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Card Acceptance Fees Philippines — How Philippine SMEs Can Pay Less
Author:
The HitPay Team
Last Updated:
Card acceptance fees in the Philippines can exceed 4% per transaction — but most Philippine consumers already use lower-cost alternatives. This post outlines practical steps Philippine SMEs can take to reduce their processing bill, including QR Ph, GCash, InstaPay, and PESONet, with settlement timing for each.
Quick Answer: Philippine SMEs can reduce card acceptance costs by shifting transaction volume to local payment rails with lower fee structures. QR Ph, GCash, InstaPay, and PESONet all carry lower per-transaction costs than cards and have strong consumer adoption across the Philippines. HitPay supports all of these methods alongside cards — with no monthly fees and next business day PHP payouts for domestic transactions — making it straightforward to offer lower-cost options at checkout without switching platforms.
Card payments are expensive to accept in the Philippines — and for most small businesses, the fee structure is opaque. A boutique in Bonifacio Global City (BGC) or a food stall in Cebu accepting Visa or Mastercard typically pays 2.5% to over 4% per transaction, depending on the gateway, card type, and whether the card is domestic or international. For a business processing ₱500,000 a month in card sales, that cost can exceed ₱20,000 monthly — before any platform or monthly subscription fees.
Understanding where those fees go — and where alternatives exist — is the first step to managing payment costs intelligently.
Why Are Card Fees So High in the Philippines?
Card acceptance fees are not a single charge. Every card transaction passes through at least three parties, each taking a cut.
Interchange fee — paid to the card-issuing bank (e.g. BDO, BPI, Metrobank). This is the largest component and is set by Visa and Mastercard. It varies by card type: premium or rewards cards carry higher interchange than basic debit cards.
Network or scheme fee — paid to Visa or Mastercard for using their network. This is a smaller percentage but non-negotiable.
Gateway or acquirer margin — the fee charged by the payment gateway or acquiring bank that processes the transaction on behalf of the merchant. This is where provider pricing varies most.
The Bangko Sentral ng Pilipinas (BSP) regulates payment system operators and has taken steps to promote competition and transparency in the payments industry — but interchange rates themselves are largely set by international card networks, outside domestic regulatory control. This means Philippine merchants face structurally higher card costs than they would for local payment rails.
International or cross-border cards carry even higher fees. A tourist from Singapore paying with a foreign-issued Visa card at a Makati restaurant triggers a cross-border interchange rate that can push the total fee above 4%.
What Does a Typical Card Fee Look Like in the Philippines?
Fees vary by provider. As a reference point, PayMongo — a Philippines-focused gateway — publicly lists card fees of 3.125% + ₱13.39 for domestic cards and 4.02% + ₱13.39 for international cards. These figures reflect the typical cost range SMEs should expect across most Philippine gateways.
For exact HitPay card rates, see hitpayapp.com/pricing.
One structural issue worth noting: online card transactions in the Philippines carry a T+7 settlement window, meaning funds from online card sales may take up to seven business days to appear in a merchant’s account. In-person card transactions settle faster at T+2. This settlement gap affects working capital — a cost that doesn’t show up in the fee percentage but is real for cash-flow-sensitive SMEs.
How Can Philippine SMEs Reduce Payment Processing Costs?
The most effective strategy is to shift transaction volume away from cards toward lower-cost local payment rails. The Philippines has a mature ecosystem of alternatives that most customers already use.
QR Ph — the lowest-cost option for many merchants
QR Ph is the BSP-mandated interoperable QR payment standard. Any bank or e-wallet app connected to the QR Ph network — including GCash, Maya, UnionBank Online, and most major Philippine banks — can scan a QR Ph code to pay. For merchants, QR Ph fees are generally lower than card rates. Settlement via HitPay for QR Ph transactions occurs at T+1 for domestic payments.
Learn how to set up QR Ph payments for a physical store in HitPay’s guide to accepting QR code payments in the Philippines.
GCash and Maya — high-adoption wallets with lower fees
GCash and Maya are the two dominant e-wallets in the Philippines. According to Statista Philippines e-commerce data, the Philippines e-commerce market continues to grow rapidly, with digital wallets among the most used online payment methods. Offering GCash or Maya at checkout can capture customers who would otherwise pay by card — at a lower processing cost. Both settle at T+1 via HitPay.
