Philippine-based consumer finance app BillEase has announced its collaboration with Razer Merchant Services (RMS), a division of Razer Fintech.

The duo said in a statement on Monday that this strategic alliance aims to revolutionize the Buy Now, Pay Later (BNPL) landscape by integrating BillEase’s flexible payment solutions into RMS’s extensive merchant network.

The collaboration arrives at a pivotal moment for the Philippine e-commerce sector as BNPL spending in the country is projected to soar to $0.9 billion by 2026 from $0.1 billion in 2021, highlighting the increasing demand for flexible payment methods among Filipino consumers.

Under this partnership, RMS merchants will now be able to offer BillEase’s diverse card-free installment options, including “Pay Later” in 10 or 20 days and “Pay Monthly” over three to twelve months for larger purchases with competitive interest rates, ranging from 0 percent to 3.49 percent.

According to the statement, the integration is powered by Open Fabric, a Singapore based fintech which specializes in seamless integrations for lenders, wallets and loyalty programs when they connect with merchants, PGs and acquirers (online and offline).

While the usual integration takes months to complete, the Open Fabric integration allows merchant technical teams to deploy a BNPL solution in just 1 to 3 days, hence saving about 95 percent of developer time.

According to the statement, BillEase’s deferred payment model, which allows consumers to make purchases more conveniently, aligns perfectly with RMS’s goal of offering inclusive payment solutions.

“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,” said Lee Li Meng, Chief Executive Officer of Razer Fintech.

Kurt Molina, Head of Merchant Products at BillEase, also expressed his optimism about the collaboration.

“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,” he added.

With 34.3 million Filipinos currently unbanked, the duo said the partnership also aims to extend micro-financial services and minimize the financial inclusion gap in the region.

BillEase is a versatile finance app in the Philippines focusing on expanding access for mass and emerging middle-income consumers.

It is a product-focused fintech company leveraging machine learning technology in building financial products and global best practices in credit underwriting to meet the needs of unbanked customers in Southeast Asia (SEA).

BillEase offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bills payment, and a unique BNPL that offers competitive interest rates and deals from over 10,000 merchants.

Razer Fintech is the financial technology arm of Razer Inc.

Established in April 2018, Razer Fintech has grown to become one of the largest offline to online (O2O) digital payment networks in emerging markets and has processed over billions of dollars in total payment value.

Razer Fintech recorded a total payment volume (TPV) of over $6 billion for FY 2022.

RMS is a business to business (B2B) solution encompasses RMS Online and RMS Offline.

RMS Offline is a payment processing gateway supporting global scheme cards and over 110 payment methods, powering online payments for global and regional blue-chip merchants in SEA. 

RMS Offline is SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. It extends point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.

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