In a strategic collaboration aimed at reshaping the future of retail finance, global tech leader Samsung has announced a partnership with BillEase, a top-rated consumer finance app in the Philippines.
Samsung’s online shop now boasts seamless integration with BillEase’s advanced fintech solutions, powered by OpenFabric, an integration middleware for faster merchant acceptance. Shoppers can now choose from a variety of BillEase’s cardless installment options at checkout, including the convenient Pay Later feature, which enables payments to be deferred for either 10 or 20 days. For more modest purchases, customers can opt for Pay in 4 easy installments. Meanwhile, for larger ticket items, the Pay Monthly scheme allows spreading payments over a flexible period of 3 to 12 months, complete with low-interest rates ranging from 0% to 3.49%, making it the most competitive option in the country.
Kurt Molina, Head of Merchant Products at BillEase, expressed the company’s commitment to providing consumers with simple and transparent financial solutions, stating, “We’re thrilled to leverage our financial solutions and business model in collaboration with Samsung to democratize access to the latest high-quality tech products.”
Noel Estacio, Head of Online Business for Samsung Electronics Philippines, underscored the significance of this partnership, saying, “Our goal is to make Samsung technology more accessible to Filipinos, particularly as we celebrate our 25th year in the Philippines. By offering a range of payment plans, this collaboration empowers Filipinos to select a payment option that aligns with their budget and lifestyle.”
Meanwhile, Soma Ramasamy, CEO and co-founder of OpenFabric, emphasized the simplicity and speed of integration they provide, stating, “At OpenFabric, we ensure that payment methods like BillEase and merchants like Samsung can seamlessly integrate, allowing them to focus their efforts on driving consumer purchases. Through this integration, Samsung customers will benefit from the convenience of paying with BillEase, a leader in BNPL payments in the Philippines.”
The integration of BillEase’s Buy Now Pay Later (BNPL) option into Samsung’s online store paves the way for an inclusive market, where cutting-edge technology becomes accessible to more people.
According to researchandmarkets.com, the utilization of BNPL payment methods in the Philippines is expected to see a consistent increase, with a projected compound annual growth rate of 50.9% from 2022 to 2028.