Online shopping is now undoubtedly a mainstream activity in the Philippines. According to data collected by Statista, the Philippine e-commerce market is now one of the fastest growing in the world, outpacing not just most of its regional neighbors but also most major markets as well. At this current rate of growth, the market’s value is expected to hit USD 26.42 billion by 2027.
Needless to say, Philippines-based small-and medium-sized enterprises (SMEs) that want to take advantage of this growth need to prioritize the right things. For one, they need a website or app that legitimizes their brand and frees them from the limitations found on third-party e-commerce sites. More importantly, these apps and websites also need to facilitate sales and conversions as efficiently as possible.
Fortunately for Filipino-owned startups, Maya has a stellar reputation for making the second part easy. Thanks to its years of experience in addressing local e-commerce challenges, Maya has emerged to develop the best payment gateway for small business operations in the Philippines. Here, we’ll look at the Maya payment gateway solutions that Filipino businesses have come to depend on.
How To Enjoy Maya’s Online Payment Solutions
Integrating the best payment gateway Philippines has to offer into your website is easy. To get started, all you need is a Maya Business account. If you don’t have a Maya Business account yet, please do the following:
Creating a Maya Business account does more than give you access to payment solutions. It also gives you access to a high-performing Business Deposit account and lets you tap into a fresh source of capital through Maya Flexi Loans. Creating an account also entitles you to exclusive promos like Maya 1-2-3 Grow that you can use to further expand your business. This specially curated package is designed to take your business to new heights. By enrolling in this offer, your business can enjoy a fantastic 1% merchant discount rate (MDR) on all QR Ph sales, valid for 3 months from the moment you sign up. Not only that, but you'll also benefit from an attractive 2.5% p.a. interest on your Maya Business Deposit account. Finally, this bundle also unlocks the opportunity to access a Maya Flexi Loan offer within just 3 months of signing up.
What Online Payment Products Does Maya Offer?
Maya offers a selection of products that you can use to facilitate payments on your app or website. Keep reading to learn which ones are a good match for your online business:
Maya Checkout
Let your customers pay however they want with Maya Checkout. It is a simple payment gateway that gives SMEs an easy way to deliver a seamless yet secure digital payment experience on their app or website. Once Maya Checkout is integrated, customers can begin paying with their preferred cashless methods, including but not limited to credit cards, debit cards, QR Ph, as well as a wide selection of e-wallets like GCash and Maya.
Far from simply facilitating online payments, Maya Checkout also comes with several features that help you manage and grow your business. Features like real-time authorization, support for T+1 settlement, billing facilitation, and automated reporting make Maya Checkout a powerful tool for keeping on top of your cash flow.
Maya E-commerce Plugins
If your e-commerce site is built on popular e-commerce platforms, Maya has something special for you. Our WooCommerce and Shopify plugins let website owners of all skill levels effortlessly reconfigure their storefronts to offer a full range of online payment options.
These plugins are designed for users with limited technical skills, particularly small business owners who may not have a tech background or access to a full-time web development team. Once integrated into your storefront, Maya Plugins can be used to significantly improve the visitor experience, ultimately reducing cart abandonments and increasing conversions.
QR Ph
QR Ph is a major Bangko Sentral ng Pilipinas (BSP) project that aims to consolidate the QR codes offered by the country’s financial institutions. Under the QR Ph standard, merchants will only need a single QR code to accept cashless payments from e-wallets and mobile banking apps. With just one QR code to manage, businesses can reduce human errors, speed up payment processing, and dedicate more resources towards reaching their next stage of growth.
As with regular QR codes, QR Ph codes can be put up on websites and apps as a supplemental payment method to Maya Checkout or as part of a physical store’s POS system. Additionally, QR Ph codes can also be sent through messaging apps and email for online customers that prefer those channels. With QR code adoption seen to increase over the coming years, QR Ph may eventually become a linchpin in the typical Philippine e-commerce experience.
Maya Offers Your Customers Better Ways to Pay
While cash remains important in the Philippines’ commercial landscape, more and more Filipinos are switching to convenient cashless alternatives for facilitating online purchases. With Maya Business’s local online payment solutions, your business will be better positioned to tap into the fast-growing Philippine e-commerce market. Create your Maya Business account today to access online payment solutions that suit your app or website’s needs.
