Dragonpay, a fintech company and digital payment gateway, forges a partnership with Wix.com, a SaaS platform, to offer more payment options to businesses and customers.
Through this partnership, Wix merchants in the Philippines can connect to Dragonpay so they can accept credit card payments and other payment methods including cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
“The integration with Dragonpay gives our merchants in the Philippines more choice and flexibility in the payment methods they offer their customers, enabling them to remain competitive, increase conversions and ultimately grow their revenues,” according to Wix Payments.
With more payment options available, the chances of customers completing a purchase are higher reducing the number of abandoned carts and increasing the conversion rate.
“Dragonpay has been around for 13 years now, processing over 300 million transactions to date. We know that our job will never be done,” said Robertson Chiang, founder and CEO of Dragonpay. “We remain steadfast in our commitment to empowering every online Filipino business and consumer through secure, accessible and reliable payments.
The surge in online shopping and transitions during the pandemic is carried over to today. With the growth of the e-commerce market in Southeast Asia, including the Philippines, this shift aligns with the projected revenues forecasted to reach $18.16 billion by 2023 and balloon up to $29.54 billion by 2027, as reported by market and consumer data platform, Statista.
This growth presents a significant opportunity for micro, small and medium-sized businesses (MSMEs) in the Philippines to establish their online presence and tap into a wider customer base. To succeed in the online marketplace, these businesses must have access to reliable payment gateways that can accommodate various payment options.