Payments acceptance solutions provider Ingenico has forged an alliance with payment-driven embedded banking platform Premise to offer digital payment tools and financial services to micro merchants in the Philippines.
As part of the partnership, Ingenico is serving as Premise’s preferred certified payment terminal provider and has implemented the AXIUM DX8000.
The Ingenico terminal, which runs on Android platform, is designed to facilitate third-party software integration that helps micro businesses with digital payments.
Premise has also linked its operations with Ingenico’s Payment Platform as a Service (PPaaS), which is a cloud-powered platform to manage and provide improved payment and commerce services effectively to terminals.
Through the latest tie-up, both the companies expect to pave way for an omnichannel payments acceptance platform that combines alternative and cashless payment modes to directly benefit the merchants.
In the Philippines, 65% of the population do not have a bank account, which is one of the highest in the Asia-Pacific (APAC), noted Ingenico.
According to a recent research, nearly 25 million Filipinos used mobile wallets for online transaction in 2020. The figure indicates a huge exposure for stakeholders to tap this behaviour offline.
Ingenico senior VP for Asia Pacific Nigel Lee said: “We are proud to partner with Premise and empower the micro-entrepreneurs by equipping them with digital and alternative payment solutions in their businesses.
“It allows them to facilitate their customers’ transition from online payment methods to in-store and become the driving force for cashless inclusion in their community.
“This aligns with Ingenico’s mission to help shape the evolution of commerce worldwide.”
Last week, Ingenico reached a partnership with Live Payments to provide better payment and commerce tools to taxi and retailers in Australia.