Xendit and FDFC has announced the launch of their joint PayLater solution to help merchants offer convenient, cardfree installments in the Philippines, where majority of shoppers remain uncarded or unbanked.
Xendit, which allows merchants to accept payments online, can now make it easier for merchants to provide an affordable and transparent installment option at checkout through a single integration. This means Xendit’s merchants can now add BillEase as a payment option with a few clicks. By offering BillEase at checkout, merchants can give their customers the option to split the cost of their purchases into installments either monthly or bi-weekly with no hidden fees.
Xendit is a Y Combinator-backed financial technology company that enables businesses to accept and send payments across multiple channels. The company is focusing on API innovation that allows merchants to accept payment with ease on various channels, from debit and credit cards, online banking through Direct Debit, e-Wallets, to over-the-counter outlets, and online installments.
Georg Steiger, Co-founder and CEO of FDFC, commented:
“Shoppers are increasingly looking for alternative ways to pay, and merchants who offer flexible payment options can rapidly improve their conversion rates and increase average order value.We’re excited to partner with Xendit to help Filipino merchants grow more by removing unnecessary challenges customers face at checkout, especially for those who are unable to use credit and debit cards.”
Yang Yang Zhang, Managing Director of Xendit Philippines, commented:
“At Xendit, we aim to give our merchants the options needed to help their business grow by offering all types of payment methods. Partnering with BillEase is crucial as the demand for installment solutions has grown in recent years, partly fueled by the pandemic. Additionally, merchants also see a huge demand from their consumers for this type of payment option. That’s why we’re excited to bring our PayLater solution to online retailers in the country.”
