Recommended e-commerce payment platforms: Top 5 tools to support payments in the Philippines

Here are 5 recommended e-commerce payment collection tools that support Philippine payments for cross-border e-commerce or local merchants of different sizes:

1. PayMaya(now renamed Maya)

• specificities: Mainstream local payment platform in the Philippines, supporting e-wallets, bank cards and offline top-ups.
• Applicable Scenarios: Commonly used by local consumers, suitable for small and medium-sized businesses; supports PHP checkout.
• cutting edge::
  • Low handling fee (~1.5%-3%).
  • Works seamlessly with e-commerce platforms such as Shopee and Lazada.
• take note of: Required to register a Philippine entity or business qualification.

2. GCash

• specificities: Largest mobile wallet in the Philippines in terms of users (owned by Globe Telecom).
• Applicable Scenarios: Social e-commerce, small and high-frequency transactions.
• cutting edge::
  • No need for a bank card, you can pay with your mobile phone number.
  • API access is easy and supports QR code collection.
• cost: Transfers are free of charge and withdrawal fees are around 1%.

3. Dragonpay

4. PayPal

• specificities: Global, support Philippine Peso (PHP) collection, suitable for international e-commerce.
• Applicable Scenarios: cross-border e-commerce, Freelancer services, B2C/B2B transactions.
• cutting edge::
  • Highly recognised internationally and trusted by buyers.
  • Credit/debit card payments are supported (even without a PayPal account).
• point of attention::
  • Higher handling fees (approx. 3.5% - 4.5% + fixed fees).
  • PHP withdrawals to Philippine banks are subject to an additional 1%-2% currency conversion fee.

5. Stripe (business qualifications only)

• specificities: Internationalised payment gateway with PHP and multi-currency billing support.
• Applicable Scenarios: High-unit-price e-commerce, SaaS subscription-based business.
• cutting edge:
  • API friendly and well automated payment processes (e.g. regular debit).
  • Full coverage of local methods such as Visa/Mastercard/GCash.
• constraint:
  Registration of a Philippine company or use of a compliant agent (e.g. Stripe Atlas) is required.

🚀 [Added] Lazada/Shopee Seller Centre Collections

If it is sold on the Southeast Asian platform, it can be used directly with its built-in programme:
|Platforms|Collection Methods|Receipt Period
|—|—|—|
|Lazada|Bind Local Bank/Payoneer|7-14 days|
|Shopee|via Airwallex or local bank |3-7 days|

📌Selection Suggestion:

1️⃣ [Local users predominate] → GCash + Maya (covers 90% Fi consumers)
2️⃣ [Cross-border stand-alone site] → PayPal + Dragonpay (balancing cost and coverage)
3️⃣ [Large/subscription-based] → Stripe (mature technology but high threshold)

Need specific access help can leave a message to explain the business model!

Below are more in-depth additions and optimisation suggestions to help you choose the most suitable Philippine payment solution for your business needs:

6. Direct bank connection programme (suitable for large/compliant businesses)

UnionBank / BDO Online Payments

• specificities: Gateway interface provided by mainstream banks in the Philippines to support real-time PHP settlement.
• Applicable Scenarios: Local B2B transactions, high net worth customers (e.g. real estate, education).
• cutting edge::
  • Funds are credited directly to the corporate account with no third party risk.
  • Large transaction fees as low as 0.5%-1%.
• challenge::
  • A Philippine Public Account is required, with strict vetting (ACR licence required).

7. Crypto payments (emerging markets)

Binance Pay / Coins.ph

• specificities: Receive payment via cryptocurrency or stablecoin (USDT) for instant conversion to PHP.
• Applicable Scenarios::
  • Web3 related products, cross-border freelance payments.
  • Circumvention of foreign exchange controls (for non-Filipino merchants).
• Risk Warning: Exchange rate fluctuations require hedging strategies.

🌟 [Ultimate Combo] - Recommendations by Business Stage

⚠️ key notes

1. Licence issues

   • GCash/Maya access is limited to Filipino registered businesses.
   • Stripe/PayPal allows foreign companies to receive money but withdrawals require a local agent.

2. Hidden costs

   # PayPal Example: How much did the $100 order end up being?
   
   Total deduction = (100 *4.4%) +0.30 ≈ $4.7 → $95.3
   
   If redeeming PHP deduct another 1% → ₱5,300*(99%) = ₱5,247
   
   

3.Need for alternate routes:
It is recommended to access at least 1 offline payment (e.g. Dragonpay's OTC cash payment) to cover unbanked users.

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