Pouch.ph, a payment fintech platform, is now enabling more than 400 small businesses to accept and process Bitcoin payments. 

Pouch.ph utilizes Lightning Network built atop Bitcoin. This payment option allows customers to pay by scanning a merchant’s QR code with any Bitcoin wallet. Pouch.ph then converts that Bitcoin to Philippine Pesos currency and sends the money directly to the merchant’s bank or mobile money account, making the process easy and efficient for both parties.

“With the growing number of internet and smartphone users in the Philippines, Bitcoin as a payment method will allow those who do not have credit cards or even local fiat currency to make online or in-store purchases,” said Ethan Rose, CEO, Pouch.ph.

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More than 250 local businesses in the popular tourist destination of Boracay, including convenience stores, cafes, hotels, and restaurants, have already enrolled with Pouch.ph and have been integrating Bitcoin payments into their daily operations.

For Erielyn Gaston, owner of Kasbar restaurant, accepting Bitcoin as payment allowed her to attract a wider customer base and increase sales.

Boracay Bitcoin Island

“It’s very convenient to have a payment service that’s fast and easily available so that for us, in regards to increasing the revenue, it allows people to stay longer because the other alternative that is there is one of these ATMs that are not from the banks the tourists use,” said Marcel Selfer, manager of TIB Market.

Building on these developments, the fintech firm is actively expanding its reach beyond “Boracay Bitcoin Island” and has onboarded merchants in Cebu City, Dumaguete, Iloilo, and Bacolod City.

In Metro Manila, some establishments have also started accepting Bitcoin as a valid form of payment through Pouch.ph such as the night bar URBN QC in Quezon City, Draper Startup House in Makati City, and niche retailer KosneyLand located inside a mall in Mandaluyong City.

Aside from receiving payments, some partner merchants use Pouch.ph for payroll. With Batch Pay feature, business owners can instantly send money in batches to employees, suppliers, and other recipients, including transfers to all major banks and e-wallets. They can transfer payroll directly to a Pouch Netbank Account with no fees, or to a nominated bank account for a minimal fee. This innovative solution aims to simplify and streamline payment processes for businesses across the country.

Pouch.ph is also preparing to extend its Batch Pay services for over-the-counter remittances through LBC, M Lhuillier, and Palawan Pawnshop.