Skip to main content

Philippines Super Payment Apps

Photo by Rami Al-zayat on Unsplash
This year is a great year for the Philippines in terms of development in available payment apps. BSP pushing more use of electronic retail payments by 2020 is a boon for these payment apps. There are also mergers and acquisitions that made those resources behind the apps bigger and better. What are the advantages of one from another and who are the leads and runner ups so far? Below are few of the unique features 
GCash

  • GCash Forest
    • You can help plant in Ipo watershed thru earning green energy. Green energy can be collected thru walking and using the functionalities of the app.
  • Instapay Transfer
    • Free transfers instantly to any local bank account. 100K monthly limit
  • Invest Money
    • Investment fund which offers the lowest initial and top up with just 50 pesos
  • GSave
    • Save money as high as 3% per annum in partnership with CIMB Philippines
Paymaya
  • Virtual Card
    • This is like a debit card which can be used for online purchases
  • Instapay Transfer
    • A new functionality similar to GCash wherein you can transfer to any local bank for free
Coins.ph
  • Cryptocurrency
    • Those into high risk appetite. Available cryptocurrency wallet and exchange which support Bitcoin, Ethereum, XRP, and Bitcoin Cash. 
  • Pesonet free transfer
    • Transfer to any local bank same day with cutoff using Pesonet 
Grabpay
  • Ideal for those grab car, grab food, and grab delivery users.
GCash is leading with 20M+ users and around 63000 partners. The Ayala Group led Globe really took care on its rise to the top. 

Paymaya on the other hand is claiming to be the first. It is connected to Smart Communications and PLDT's Voyager Innovations. Although GCash also have their debit card, Paymaya have this unique virtual debit card feature that can be used like a credit/debit card online. 


Coin.ph, a startup by Silican Valley entrepreneurs which is recently acquired by Go Jek is catching up with the the two but it is unique since it started as a cryptocurrency platform/app.



Who will win the competition in the years to come?
Labels:

Comments

Post a Comment

Popular posts from this blog

Who Introduced Stock Market Investing to Most Filipinos?

I posted a survey question 4 years ago about influencers of people to invest in the stock market and these are the results based on the responses. Bro. Bo Sanchez Out of the respondents, 20% answered famous personalities like Bro Bo Sanchez. Bro Bo, with his book “My Maid Invests in the Stock Market” and his group Truly Rich Club apparently influenced a lot of people in this previously perceived rich man’s endeavour. The idea of linking religion with the heavenly side of money and investment seems to be a good formula. Another name of financial guru came out with Bro Bo and this is Mr. Francisco Colayco who advocates financial literacy thru Colayco Foundation. Warren Buffett also is in the list of personalities mentioned since he became rich thru stock market investments. ANC On the Money Runners up on the list are influencers within the workplace and colleagues, 11% of respondents were led by their friends in the office who are already earning in th...
Post a Comment
Read more

Business Adventures by John Brooks (Book Recommendation)

"Business Adventures" by John Brooks is like a fiction touch in a non fiction book. It is jam packed with facts and lessons from great stories that probably shaped business histories. From history of stock market fluctuation, a case of insider trading, the mistakes of a big corporation like Ford in its Edsel model, the challenges and rise of Xerox, history of income taxation, employment issues with regards to intellectual property, to British pound historical devaluation and rescue. Each story presented in such a way that can put you at the edge of your seat.
Post a Comment
Read more

HMO, Health Insurance, and Hybrid Medical Plan

The COVID-19 pandemic crisis may have few positive impact in our lives and one of those is awareness to health. Health is wealth as sickness can drain wealth or worst lead to untimely demise.Sickness can have a factor of protection and prevention which involves the topics of immunity, lifestyle, stress, environment, vitamins, diet, genes, and exercise. Due to vast origin and complex human nature we cannot escape facing illnesses at least few times in our lives.  When we got sick, we usually go through different stages. Diagnosis, wherein we go to a physician for checkup. In this stage there are also specialized equipment and tools necessary to determine the cause of our sickness. After proper diagnosis, the doctors would then recommend medicines or treatment procedures to cure our sickness until recovery. Each of the stages during diagnosis, treatment, and recovery requires substantial amount of money depending on the nature of illnesses. Oftentimes, it is difficult to face illness...
Post a Comment
Read more