InstaPay and PESONet — for bank transfers
InstaPay handles real-time bank transfers up to ₱50,000 per transaction. PESONet covers larger batch transfers. Both are BSP-regulated payment rails with fees that are typically fixed or near-zero for the payer. For B2B invoices or higher-value orders in Quezon City or Davao, PESONet is a practical alternative to card payments. Both methods settle at T+1 via HitPay for domestic transactions.
Over-the-counter payments — for cash-preferred customers
Bayad, ECPay, and Palawan Express outlets cover a wide geographic footprint across the Philippines. Over-the-counter payment acceptance brings in customers who are unbanked or prefer cash — a significant segment given that the World Bank financial inclusion data shows financial inclusion gaps remain across lower-income and rural populations in Southeast Asia. These channels settle at T+1 via HitPay.
Which Payment Methods Should a Philippine SME Prioritise?
The right mix depends on the business type and customer profile. The table below outlines key local options available to Philippine merchants:
Payment Method | Settlement (HitPay) | Best For |
|---|---|---|
QR Ph | T+1 | In-person, broad bank/wallet coverage |
GCash | T+1 | High-volume consumer payments |
Maya | T+1 | Online and in-person, younger shoppers |
InstaPay | T+1 | Real-time bank transfers up to ₱50,000 |
PESONet | T+1 | Larger B2B or batch transfers |
Cards (in-person) | T+2 | Tourists, corporate cards, no-wallet customers |
Cards (online) | T+7 | Online checkout where card is the only option |
Over-the-counter | T+1 | Cash-preferred, unbanked, rural customers |
For merchants who cannot avoid card payments entirely — especially those with an online store serving customers who don’t have GCash or Maya — reducing card volume as a percentage of total sales is still worthwhile. Moving even 30% of transactions from cards to QR Ph or GCash can materially lower the effective processing cost across the month.
HitPay supports all of the above payment methods for Philippine merchants, with no monthly fee, no setup fee, and approval in 1–3 business days. For businesses exploring the full range of local and alternative payment methods in Southeast Asia, the cost difference between card and non-card rails is one of the most actionable levers available.
For a broader overview of Philippine payment gateway options — including fee comparisons across providers — see payment gateway options for Philippine businesses.
Frequently Asked Questions
Why are credit card acceptance fees so high in the Philippines compared to other countries?
Card fees in the Philippines are high because they combine international interchange rates set by Visa and Mastercard, network scheme fees, and local gateway or acquirer margins. The BSP regulates payment system operators, but interchange rates are determined by international card networks outside domestic price controls. The result is a blended rate of 2.5%–4%+ for most merchants — higher than many other markets where domestic card networks with lower interchange exist.
What is the cheapest way to accept payments in the Philippines as a small business?
QR Ph is typically the lowest-cost option for Philippine SMEs. It uses a BSP-mandated interoperable QR standard that works across GCash, Maya, UnionBank Online, and most major Philippine bank apps. GCash and InstaPay are also lower-cost alternatives to cards. HitPay supports all three methods with no monthly fee and T+1 settlement for domestic transactions.
Does HitPay charge a monthly fee for Philippine merchants?
HitPay charges no monthly fee and no setup fee for Philippine merchants. The pricing model is pay-per-transaction only. Merchants are approved in 1–3 business days and can accept QR Ph, GCash, Maya, InstaPay, PESONet, cards, ShopeePay, GrabPay, BillEase, and over-the-counter payments through a single account. For the current transaction fee schedule, visit hitpayapp.com/pricing.
HitPay vs PayMongo — which is better for a Philippine SME trying to lower card fees?
Both HitPay and PayMongo are Philippines-focused gateways with no setup fee. PayMongo’s publicly listed card rate is 3.125% + ₱13.39 for domestic cards. HitPay’s card rates are listed at hitpayapp.com/pricing. The more significant difference is payment method breadth: HitPay supports QR Ph, GCash, Maya, InstaPay, PESONet, ShopeePay, GrabPay, BillEase, UnionBank Online, and over-the-counter channels — giving SMEs more options to route transactions away from higher-cost card rails. PayMongo is best for businesses that primarily need cards and GCash with tight integration into a lending or capital product.
