BiPay leads the third-party payment innovation in the Philippines: GCash free transactions help smal

In the vibrant digital financial hotspot of the Philippines, BifuPay and GCash are reshaping the business landscape of small and micro merchants with innovative payment solutions. As a leader in the industry, BifuPay not only focuses on providing safe and efficient cross-border payment services, but also cultivates the local market. Through cooperation platforms such as GCash, it has opened a door to the digital economy for small and micro merchants in the Philippines.

GCash waives transaction fees, spring for small and micro merchants

Recently, GCash announced a major good news: from now until the end of 2023, QRPH transaction fees and merchant discount rates (MDRs) will be fully waived for small and micro merchants using its scan payment service. This move will undoubtedly inject strong momentum into many small and micro merchants, including grocery store owners, market stall owners and online sellers on the streets, and a large number of people will enjoy the convenience of burden-free digital payments.

Not only that, GCash has also increased the wallet limit of small and micro merchants to P500,000 per month, and waived the 1.5% transaction fee if the cumulative sales do not exceed P100,000. Compared with the 2% fee of other e-wallets and payment platforms on the market, GCash's policy undoubtedly saves a lot of costs for small and micro merchants, making every transaction more cost-effective.

Bifu Pay: Building a seamless payment ecosystem

As an important partner of GCash, Bifu Pay plays an indispensable role in promoting the development of the third-party payment market in the Philippines. We are well aware that for small and micro merchants, the smooth flow of funds is directly related to their survival and development. Therefore, Bifu Pay joins hands with GCash to create a seamless payment ecosystem, allowing merchants to easily realize the rapid payment and collection of funds while enjoying low-cost transaction services.

Through the Bifu Pay platform, merchants can not only easily access local mainstream payment channels such as GCash, but also enjoy the convenience and efficiency of cross-border payments. Whether it is the in-depth cultivation of the domestic market or the expansion layout of the international market, Bifu Pay can provide merchants with a full range of one-stop payment solutions.

Empowering small and micro businesses and jointly drawing a blueprint for the digital economy

GCash's series of preferential policies are a strong response to the Bangko Sentral ng Pilipinas' goal of promoting small and micro businesses to integrate into the digital economy. Bifu Pay works closely with GCash to tailor a set of growth plans for small and micro businesses by providing free payment services, increasing wallet limits, and exempting transaction fees, helping them to ride the waves and thrive in the wave of the digital economy.

So far, GCash has empowered more than 845,000 small and micro businesses in the community, helping them to achieve digital transformation and upgrading of their businesses by providing diversified digital financial solutions. As an important promoter in this process, Bifu Pay will continue to work hand in hand with GCash to bring tangible benefits and welfare to more small and micro businesses in the Philippines.

Conclusion

In the blue ocean of the third-party payment market in the Philippines, Bifu Pay and GCash are working together to draw a magnificent picture of the growth of small and micro businesses. We believe that through continuous technological innovation and service optimization, we will be able to lead more small and micro businesses to success and jointly write a glorious chapter in the digital economy of the Philippines.