The Philippines is one of Southeast Asia’s fastest growing digital economies. It is driven by thriving e-commerce, evolving remittance market and a highly tech savvy bunch of population. As local businesses expand globally and freelancers get into contracts with international clientele, the need for a secure and flexible payment system becomes the firsthand requirement of the economy. To get on the same page with the need, TransFi brings forth a seamless and unified payment gateway for crypto and fiat payments in the Philippines. It smoothly accommodates both the Philippines Peso (PHP) and digital currencies like USDT and USDC and provides a curated experience to the users. More about it further in the article, let’s first look at the payment systems in the country and how they function!

The evolution of payments in the Philippines 

The country has always had a step forward in embracing innovation in financial technology - from GCash and Maya to adoption of digital banking and blockchain technology, Philippines has explored the financial make up along all innovative lines. Yet, when it comes to digital currencies and crypto, one challenge persists - the efficient collaboration of local fiat and global crypto transactions. 

Traditional payment systems often focus only on PHP transactions and while crypto platforms lack fiat integration for deployment and practical usage highlighting a huge gap in the implementation of digital currencies for local use. Businesses need a hybrid payment infrastructure where they can combat the same by connecting pesos, stablecoins and digital payments in a secure and compliant manner. Let’s understand how TransFi helps to achieve that. 

Simplifying the hybrid payment model with TransFi

TransFi checkouts is the next generation crypto and fiat payment gateway designed for modern day businesses with modern financing needs- it enables users spanning from merchants to freelancers to accept PHP and digital currency payments in a single, frictionless checkout. 

With TransFi, one can;

1. Accept PHP via bank rails or local payment channels.

2. Accept crypto and stablecoin payments on chain (eg USDT, USDC, BTC, ETH and more)

3. Convert between fiat and crypto instantly. 

4. Withdraw PHP to local banks or hold balances in stablecoins. 

Whether it’s an ecommerce store or a SaaS platform you’re running - TransFi as a payment partner, makes your operations simpler by unifying fiat and digital asset payments. 

Accepting Crypto and Pesos seamlessly  

Accepting both PHP and digital currencies traditionally would require one to juggle multiple accounts, wallets and manual conversions. TransFi changes that setup in a streamlined manner;

1. Create and verify your TransFi account

Start by signing up at TransFi.com. Complete your KYC verification which just takes a few minutes.

2. Integrate TransFi checkouts 

TransFi offers simple API integration or ready to use checkout plugins for deployment on online platforms. Within minutes, you’re ready to start accepting crypto and fiat payments side by side. 

3. Accept payments in PHP or Crypto

Customers can choose how they want to pay and you can be flexible with the acceptance using TransFi. 

• Local users can pay in PHP through bank transfers, GCash or credit cards.
• Global clients can send USDT, BTC or ETH via supported blockchain networks. 

Both kinds of payments appear instantly in your TransFi merchant dashboard. 

4. Convert or withdraw funds

Easily convert crypto to PHP within the dashboard. Once done you can;

• Withdraw directly to your Philippine bank account. 
• Retain crypto in TransFi wallet and use it for further transactions. 
• Automate conversions with multi currency settlement preferences as per convenience. 

What does this mean for your business? 

No more hopping from one platform to another, TransFi automates everything. 

Why is TransFi the best choice for a payment gateway in the Philippines

TransFi is more than a payment processor - it makes an end to end payment infrastructure which is all you need as a business navigating between traditional finance and Web3 applications. Here’s why you can trust the platform;

1. The All in one Solution

It helps accept PHP and digital currency on one platform entirely eliminating the need for multiple providers and the associated services. 

2. Regulated and compliant 

TransFi operates with licensed partners ensuring full AML/KYC compliance and transaction monitoring across crypto and fiat rails.  

3. Low fees and fast settlements 

Enjoy lower transaction fees than traditional payments and the benefit of near instant transfers for any category of transactions. 

4. Realtime conversions

Convert PHP to crypto or crypto to PHP instantly with transparent exchange rates which makes it ideal for businesses managing cross border flows.  

5. Easy integration

TransFi’s API and plugins are designed to be developer first, making it simple to integrate checkout options on websites, appsand online platforms. 

6. Analytics and reporting

Get detailed transaction reports, currency breakdowns and settlement insights, all accessible from the connected merchant dashboard. 

As digital currency adoption accelerates in the Philippines, TransFi prepares your business for Web3 and blockchain based commerce which is the upcoming norm in the global financial evolution. 

What’s next? 

In the fast changing world of digital finance, TransFi offers the ultimate solution your business needs in the Philippines. For businesses looking to accept both pesos and crypto with ease in a regulated and seamless manner, a hybrid model for crypto payments and local settlement is the right fit. 

Sign-up with TransFi today and simplify your PHP and digital currency payments all in one place. While our customer support is there at each step, the procedure is highly simplified and accessible! 

To know more, also read: How Businesses Reduce Payment Friction Across Sectors Using TransFi Checkout

Frequently asked questions (FAQs)

1. Can one accept both crypto and PHP using TransFi?

Yes. With TransFi one can accept the Philippine Peso (PHP) as well as crypto currencies like USDT, BTC and ETH. 

2. Can TransFi convert crypto to pesos?

One can convert PHP to crypto or crypto to PHP instantly on the platform with transparent exchange rates which makes TransFi ideal for businesses managing cross border flows. 

3. How can I integrate TransFi in my app or website?

TransFi offers simple API integration or ready to use checkout plugins for deployment on online platforms. Within minutes, you’d be ready to start accepting crypto and fiat payments side by side on your website or online platform. 

4. What are the benefits of accepting crypto payments in the Philippines?

Crypto payments are faster, cheaper and borderless. They are driving global economies and connecting businesses across the world. 

5. Do I need to worry about compliance and regulatory risk while using TransFi?

TransFi operates with licensed partners ensuring full AML/KYC compliance and transaction monitoring across crypto and fiat rails. This means that the process is regulated end to end, but at the same time awareness and assurance of financial decisions is recommended.