How long does it take to receive card payment funds in the Philippines?
For online card transactions processed through HitPay in the Philippines, funds settle at T+7 (seven business days). In-person card transactions settle next business day in PHP. Non-card domestic methods — including QR Ph, GCash, Maya, InstaPay, PESONet, and GrabPay — settle next business day (T+1). Cross-border payments settle next business day in PHP. This settlement gap is a meaningful cash-flow consideration for SMEs choosing between card and alternative payment rails.
Can Philippine merchants accept payments from international customers using local e-wallets?
Yes. HitPay enables Philippine merchants to accept cross-border payments from international customers using their home-country apps. Supported cross-border methods for Philippines merchants include PayNow (Singapore), DuitNow (Malaysia), QRIS (Indonesia), PromptPay and TrueMoney (Thailand), Rabbit LINE Pay (Thailand), and KakaoPay, PayCo, and LINE Pay (South Korea), and WeChat Pay (China), and WeChat Pay (China). Cross-border transactions settle next business day in PHP. Activation for cross-border methods takes 3–5 business days after submission.
Card Acceptance Fees Philippines — How Philippine SMEs Can Pay Less
Author:
The HitPay Team
Last Updated:
Card acceptance fees in the Philippines can exceed 4% per transaction — but most Philippine consumers already use lower-cost alternatives. This post outlines practical steps Philippine SMEs can take to reduce their processing bill, including QR Ph, GCash, InstaPay, and PESONet, with settlement timing for each.
Quick Answer: Philippine SMEs can reduce card acceptance costs by shifting transaction volume to local payment rails with lower fee structures. QR Ph, GCash, InstaPay, and PESONet all carry lower per-transaction costs than cards and have strong consumer adoption across the Philippines. HitPay supports all of these methods alongside cards — with no monthly fees and next business day PHP payouts for domestic transactions — making it straightforward to offer lower-cost options at checkout without switching platforms.
Card payments are expensive to accept in the Philippines — and for most small businesses, the fee structure is opaque. A boutique in Bonifacio Global City (BGC) or a food stall in Cebu accepting Visa or Mastercard typically pays 2.5% to over 4% per transaction, depending on the gateway, card type, and whether the card is domestic or international. For a business processing ₱500,000 a month in card sales, that cost can exceed ₱20,000 monthly — before any platform or monthly subscription fees.
Understanding where those fees go — and where alternatives exist — is the first step to managing payment costs intelligently.
Why Are Card Fees So High in the Philippines?
Card acceptance fees are not a single charge. Every card transaction passes through at least three parties, each taking a cut.
Interchange fee — paid to the card-issuing bank (e.g. BDO, BPI, Metrobank). This is the largest component and is set by Visa and Mastercard. It varies by card type: premium or rewards cards carry higher interchange than basic debit cards.
Network or scheme fee — paid to Visa or Mastercard for using their network. This is a smaller percentage but non-negotiable.
Gateway or acquirer margin — the fee charged by the payment gateway or acquiring bank that processes the transaction on behalf of the merchant. This is where provider pricing varies most.
The Bangko Sentral ng Pilipinas (BSP) regulates payment system operators and has taken steps to promote competition and transparency in the payments industry — but interchange rates themselves are largely set by international card networks, outside domestic regulatory control. This means Philippine merchants face structurally higher card costs than they would for local payment rails.
International or cross-border cards carry even higher fees. A tourist from Singapore paying with a foreign-issued Visa card at a Makati restaurant triggers a cross-border interchange rate that can push the total fee above 4%.
What Does a Typical Card Fee Look Like in the Philippines?
Fees vary by provider. As a reference point, PayMongo — a Philippines-focused gateway — publicly lists card fees of 3.125% + ₱13.39 for domestic cards and 4.02% + ₱13.39 for international cards. These figures reflect the typical cost range SMEs should expect across most Philippine gateways.
For exact HitPay card rates, see hitpayapp.com/pricing.
