Philippines positively differ from other Asian countries in their relationship towards cryptocurrencies and implementation of Bitcoin payments into the MetroDeal and CashCashPinoy checkouts is a proof of that.
Both merchants use Coins.ph to process their payments. The checkout platform was founded in 2013 was originally thought to work on predominantly Asian grounds but sudden success will allow it grow beyond the region, as speculated by Ron Hose.
Ron is the co-founder of the company and he explains why the main direction of expansion should be Southeast Asia:
“Less than 5% of people in Southeast Asia have credit cards – the rest end up paying for online transactions next day in line at the bank or COD, a huge pain for both customers and online merchants. Bitcoin solves a real problem here – increasing conversion and lowering transaction cost for the merchant, and providing far more access to customers.”
For the majority of the people in Southeast Asia it’s simply impossible to use traditional methods of payment due to the high prices of transactions. That’s why Coin.ph was initially designed to allow people use financial services cheap and easy.