Multi-payment platform Electronic Commerce Payments Inc. (ECPay) has reported a significant increase in digital merchant partners, biller portfolio, and customer reach during the pandemic as many Filipinos shift to digital channels to remain safe from COVID-19 infection.
ECPay has recorded an 18% increase in digital merchant partners in April to July resulting in a 114% hike in the number of customers reached via mobile apps for eMoney, banking, lending as well as payment vending machines.
The service currently has direct access to about 27 million customers nationwide using various digital channels. ECPay also has 560 unique merchant partners with physical stores with a reach of 25,000 outlets nationwide.
The company’s biller portfolio also went up by 20% from 286 to 345 unique billers, expanding ECPay’s total portfolio to 2,872 billers, with growth coming from billers engaged in loans, water, electric cooperatives, cable and internet, schools, and courier services.
“We are seeing the public’s growing willingness to adopt the digital lifestyle and we are glad to be able to support them by providing convenience through various touchpoints that may be closer to our customers and easier to get to for bills payment, cash-in services, and purchase of electronic load. We now have a good mix of traditional and digital channels that we enable with the one-stop shop proposition,” said Jasmin Montelibano, ECPay CEO.
Merchants with physical outlets, specifically pawnshops, have also dramatically grown their e-money business. GCash cash-in volume, for instance, went up by as much as five times in Apr-July as compared to the pre-COVID level.
ECPay also continues to work on improving its backend operations and providing better tools for its workforce to allow the company the flexibility to adapt to various working models under the new normal.
Globe acquired 77% equity interest in ECPay for approximately PHP 1.54B in October last year, adding value to Globe’s distribution channels and enabling it to provide small business owners with a platform to offer more products and services. This in turn will help stimulate growth in the e-commerce industry and the digital economy, supporting Globe’s commitment to the UN Sustainable Development Goals, particularly UNSDG No. 9 on Industry, Innovation, and Infrastructure.