ShopeePay supports TouchPay top-up, digital payment transactions in the Philippines are developing rapidly

Digital payment is the most popular form of payment for online transactions. More and more Southeast Asian consumers are beginning to rely on cashless payment methods such as e-wallets to purchase products , and Filipinos are naturally among them.

E -commerce platform Shopee said it will allow ShopeePay users to top up their wallets in TouchPay for greater convenience when topping up their mobile wallets.

ShopeePay is an integrated mobile wallet that provides users with convenient digital payment services . Now , shoppers can top up their wallets at TouchPay automatic payment machines (APMs) at over 600 locations across the Philippines .

In a statement, Shopee said this is part of the company's efforts to provide convenient shopping as more Filipinos choose to shop online.

“ShopeePay and TouchPay make it easier for people to leverage their mobile wallets when shopping, allowing for seamless transactions. TouchPay also allows shoppers to top up their mobile wallets with cash if they don’t have a bank account or credit/debit card,” Shopee said.

In the Philippines, the total transaction value of digital payments will grow at an annual rate of 16%, reaching a total transaction value of around US$28 billion by 2025.

Therefore , Shopee said that as digital payments gain momentum in the coming year, Shopee aims to strengthen its digital payment ecosystem to meet the growing adoption.

“ShopeePay is excited for the opportunity to better serve our users. As users increasingly embrace digital payments, ShopeePay aims to make it more convenient for consumers to transact with us,” said Martin Yu, director of Shopee Philippines.

He added : “We are committed to providing service excellence and will continue to offer our customers the best online shopping experience in 2021.”

As one of the participants in digital wallets, ShopeePay's performance in Southeast Asia continues to grow . According to data from the digital financial services business of Shopee's parent company, the total payment volume of its e-wallet business exceeded US$7.8 billion in 2020.

In addition to the exponential increase in the usage rate of ShopeePay in 2020, it also boosted the business development of the Shopee platform. According to platform data, the total number of Shopee orders paid through e-wallets in the Southeast Asian market increased fourfold in 2020.

Shopee

Digital Payments

Southeast Asia