At its 2025 Payments Summit, EBANX announced its expansion into the Philippines, marking a key milestone in its Asia Pacific growth strategy. The move positions EBANX at the centre of one of Asia’s fastest-growing digital economies, connecting international merchants to a market with soaring online activity yet limited global payment access.
Sean Yu, Vice President of Commercial for APAC at EBANX, described the Philippines as the “next natural step” in the company’s regional journey.
Nearly 98 per cent of Filipinos are online, but only about three per cent hold international cards, creating a significant access gap for global commerce. By integrating leading digital wallets GCash and Maya, which together serve more than 136 million accounts, EBANX enables seamless local payments and strengthens its mission to promote financial inclusion across emerging markets.
In this email interview with e27, Yu explains in detail how the company view the new market. The following is an edited excerpt of the conversation:
According to EBANX’s PCMI data, the Philippines’ e-commerce market will grow from US$36 billion to US$61 billion by 2028. What are the key forces driving this rapid expansion, and which sectors or consumer segments do you expect to benefit the most?
From a payments perspective, the ecosystem is evolving quickly. Digital payments are rapidly replacing cash as the preferred method for online purchases (the share of digital payment transactions to total monthly retail payments has grown to more than 50 per cent in 2023 from 42.1 percent in 2022, according to Bangko Sentral ng Pilipinas). Platforms such as GCash and Maya have become gateways for millions of consumers who previously lacked access to traditional banking or international credit cards.
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This mirrors the same transformation we’ve seen with Pix in Brazil and UPI in India. Local payment innovations are unlocking new levels of inclusion and fueling digital commerce growth.
In terms of sectors, we expect online retail, travel, SaaS, and gaming to benefit the most, which together account for nearly 80 per cent of the market opportunity, according to PCMI data analysed by EBANX. Our role is to ensure that as these verticals grow, global merchants can offer localised, frictionless payment experiences that meet Filipino consumers where they are: on their phones, in real time, and in local currency.
With only three per cent card ownership among adults, alternative payments such as e-wallets and account-based transfers dominate. How are global merchants adapting their strategies to serve consumers who are largely “beyond cards”?
The Philippines is a perfect example of how the global digital economy is moving beyond cards. With only about three per cent of adults owning a credit card, according to the World Bank, the real story is about the rise of alternative payment methods, especially digital wallets, which are now at the heart of how Filipinos transact online.
Global merchants entering this market are realising that success depends on localisation, not replication. Rather than trying to drive credit card usage, they are adapting their checkout experiences to reflect local consumer behaviour. This means integrating e-wallets like GCash and Maya, supporting real-time bank transfers, and even enabling cash-based vouchers for unbanked consumers. These options are the primary payment methods that define access to digital commerce.
And that’s why we integrate both GCash and Maya wallets simultaneously for our global merchants, because the two wallets are complementary and together provide much broader coverage of the Filipino market. Although their offerings are similar, they serve different user profiles. Integrating both significantly expands reach to local consumers who heavily rely on digital wallets for payments.
What does localisation mean in payments today? How does EBANX help global brands navigate these nuances?
Localisation in payments today goes far beyond simply accepting a local currency or adding a popular e-wallet. It’s about adapting the entire payment experience to how people actually live, bank, and shop in each market. That includes language, preferred payment methods, user experience, settlement flows, refund processes, compliance, and even how promotions and instalments are handled.
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In emerging markets, these nuances can make the difference between a successful market entry and a failed one.
At EBANX, localisation is built into our DNA. We’ve spent more than a decade connecting global brands with consumers across over 20 emerging markets in Latin America, Africa, and Asia, and we’ve learned that every country operates on its own logic. In Brazil, for instance, the majority of online purchases use Pix; in India, UPI dominates both one-time and recurring transactions; and in the Philippines, mobile wallets are leading the way. Each of these systems requires distinct integrations, regulatory frameworks, and user flows.
What EBANX offers is a single platform that bridges these local realities with global operations. We provide access to over 200 local payment methods, full settlement capabilities without requiring local entities, and the expertise to navigate local regulations and consumer behaviours. Our mission is to simplify the complexity of payments, enabling global brands—from digital platforms to streaming services, SaaS, and gaming companies—to focus on growth while we handle the local layers that make it possible.
As VP of Commercial, what are the biggest challenges merchants are facing this year when entering or scaling in Southeast Asia? And how has EBANX’s approach to merchant support evolved to address them?
One of the biggest challenges global merchants face when entering or scaling in Southeast Asia is the fragmentation of payment ecosystems. The region is extremely dynamic and highly diverse, with each market operating under a different regulatory environment, with its own preferred payment methods, currencies, and consumer expectations. A single “Southeast Asia strategy” simply doesn’t work. What drives conversion in Indonesia, for example, might not resonate in the Philippines or Vietnam.
Another challenge is balancing speed with compliance. The regulatory frameworks around cross-border payments and data are evolving quickly, and merchants need partners that can ensure compliance without compromising on agility or time-to-market. Add to this the operational complexity of managing settlements across multiple currencies and the rising consumer expectation for instant, mobile-native payment experiences. It’s a lot to navigate.
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That’s where EBANX’s approach to merchant support has evolved. We’ve moved from being purely a payment processor to becoming a strategic growth partner. Our teams in Shanghai, Singapore, and India provide localised, in-time-zone support for merchants across Asia, offering data-driven insights to improve conversion and approval rates. We help merchants optimise their checkout experiences, choose the right mix of local payment methods, and ensure smooth settlement flows through our Singapore hub.
In markets where digital literacy and fraud risk remain concerns, trust is everything. How can fintech players and merchants collaborate to make payments not just seamless, but trusted and human?
Trust is the currency of digital commerce. In markets where digital literacy varies and fraud risk is a concern, the real challenge is not just building faster payment systems, but building systems that people feel safe using. Seamless doesn’t mean much if users don’t trust the process behind it.
For fintechs such as EBANX and for global merchants, that means combining technology with empathy. It starts with transparency and control—clear payment flows, instant confirmations, visible refund options, and secure authentication processes that don’t feel intrusive.
Consumers in emerging markets want reassurance that their money is going where it should, and that their personal data is protected. That’s why we invest heavily in compliance and risk management, with dedicated teams and automated systems monitoring transactions across all markets where we operate.
But trust isn’t only about security; it’s also about familiarity. In Brazil, for instance, people trust Pix because it was built by the Central Bank and embedded in their daily lives. In the Philippines, wallets such as GCash and Maya earned users’ confidence through accessibility and real-world utility. As fintechs, our role is to integrate these trusted local systems into global commerce while maintaining the same level of safety and user experience that consumers already rely on.
Ultimately, technology builds infrastructure, but people build trust. At EBANX, we see every transaction as a human interaction. It’s someone buying a game, paying for education, or running a business. When fintechs and merchants collaborate around that understanding, payments become more than transactions; they become connections.
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Image Credit: EBANX
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