What are the Best Payment Options for Shopify in the Philippines?

We all want to earn money in the most efficient or fastest way possible. Starting a business has it's few early stages of hardships and the risk of facing hardships will never fade away. If you're planning or already have started a physical business, times nowadays might be harder for you since we are forced to stay at home. It will be hard to even open up business given the risk of contracting the virus and how we can infect others.

The best way to keep your business alive is to rely on the online market. The safest way to still run a business is to have your products put online and sell it to customers without having physical contact.

You might have already created your Shopify store. Your store will then rely on courier companies to deliver your products. For that, you will need to have secure and safe payment gateway options for your customer so they will have more ways to choose from in paying for the product they bought from you.

What is a payment gateway?

A payment gateway is where a payment transaction occurs in an e-commerce service or online store. They handle the payment processes as well as the information needed to complete the purchase and delivery online. Their role is to ensure the authenticity and security of the transaction.

Here are some of the best payment gateway options for your Shopify store in the Philippines:

Paynamics

Paynamics accepts payments from anywhere. They have over 32,000 cash-in centers and they are connected to over 50+ local banks. They offer lowered transaction fees to other payment providers.

They have thousands of available payment channels including Visa, MasterCard, American Express, GCash, Coins.ph, BDO, BPI, PNB, and Paymaya. They are trusted by some big brands like Starbucks, SM, Lazada, and Air Asia.

Paynamics can be integrated through their API or available integrations for Shopify, Wordpress, and others.

PayMaya

With PayMaya, you can shop online, book flights, buy games, buy tickets, pay bills, and send remittances. You can get a secure Virtual Card for all your online buys just by downloading their app.

They offer payments through scanning QR codes, and you can also like a Physical Card to withdraw from or swipe at your favorite store. You can use the card anywhere as long as they accept credit or debit cards.

Businesses can accept any form of payment through equipping an integrated POS (Point of Sale), QR acceptance, or online checkout systems.

PayMaya is recognized globally and has been recognized as the World's Best Online Payments Solution at the 9th Emerging Payments Awards in London, United Kingdom in 2016.

PayMongo

PayMongo helps businesses get paid by customers anytime and anywhere. They support businesses of all sizes whether you have a startup business or a large corporation.

PayMongo only asks for payments for successful transactions. They don't ask from setup, one-time, or monthly fees.

Payo - COD

Payo offers and efficient business model that enables you to maximize the delivery and cash remittance options while cutting down the RTS percentages, by utilizing all delivery companies, and giving you access to sales across the country. Payo helps you track the order and delivery fees from the moment it leaves your warehouse until the cash is safely secure in your account. You will have access to a high-functionality CRM system that is connected to all couriers. This allows complete and transparent cash flow viewing, giving you insight into past and present transactions.

Payo is partnered with more than 10 couriers and automatically selects the courier with the highest success rate to make sure that the item will reach its destination. Payo will only ask for payments per successful delivery and you will be given access to an online dashboard with a shipment status tracker.

PayTabs

PayTabs is a simple payment gateway that can be integrated with merchant websites and it enables fast deposit of payments to the merchant account. They accept 168 currencies and offer a smart dashboard to help you manage your online business in one platform. PayTabs is equipped with PCI DDS certification and anti-fraud protection. They also offer round the clock customer support for your needs.

PayTabs accepts a variety of payment options such as American Express, MasterCard, Visa, mada, STC Pay, OmanNet, and more.

2checkout

2checkout is a platform built around growing your business. They offer a modular design that lets you adapt to opportunity. This said modular design has been created to hit global payments, digital commerce, subscription billing, global tax and financial services, risk management and compliance, and partner sales.

2checkout covers 200 countries and more than 45 payment methods in over 100 currencies. They also offer 24x7 shopper support.

Paypal

PayPal is accepted in over 10 million online stores across more than 200 markets. You can have the ability to buy quality goods from international stores right from your home. Your purchases are protected by their 24/7 transaction monitoring, anti-fraud technologies, and Buyer Protection so your customers can shop with peace of mind.

You can pay with your preferred card. PayPal works with major banks in the Philippines and overseas. When you change your mind on your purchases, PayPal also covers return shipping and the customers can get a refund of up to $20 on the return shipping cost.

The best payment option will vary on the customer’s preferences.

Each customer will always have their preferences in choosing a payment option. Their choices will vary depending on which payment they have tried before and which one they trust more. As a business, your job is to make sure that they have more options to choose from for payments, and that they will have an easy and secure payment transaction in your online store or business.