Xendit Partners BillEase to Offer BNPL for Filipino Merchantsby Fintech News Philippines February 25, 2021
Indonesian payment gateway Xendit and FDFC, the fintech company behind the Buy Now, Pay Later (BNPL) app BillEase, announced the launch of their joint PayLater solution to help merchants offer cardless payment installments in the Philippines.
The partnership with BillEase allows merchants to connect to Xendit’s API and enable BillEase’s payment products.
By offering BillEase at checkout, merchants can give their customers the option to split the cost of their purchases into installments either monthly or bi-weekly with no hidden fees.
Xendit merchants that offer BillEase can allow customers to pay for their purchases online on monthly installments and pay the app over a period of three, six, nine, or 12 months with monthly interest rates between 0 to 3.49 percent. Merchants can also choose to offer 0 percent annual percentage rate (APR).
Xendit is headquartered in Indonesia and recently expanded in the Philippines to offer this payment solution via API, hosted checkout or third-party plug-ins via Shopify, Woocommerce, WIX and more.
“Shoppers are increasingly looking for alternative ways to pay, and merchants who offer flexible payment options can rapidly improve their conversion rates and increase average order value.
We’re excited to partner with Xendit to help Filipino merchants grow more by removing unnecessary challenges customers face at checkout, especially for those who are unable to use credit and debit cards.”
said Georg Steiger, Co-founder and CEO of FDFC.
“At Xendit, we aim to give our merchants the options needed to help their business grow by offering all types of payment methods. Partnering with BillEase is crucial as the demand for installment solutions has grown in recent years, partly fueled by the pandemic.
Additionally, merchants also see a huge demand from their consumers for this type of payment option. That’s why we’re excited to bring our PayLater solution to online retailers in the country.”
said Yang Yang Zhang, Managing Director of Xendit Philippines.