One structural issue worth noting: online card transactions in the Philippines carry a T+7 settlement window, meaning funds from online card sales may take up to seven business days to appear in a merchant’s account. In-person card transactions settle faster at T+2. This settlement gap affects working capital — a cost that doesn’t show up in the fee percentage but is real for cash-flow-sensitive SMEs.
How Can Philippine SMEs Reduce Payment Processing Costs?
The most effective strategy is to shift transaction volume away from cards toward lower-cost local payment rails. The Philippines has a mature ecosystem of alternatives that most customers already use.
QR Ph — the lowest-cost option for many merchants
QR Ph is the BSP-mandated interoperable QR payment standard. Any bank or e-wallet app connected to the QR Ph network — including GCash, Maya, UnionBank Online, and most major Philippine banks — can scan a QR Ph code to pay. For merchants, QR Ph fees are generally lower than card rates. Settlement via HitPay for QR Ph transactions occurs at T+1 for domestic payments.
Learn how to set up QR Ph payments for a physical store in HitPay’s guide to accepting QR code payments in the Philippines.
GCash and Maya — high-adoption wallets with lower fees
GCash and Maya are the two dominant e-wallets in the Philippines. According to Statista Philippines e-commerce data, the Philippines e-commerce market continues to grow rapidly, with digital wallets among the most used online payment methods. Offering GCash or Maya at checkout can capture customers who would otherwise pay by card — at a lower processing cost. Both settle at T+1 via HitPay.
InstaPay and PESONet — for bank transfers
InstaPay handles real-time bank transfers up to ₱50,000 per transaction. PESONet covers larger batch transfers. Both are BSP-regulated payment rails with fees that are typically fixed or near-zero for the payer. For B2B invoices or higher-value orders in Quezon City or Davao, PESONet is a practical alternative to card payments. Both methods settle at T+1 via HitPay for domestic transactions.
Over-the-counter payments — for cash-preferred customers
Bayad, ECPay, and Palawan Express outlets cover a wide geographic footprint across the Philippines. Over-the-counter payment acceptance brings in customers who are unbanked or prefer cash — a significant segment given that the World Bank financial inclusion data shows financial inclusion gaps remain across lower-income and rural populations in Southeast Asia. These channels settle at T+1 via HitPay.
Which Payment Methods Should a Philippine SME Prioritise?
The right mix depends on the business type and customer profile. The table below outlines key local options available to Philippine merchants:
Payment Method | Settlement (HitPay) | Best For |
|---|---|---|
QR Ph | T+1 | In-person, broad bank/wallet coverage |
GCash | T+1 | High-volume consumer payments |
Maya | T+1 | Online and in-person, younger shoppers |
InstaPay | T+1 | Real-time bank transfers up to ₱50,000 |
PESONet | T+1 | Larger B2B or batch transfers |
Cards (in-person) | T+2 | Tourists, corporate cards, no-wallet customers |
Cards (online) | T+7 | Online checkout where card is the only option |
Over-the-counter | T+1 | Cash-preferred, unbanked, rural customers |
For merchants who cannot avoid card payments entirely — especially those with an online store serving customers who don’t have GCash or Maya — reducing card volume as a percentage of total sales is still worthwhile. Moving even 30% of transactions from cards to QR Ph or GCash can materially lower the effective processing cost across the month.
HitPay supports all of the above payment methods for Philippine merchants, with no monthly fee, no setup fee, and approval in 1–3 business days. For businesses exploring the full range of local and alternative payment methods in Southeast Asia, the cost difference between card and non-card rails is one of the most actionable levers available.
For a broader overview of Philippine payment gateway options — including fee comparisons across providers — see payment gateway options for Philippine businesses.
Frequently Asked Questions
Why are credit card acceptance fees so high in the Philippines compared to other countries?
Card fees in the Philippines are high because they combine international interchange rates set by Visa and Mastercard, network scheme fees, and local gateway or acquirer margins. The BSP regulates payment system operators, but interchange rates are determined by international card networks outside domestic price controls. The result is a blended rate of 2.5%–4%+ for most merchants — higher than many other markets where domestic card networks with lower interchange exist.
What is the cheapest way to accept payments in the Philippines as a small business?
