits of PayOp payment gateway:
- Acceptance of payments without a merchant account;
- The ability to work with high-risk industries;
- Low commissions;
- Availability in 170 countries;
- Massive conclusions;
- Invoicing.
Wrapping up
Several factors drive the choice of the best Philippines payment gateway for payment processing. We have tried to provide information about both local payment systems available in any region of the country for any user and global, ideal for Philippine merchants who sell abroad.
