How do you pay online? What payment solution do you use when paying for example, airfare tickets or paying your electric bills?
The rise of online shops around the globe are evident. Retail stores, boutiques, gadgetry, and a lot more are shifting to the digital platform, which effectively acknowledges the lifestyle of the market today. It is almost inevitable for businesses in today’s era not to engage their brand through technology. And happy to say, most brands in various sectors and industries have adapted to the fast pace world of online shopping. Take for example our previous article for that matter.
But how ready is the market for the growth of online businesses? Only 5 percent out of 100 million Filipinos carry credit cards in their pockets and only 20 percent to 25 percent have bank accounts. Needless to say, many of the population are still comfortable paying through cash basis transactions. With that being laid out, how exactly do you target the vast majority who do not have access to their own credit card? The quick answer to that would be Dragonpay.
Dragonpay is an online payment solution to your digital problem. It assists online entrepreneurs and merchants accept and disperse payments online. Certainly providing convenience, protection, and low transaction fees to their internal business process. Also, it opens the doors of online shops to the Filipino population, which is mostly comprised of non-credit cardholders.
We’ve had our first share of encounter with Dragonpay when we booked a flight for an AirAsia flight back in 2013. The transaction was smooth and all we had to do is wait for the confirmation online and paid our Dragonpay billing statement through 7-11 store.
Dragonpay promotes convenience to both merchants and buyers for they partnered with payment channels such as banks, mobile payments, ATM’s, and brick-and-mortar payment centers. Why them? These venues of transaction are widely available nationwide, which significantly widens the scope of online payment methods.
Protection from fraud
It also offers protection from fraud. In general, sending out private information to third party establishments is terrifying. What more with technology? Transparency within the cyber realm is not all too assuring compared to face-to-face interactions, where you actually see who you are communicating with. This is one of the reasons why people are not too submissive when providing their credit card information online. Dragonpay created a solution to this issue. It lets you pay either through an online banking channel or over-the-counter. For the latter mode of payment, it involves the traditional bank deposit method while the other mode involves logging in to your existing online bank account.
Low transaction fees
The third promise of Dragonpay is low transaction fees. Credit card companies do not hold a set rate for online transactions. A lot of factors come in when they compute for the percentage that they will extract from your transactions. Dragonpay, on the other hand, does not observe this fluctuating process. Dragonpay set the following charges to all their transactions: Php 10.00 for online banking transactions, Php 15.00 for over-the-counter banking transactions, and Php 20.00 for over-the-counter non-banking transactions. This assures merchants that they receive a bigger chunk of their sales.
Dragonpay has a lot more to offer than what has been mentioned above. To know more, you can visit their website at www.dragonpay.ph and get informed on this new alternative payment solution.
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