Swiftpay merchants can now offer BillEase installment plans without building a separate payment system, giving online retailers another way to reduce abandoned carts and sell higher-priced products.
BillEase is available as a buy now, pay later (BNPL) option within Swiftpay’s online checkout. Existing merchants can enable the service through their current setup without submitting another merchant application or managing separate settlement and reporting processes.
The partnership also allows more than 10 million BillEase users to use their existing accounts at online stores within the Swiftpay network.
The companies are banking on demand from Filipino shoppers who want to spread the cost of electronics, appliances, and other expensive purchases over several months. Because many consumers do not own credit cards, installment options could help merchants reach buyers who might otherwise leave items in their carts.
“Merchants lose the sale when a customer wants the product but not the full price today. Enabling BillEase through Swiftpay takes days rather than a planning cycle, and once it is on, every shopper on the site sees the option,” said Kurt Molina, head of POS Product at BillEase. “In categories like electronics and appliances, that shows up quickly in average order value. We charge interest on the declining balance, so a customer who pays early pays less. Terms run six to 24 months, and the peso cost is on screen before they commit.”
Customers can select payment periods of six, nine, 12, 18, or 24 months. Interest is based on the remaining unpaid balance instead of the original purchase amount throughout the entire term. This means customers who pay ahead of schedule can reduce their interest costs.
Swiftpay said credit decisions are made during checkout, allowing approved customers to complete their purchases without leaving the merchant’s website. The merchant receives payment upfront, while BillEase handles credit checks, collections, and the risk of customers failing to pay.
“Installments have been one of the most requested payment methods from our merchants, and the ones who looked at building it themselves found out quickly that it means running a credit business,” said Damian Gil, chief revenue officer at Swiftpay. “This removes that. A merchant on Swiftpay can offer BillEase without underwriting anything, carrying any risk, or waiting on a development queue.”
Gill noted that BillEase gives customers tenors up to 24 months and pricing they can actually read, and it gives merchants a larger addressable market without a change to how they operate.
For merchants, BillEase transactions will appear alongside their existing Swiftpay payment methods. Settlement and transaction reports will also remain within Swiftpay’s current system, reducing the technical and administrative work normally required when adding a BNPL provider.