The best payment solutions for SMBs in the Philippines
As global demand for Filipino talent, goods, and services
continues to rise, the country’s growing community of SMBs need to be able to
send and receive money securely and efficiently. But managing international
payments can often be confusing and costly without the right tools in place.
These small businesses are eagerly expanding into
global markets. According to Payoneer’s second annual SMB Ambitions Barometer,
half of Filipino SMBs say that reaching new customers is the biggest benefit of
going global. They also highlight improved innovation (62%), access to higher
quality supply chains (57%), and better financial performance (54%).
When looking for the best payment solutions for SMBs in the
Philippines, SMBs want a platform that supports the growth of their
business and keeps finances on track in a simple, uncomplicated way.
The opportunity and challenges of going global
When it comes to international
payment processing for Filipino businesses, making things more transparent,
flexible, and straightforward will have a positive impact on these small
businesses that are so critical to supporting the Philippines’ global growth.
What makes a good global payment platform?
Listening to what small businesses are saying, it’s clear
that they have a good idea of what they want from a global payment solution:
- Transparent
fees with no hidden costs - Receiving
accounts in multiple currencies - Simple
setup and user-friendly tools - Features
that make compliance easier - Support
for multiple clients, platforms, and regions
Cross-border
payments for e-commerce and services need to feel as frictionless as
local ones. That’s where Payoneer’s
e-commerce solutions come into play.
Why Filipino SMBs use Payoneer
Payoneer’s tools are designed for global business. Its
platform makes it easier to manage digital payments and have clear visibility
of their financial activity.
Currency receiving accounts
Payoneer users can receive funds in major currencies like
USD, EUR, and GBP when receiving payments, allowing them to be paid by overseas
clients more easily, without having to open and maintain multiple financial
accounts abroad.
A guide to global e-commerce payments
Being able to handle payments smoothly is vital for Filipino
businesses selling online. Payoneer supports cross-border
payments for e-commerce with features such as:
- Receiving
accounts for marketplace payouts - Options
to manage multiple currencies in one dashboard - Support
for paying international vendors or contractors - Easier
reconciliation of overseas transactions
Getting started with Payoneer
Setting up with Payoneer is simple and can be done online:
- Sign
Up: Visit the Payoneer
website and click on the ‘Open your account’ or ‘Register’
button. - Provide
personal and business information - Verification:
Submit necessary identification documents and any required business
documentation for verification purposes. - Link
bank account: Once verified, you can link your Philippine bank account
to your Payoneer account to facilitate withdrawals in PHP. - Receive
payments: After setup, you can start receiving international payments
through your Payoneer account.
The small
business economy in the Philippines is expanding fast. As
international transactions become the norm, so does the need for infrastructure
that supports them.
Payoneer meets that demand in a way that traditional
financial systems can’t, offering a flexible and cost-conscious solution
for international
payment processing for Filipino businesses. When looking for the best
payment solutions for SMBs in the Philippines, Payoneer promises a powerful
solution.
Explore what Payoneer can do for your business. Sign
up today and see how easy global payments can be.
Sign up for a Payoneer
account today.
