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How Online Businesses & Outsourcing Professionals in the Philippines Can Reduce Payment Fees

We received a great response from our readers on our white paper study done on Cross-Border B2B payments in India. Taking the analysis further, we did another study on the cost of B2B payments for a Southeast Asian country – the Philippines. The country provides enormous opportunities for B2B players, both domestic and foreign. Compared to other developed markets, the Philippines is largely under-penetrated with a huge potential for growth in the cross-border B2B transaction market. B2B payments, which make up the bulk of all payments, are still overwhelmingly in cash and checks. The total value of B2B payments in the Philippines was around USD 31.9 Bn. The owners of mostly formal small retail establishments identified as potential agents revealed that businesses made 66% of their payments to suppliers in cash.

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