PARIS, SINGAPORE, MANILA, October 31, 2022: Ingenico, a global leader in payments acceptance solutions, announces a partnership with Premise, a payment-led embedded banking platform to provide integrated digital payment solutions and financial services to cash-driven micro merchants across the Philippines.
Ingenico is Premise's preferred certified payment terminal provider, deploying the AXIUM DX8000. Running on Android, the terminal allows third-party software integration to enable digital payments for these micro-businesses. Premise will also scale its service offerings by linking to Ingenico's Payment Platform as a Service (PPaaS), a cloud-based platform to manage and deliver advanced payment and commerce services quickly and efficiently to terminals.
In the Philippines, cash remains king as 65% of its population is still unbanked, amongst the highest in the APAC region. And a viable option for accessing the financial infrastructures is digital payments like mobile or digital wallets, requiring only a phone number and valid ID. In 2020, almost 25 million* Filipinos used mobile wallets to make or accept online payments, presenting a vast opportunity to tap into their existing behaviour offline.
Premise's turnkey universal payment acceptance platform, which includes payment terminals, financial services capabilities, and regulatory licenses, removes businesses' reliance on banks for payments. The partnership between Premise and Ingenico opens an omnichannel payments acceptance platform by bringing alternative and cashless payment methods directly to the merchant's point of sale, emulating the online customer experience.
