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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?
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