- Growth
of 466% in transaction value 2018 v 2017
- Growth
of 375% in transaction volume 2018 v
2017
- Over
100% growth in network locations across the Philippines 2018 v 2017
Manila, Philippines - Fexco EasyDebit, one of the Philippines
most innovative fintech solutions is today marking a significant period of
growth having processed over 1billion pesos in transactions since its launch in
2017. The growth is further reflected in increases of cash withdrawal amounts
(up 466% in 2018 v 2017) and transaction volume (up 375% in 2018 v 2017).
EasyDebit is a unique service that
uses a mobile Point of Sale (or mPOS Pin Entry Device) and a mobile phone
allowing customers in the Philippines to withdraw cash using their ATM card at
any number of local accredited merchants including; payment and remittance
centres, retailers, rural banks and cooperatives instead of having to travel to
an ATM.
EasyDebit
is a ‘plug and play’ solution requiring minimal installation for merchants who
simply download the EasyDebit Mobile App. The solution has the capacity to
reach over 100million people, many of whom are disconnected from the limited
ATM infrastructure in the Philippines. Through merchant uptake and
participation EasyDebit promotes financial inclusion by providing more secure
access to cash withdrawal for the millions of unbanked Filipinos. Uptake of
EasyDebit increased by 100% in 2018 (v2017) and the solution is now live with
over 700 merchants across the country.
Speaking about the growth
seen by EasyDebit this year, Ann Chan Foley, CEO at Fexco Philippines, Inc.
commented, “2018 represents a significant year for the business. We have seen
hugely positive growth trends across the county in terms of transaction volume,
value and merchant growth demonstrating the robustness of the solution. We are
excited to continue this growth in 2019 as we further expand the EasyDebit
network helping to reach more unbanked and underserved Filipinos.”
About Fexco
Recognised
as one of the world’s original and most established fintech organisations,
Fexco employs over 2,300 people across its suite of companies headquartered in
Killorglin, Co. Kerry located in the South West of Ireland. Founded in 1981, Fexco now has operations in
29 countries across Europe, the Middle East, Asia-Pacific, North America and
Latin America.
Fexco serves some of the world’s biggest
brands across multiple industries, predominantly in the payments and FX
sectors, through a wide range of innovative products and services including;
Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Tax Free
Shopping and Retail FX. Fexco also offers bespoke Managed Business Solutions
and Outsourcing services as well as a full suite of payment management
solutions through its Corporate Payments business.
Since
inception, Fexco has been driven by an entrepreneurial and innovative spirit.
This ethos has brought the company to new regions and industries of growth,
connecting customers with exciting new opportunities. Through its commitment to
partnership and innovation, the company has built an international network of
customers. To find out more visit www.fexco.com
About EasyDebit
FEXCO has developed a microATM
card solution for merchants which allows merchants to offer cardholders cash
out and balance inquiries. The EasyDebit solution acts as an additional revenue
stream for merchants who earn a fee from each transaction. The solution is safe
and secure, accredited to the highest security standards - PCI DSS and EMV
Level 1 & 2 compliant. To find out more visit www.easydebitasia.com
