BNPL firm BillEase partners with 2C2P for expansion in the Philippines

Filipino buy now, pay later (BNPL) app BillEase announced it has partnered with 2C2P, a fintech company based in Singapore, to widen access to its BNPL services for users in the Philippines through the latter’s merchant network.

Photo credit: 2C2P

The partnership will allow 2C2P’s merchants to activate BillEase’s card-free installment payment option with an integration that does not require customers to sign up for a credit or debit card.

Launched in 2017, BillEase provides consumers with instant credit accounts that can be used to pay at participating merchants without any hidden charges. The company also covers fraud and credit risks by paying on behalf of customers, assuring guaranteed payments for all sellers.

As for the Singapore- and Bangkok-headquartered 2C2P, it helps businesses securely accept payments across online, mobile, and offline channels by providing issue, payout, remittance, and digital goods services.

“By partnering with 2C2P, we can help merchants seamlessly enable an installment option and not only serve their existing customers but also reach new customers, particularly Gen Z and millennials who are looking for accessibility and simplicity when it comes to payment,” said Georg Steiger, co-founder and CEO of First Digital Finance Corporation, BillEase’s parent firm.

Customers can also apply for credit at the checkout page of 2C2P’s merchants or download the BillEase app for instant approval. They can then split their payments over three, six, nine, or 12 months, with interest rates ranging from 0% to 3.49%.

See also: The dark side of ‘buy now, pay later’

The collaboration will also allow BillEase to tap into 2C2P’s alternative payment network, which reaches over 400,000 locations in the Southeast Asian region and uses more than 250 payment options across online and offline channels.

Earlier this year, First Digital Finance Corporation received a license from Bangko Sentral ng Pilipinas, the central bank of Philippines, to operate as a payment system in the country.

​Update (April 13, 7:59 pm): This article was corrected to show that First Digital Finance Corporation received a license from Bangko Sentral ng Pilipinas, not 2C2P.