Manila, Philippines –BillEase, a consumer finance app based in the Philippines, has recently entered into a strategic collaboration with Razer Fintech, underscoring its commitment to fostering growth and inclusivity in the e-commerce sector while empowering merchants to embrace the digital economy.
This comes after the rising demand for ‘buy now, pay later’ spending in the country, with an anticipated growth of expenditures from $0.1 billion in 2021 to an estimated $0.9 billion by 2026. Said data implies a crucial moment in the e-commerce sector, reflecting the ongoing transition to digital finance.
Among the highlights of this initiative is the incorporation of BillEase’s flexible payment solutions into the merchant network of Razer Merchant Services (RMS).
Through this, RMS merchants can now provide BillEase’s various card-free installment choices, such as “Pay Later” in 10 or 20 days and “Pay Monthly” over three to twelve months, offering competitive interest rates ranging from 0% to 3.49% for significant purchases.
Additionally, the integration is also facilitated by Open Fabric, a fintech company based in Singapore, which assists merchant technical teams to implement a ‘buy now, pay later’ solution within 1 to 3 days, leading to substantial savings of around 95% in developer time.”
Commenting on the partnership, Lee Li Meng, chief executive officer at 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, head of merchant products at BillEase, also added, “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.”
With the partnership, the two are positioned to expand the provision of micro-financial services and reduce the financial inclusion gap in the region.
