BillEase, the leading buy now, pay later (BNPL) and consumer finance app in the Philippines, today announced the launch of its new integration stack for large enterprise merchants and payment gateways looking for same-day integration of BNPL service, allowing any business to rapidly offer installment payment plans for their customers.
The new integration stack is a first-of-its-kind solution in the region and is powered by OpenFabric, a Singapore-based technology company which builds infrastructure for payments and financial services in Southeast Asia.
Through this solution, merchants can use BillEase’s agnostic software development kit (SDK) (powered by Open Fabric) to easily add BillEase on their platform. The new stack allows merchant technical teams to deploy a BNPL solution in just 1-3 days, versus the usual integration that takes months to complete, hence saving about 95% of developer time.
“We’re excited to launch this integration solution with OpenFabric to further smoothen the integration work for merchants looking for installment option at checkout,” said Georg Steiger, Chief Executive Officer and Co-Founder of BillEase. “We continue to develop and launch new ways for merchants to easily launch point-of-sale financing without spending too much time and effort integrating our platform.”
“At OpenFabric, we help fintech companies to accelerate their merchant acceptance footprint at scale via simple and quick integrations,” Soma Ramasamy, Chief Executive Officer and Co-Founder of OpenFabric said. “We’re excited to introduce this solution with BillEase and accelerate their merchant onboarding process by providing a quick and easily implementable solution for all kinds of merchants shopping cart and payment platforms”.
BillEase is an on-demand consumer credit app that provides personal loans, e-wallet top-ups, prepaid load, and gaming credits as well as buy now, pay later which allows customers to avail installment plans even without a debit or credit card.
Unlike other BNPL providers, BillEase offers a credit line that shoppers can use to transact online from as simple as food and grocery to big purchases like electronics and furniture. As easy as signing up for an account in less than 5 minutes, shoppers can split payments in affordable installments. Over 1,000+ online and offline retailers in the Philippines are using BillEase as an alternative payment method.
Businesses already offering the BNPL service see a significant increase in sales conversion between 15-25% and average order value (AOV) going up to five times compared to regular payment methods.