Enhancing Digital Payment Adoption for Filipino SMEs
Faster access to cash flow and simplified operations are now within reach for small and medium-sized enterprises (SMEs) in the Philippines, thanks to a recent partnership between HitPay and Ingenico.
The collaborative efforts of these two entities aim to equip Filipino SMEs with an all-encompassing payments system that accepts major payment types such as credit cards and popular electronic wallets. This integration streamlines merchant operations, making it easier for businesses to handle multiple payment options from a single platform.
Streamlining Business Operations
HitPay’s software platform is now embedded with Ingenico’s terminal, allowing merchants to accept diverse payment methods, including major credit and debit cards, QR-based payments like GCash and Maya, and cross-border transactions. This integration facilitates quicker access to cash and faster payment settlements, which are crucial for businesses navigating tight margins.
The smart terminal also offers a cost-effective solution for managing end-to-end operations through its ability to unify online and offline payment methods, issue invoices, automate recurring billings, and provide business insights that aid in informed decision-making. These features collectively enhance the operational efficiency of SMEs.
Target Sectors and Future Outlook
The initial deployment targets sectors such as retail, food and beverage (F&B), and travel, where the adoption of digital payments is on a significant upswing. The partnership aims to support over 10,000 SMEs in the Philippines within the next two years, leveraging Ingenico’s global network and HitPay’s regional partnerships.
HitPay operates as a BSP-regulated payment platform, ensuring compliance with local financial regulations. The company views its alliance with Ingenico not just as a means to terminal transactions but as an opportunity to democratize access to enterprise-grade tools, contributing to the country’s digital transformation.
Ingenico’s goal is to simplify payments for businesses of all sizes by providing secure and innovative payment solutions that empower companies to grow and stay competitive in today’s rapidly evolving market.