QR Ph is typically the lowest-cost option for Philippine SMEs. It uses a BSP-mandated interoperable QR standard that works across GCash, Maya, UnionBank Online, and most major Philippine bank apps. GCash and InstaPay are also lower-cost alternatives to cards. HitPay supports all three methods with no monthly fee and T+1 settlement for domestic transactions.
Does HitPay charge a monthly fee for Philippine merchants?
HitPay charges no monthly fee and no setup fee for Philippine merchants. The pricing model is pay-per-transaction only. Merchants are approved in 1–3 business days and can accept QR Ph, GCash, Maya, InstaPay, PESONet, cards, ShopeePay, GrabPay, BillEase, and over-the-counter payments through a single account. For the current transaction fee schedule, visit hitpayapp.com/pricing.
HitPay vs PayMongo — which is better for a Philippine SME trying to lower card fees?
Both HitPay and PayMongo are Philippines-focused gateways with no setup fee. PayMongo’s publicly listed card rate is 3.125% + ₱13.39 for domestic cards. HitPay’s card rates are listed at hitpayapp.com/pricing. The more significant difference is payment method breadth: HitPay supports QR Ph, GCash, Maya, InstaPay, PESONet, ShopeePay, GrabPay, BillEase, UnionBank Online, and over-the-counter channels — giving SMEs more options to route transactions away from higher-cost card rails. PayMongo is best for businesses that primarily need cards and GCash with tight integration into a lending or capital product.
How long does it take to receive card payment funds in the Philippines?
For online card transactions processed through HitPay in the Philippines, funds settle at T+7 (seven business days). In-person card transactions settle next business day in PHP. Non-card domestic methods — including QR Ph, GCash, Maya, InstaPay, PESONet, and GrabPay — settle next business day (T+1). Cross-border payments settle next business day in PHP. This settlement gap is a meaningful cash-flow consideration for SMEs choosing between card and alternative payment rails.
Can Philippine merchants accept payments from international customers using local e-wallets?
Yes. HitPay enables Philippine merchants to accept cross-border payments from international customers using their home-country apps. Supported cross-border methods for Philippines merchants include PayNow (Singapore), DuitNow (Malaysia), QRIS (Indonesia), PromptPay and TrueMoney (Thailand), Rabbit LINE Pay (Thailand), and KakaoPay, PayCo, and LINE Pay (South Korea), and WeChat Pay (China), and WeChat Pay (China). Cross-border transactions settle next business day in PHP. Activation for cross-border methods takes 3–5 business days after submission.
Card Acceptance Fees Philippines — How Philippine SMEs Can Pay Less
Author:
The HitPay Team
Last Updated:
Card acceptance fees in the Philippines can exceed 4% per transaction — but most Philippine consumers already use lower-cost alternatives. This post outlines practical steps Philippine SMEs can take to reduce their processing bill, including QR Ph, GCash, InstaPay, and PESONet, with settlement timing for each.
Quick Answer: Philippine SMEs can reduce card acceptance costs by shifting transaction volume to local payment rails with lower fee structures. QR Ph, GCash, InstaPay, and PESONet all carry lower per-transaction costs than cards and have strong consumer adoption across the Philippines. HitPay supports all of these methods alongside cards — with no monthly fees and next business day PHP payouts for domestic transactions — making it straightforward to offer lower-cost options at checkout without switching platforms.
Card payments are expensive to accept in the Philippines — and for most small businesses, the fee structure is opaque. A boutique in Bonifacio Global City (BGC) or a food stall in Cebu accepting Visa or Mastercard typically pays 2.5% to over 4% per transaction, depending on the gateway, card type, and whether the card is domestic or international. For a business processing ₱500,000 a month in card sales, that cost can exceed ₱20,000 monthly — before any platform or monthly subscription fees.
Understanding where those fees go — and where alternatives exist — is the first step to managing payment costs intelligently.
Why Are Card Fees So High in the Philippines?
Card acceptance fees are not a single charge. Every card transaction passes through at least three parties, each taking a cut.
Interchange fee — paid to the card-issuing bank (e.g. BDO, BPI, Metrobank). This is the largest component and is set by Visa and Mastercard. It varies by card type: premium or rewards cards carry higher interchange than basic debit cards.
