BillEase and Razer Merchant Services to Boost BNPL Services in the Philippines
by Fintech News Philippines January 22, 2024BillEase, a Philippine consumer finance app, has partnered with Razer Merchant Services (RMS) to integrate its payment solutions into RMS’s merchant network, aiming to expand the Buy Now, Pay Later (BNPL) services in the region.
This collaboration comes as the Philippine e-commerce sector is expected to see a significant rise in BNPL spending, from US$100 million (₱5.62 billion) in 2021 to US$900 million (₱ 50.55 billion) by 2026.
Through this partnership, Razer Merchant Services merchants will offer diverse instalment options of BillEase, including ‘Pay Later’ and ‘Pay Monthly’ plans with competitive interest rates.
Lee Li Meng
Lee Li Meng, CEO of Razer Fintech said,
“Joining forces with BillEase is a strategic move in line with our mission to deliver advanced payment solutions throughout the region. This partnership is a key step towards catering to the evolving needs of Filipino consumers”.
Kurt Molina
“Our partnership with Razer Merchant Services goes beyond business. It’s about empowering consumers and helping merchants adapt to the digital economy. We are eager to see how our flexible payment solutions can foster growth and inclusivity in the e-commerce landscape,”
said Kurt Molina, Head of Merchant Products at BillEase.
Open Fabric, a Singapore-based fintech company, facilitates the integration, enabling rapid deployment of BNPL solutions and reducing the integration time significantly.
The partnership is anticipated to address the evolving payment needs of Filipino consumers and assist merchants in transitioning to digital commerce while also aiming to close the financial inclusion gap in the region.