Network or scheme fee — paid to Visa or Mastercard for using their network. This is a smaller percentage but non-negotiable.
Gateway or acquirer margin — the fee charged by the payment gateway or acquiring bank that processes the transaction on behalf of the merchant. This is where provider pricing varies most.
The Bangko Sentral ng Pilipinas (BSP) regulates payment system operators and has taken steps to promote competition and transparency in the payments industry — but interchange rates themselves are largely set by international card networks, outside domestic regulatory control. This means Philippine merchants face structurally higher card costs than they would for local payment rails.
International or cross-border cards carry even higher fees. A tourist from Singapore paying with a foreign-issued Visa card at a Makati restaurant triggers a cross-border interchange rate that can push the total fee above 4%.
What Does a Typical Card Fee Look Like in the Philippines?
Fees vary by provider. As a reference point, PayMongo — a Philippines-focused gateway — publicly lists card fees of 3.125% + ₱13.39 for domestic cards and 4.02% + ₱13.39 for international cards. These figures reflect the typical cost range SMEs should expect across most Philippine gateways.
For exact HitPay card rates, see hitpayapp.com/pricing.
One structural issue worth noting: online card transactions in the Philippines carry a T+7 settlement window, meaning funds from online card sales may take up to seven business days to appear in a merchant’s account. In-person card transactions settle faster at T+2. This settlement gap affects working capital — a cost that doesn’t show up in the fee percentage but is real for cash-flow-sensitive SMEs.
How Can Philippine SMEs Reduce Payment Processing Costs?
The most effective strategy is to shift transaction volume away from cards toward lower-cost local payment rails. The Philippines has a mature ecosystem of alternatives that most customers already use.
QR Ph — the lowest-cost option for many merchants
QR Ph is the BSP-mandated interoperable QR payment standard. Any bank or e-wallet app connected to the QR Ph network — including GCash, Maya, UnionBank Online, and most major Philippine banks — can scan a QR Ph code to pay. For merchants, QR Ph fees are generally lower than card rates. Settlement via HitPay for QR Ph transactions occurs at T+1 for domestic payments.
Learn how to set up QR Ph payments for a physical store in HitPay’s guide to accepting QR code payments in the Philippines.
GCash and Maya — high-adoption wallets with lower fees
GCash and Maya are the two dominant e-wallets in the Philippines. According to Statista Philippines e-commerce data, the Philippines e-commerce market continues to grow rapidly, with digital wallets among the most used online payment methods. Offering GCash or Maya at checkout can capture customers who would otherwise pay by card — at a lower processing cost. Both settle at T+1 via HitPay.
InstaPay and PESONet — for bank transfers
InstaPay handles real-time bank transfers up to ₱50,000 per transaction. PESONet covers larger batch transfers. Both are BSP-regulated payment rails with fees that are typically fixed or near-zero for the payer. For B2B invoices or higher-value orders in Quezon City or Davao, PESONet is a practical alternative to card payments. Both methods settle at T+1 via HitPay for domestic transactions.
Over-the-counter payments — for cash-preferred customers
Bayad, ECPay, and Palawan Express outlets cover a wide geographic footprint across the Philippines. Over-the-counter payment acceptance brings in customers who are unbanked or prefer cash — a significant segment given that the World Bank financial inclusion data shows financial inclusion gaps remain across lower-income and rural populations in Southeast Asia. These channels settle at T+1 via HitPay.
Which Payment Methods Should a Philippine SME Prioritise?
The right mix depends on the business type and customer profile. The table below outlines key local options available to Philippine merchants:
Payment Method | Settlement (HitPay) | Best For |
|---|---|---|
QR Ph | T+1 | In-person, broad bank/wallet coverage |
GCash | T+1 | High-volume consumer payments |
Maya | T+1 | Online and in-person, younger shoppers |
InstaPay | T+1 | Real-time bank transfers up to ₱50,000 |
PESONet | T+1 | Larger B2B or batch transfers |
Cards (in-person) | T+2 | Tourists, corporate cards, no-wallet customers |
Cards (online) | T+7 | Online checkout where card is the only option |
Over-the-counter | T+1 | Cash-preferred, unbanked, rural customers |
For merchants who cannot avoid card payments entirely — especially those with an online store serving customers who don’t have GCash or Maya — reducing card volume as a percentage of total sales is still worthwhile. Moving even 30% of transactions from cards to QR Ph or GCash can materially lower the effective processing cost across the month.
HitPay supports all of the above payment methods for Philippine merchants, with no monthly fee, no setup fee, and approval in 1–3 business days. For businesses exploring the full range of local and alternative payment methods in Southeast Asia, the cost difference between card and non-card rails is one of the most actionable levers available.
For a broader overview of Philippine payment gateway options — including fee comparisons across providers — see payment gateway options for Philippine businesses.
Frequently Asked Questions
Why are credit card acceptance fees so high in the Philippines compared to other countries?
Card fees in the Philippines are high because they combine international interchange rates set by Visa and Mastercard, network scheme fees, and local gateway or acquirer margins. The BSP regulates payment system operators, but interchange rates are determined by international card networks outside domestic price controls. The result is a blended rate of 2.5%–4%+ for most merchants — higher than many other markets where domestic card networks with lower interchange exist.
What is the cheapest way to accept payments in the Philippines as a small business?
QR Ph is typically the lowest-cost option for Philippine SMEs. It uses a BSP-mandated interoperable QR standard that works across GCash, Maya, UnionBank Online, and most major Philippine bank apps. GCash and InstaPay are also lower-cost alternatives to cards. HitPay supports all three methods with no monthly fee and T+1 settlement for domestic transactions.
Does HitPay charge a monthly fee for Philippine merchants?
HitPay charges no monthly fee and no setup fee for Philippine merchants. The pricing model is pay-per-transaction only. Merchants are approved in 1–3 business days and can accept QR Ph, GCash, Maya, InstaPay, PESONet, cards, ShopeePay, GrabPay, BillEase, and over-the-counter payments through a single account. For the current transaction fee schedule, visit hitpayapp.com/pricing.
HitPay vs PayMongo — which is better for a Philippine SME trying to lower card fees?
Both HitPay and PayMongo are Philippines-focused gateways with no setup fee. PayMongo’s publicly listed card rate is 3.125% + ₱13.39 for domestic cards. HitPay’s card rates are listed at hitpayapp.com/pricing. The more significant difference is payment method breadth: HitPay supports QR Ph, GCash, Maya, InstaPay, PESONet, ShopeePay, GrabPay, BillEase, UnionBank Online, and over-the-counter channels — giving SMEs more options to route transactions away from higher-cost card rails. PayMongo is best for businesses that primarily need cards and GCash with tight integration into a lending or capital product.
How long does it take to receive card payment funds in the Philippines?
For online card transactions processed through HitPay in the Philippines, funds settle at T+7 (seven business days). In-person card transactions settle next business day in PHP. Non-card domestic methods — including QR Ph, GCash, Maya, InstaPay, PESONet, and GrabPay — settle next business day (T+1). Cross-border payments settle next business day in PHP. This settlement gap is a meaningful cash-flow consideration for SMEs choosing between card and alternative payment rails.
Can Philippine merchants accept payments from international customers using local e-wallets?
Yes. HitPay enables Philippine merchants to accept cross-border payments from international customers using their home-country apps. Supported cross-border methods for Philippines merchants include PayNow (Singapore), DuitNow (Malaysia), QRIS (Indonesia), PromptPay and TrueMoney (Thailand), Rabbit LINE Pay (Thailand), and KakaoPay, PayCo, and LINE Pay (South Korea), and WeChat Pay (China), and WeChat Pay (China). Cross-border transactions settle next business day in PHP. Activation for cross-border methods takes 3–5 business days after submission.
Ready to apply what you just read?
Turn payment insights into action with HitPay’s online and in-person payment tools for growing businesses.
Ready to apply what you just read?
Turn payment insights into action with HitPay’s online and in-person payment tools for growing businesses.
Ready to apply what you just read?
Turn payment insights into action with HitPay’s online and in-person payment tools for growing businesses.
Ready to apply what you just read?
Turn payment insights into action with HitPay’s online and in-person payment tools for growing businesses.
Ready to apply what you just read?
Turn payment insights into action with HitPay’s online and in-person payment tools for growing businesses.