PR98548

PARIS, SINGAPORE and MANILA, Philippines, Oct. 31, 2022 /PRNewswire=KYODO JBN/ --

Ingenico, a global leader in payments acceptance solutions, announces a

partnership with Premise, a payment-led embedded banking platform to provide

integrated digital payment solutions and financial services to cash-driven

micro merchants across the Philippines.

Ingenico is Premise's preferred certified payment terminal provider, deploying

the AXIUM DX8000. Running on Android, the terminal allows third-party software

integration to enable digital payments for these micro-businesses. Premise will

also scale its service offerings by linking to Ingenico's Payment Platform as a

Service (PPaaS), a cloud-based platform to manage and deliver advanced payment

and commerce services quickly and efficiently to terminals.

In the Philippines, cash remains king as 65% of its population is still

unbanked, amongst the highest in the APAC region. And a viable option for

accessing the financial infrastructures is digital payments like mobile or

digital wallets, requiring only a phone number and valid ID. In 2020, almost 25

million* Filipinos used mobile wallets to make or accept online payments,

presenting a vast opportunity to tap into their existing behaviour offline.

Premise's turnkey universal payment acceptance platform, which includes payment

terminals, financial services capabilities, and regulatory licenses, removes

businesses' reliance on banks for payments. The partnership between Premise and

Ingenico opens an omnichannel payments acceptance platform by bringing

alternative and cashless payment methods directly to the merchant's point of

sale, emulating the online customer experience.

Nigel Lee, Ingenico's Senior Vice President for the Asia Pacific, commented,

"We are proud to partner with Premise and empower the micro-entrepreneurs by

equipping them with digital and alternative payment solutions in their

businesses. It allows them to facilitate their customers' transition from

online payment methods to in-store and become the driving force for cashless

inclusion in their community. This aligns with Ingenico's mission to help shape

the evolution of commerce worldwide."

Gary Repchuk, Premise's founder, said, "Ingenico has provided unparalleled

levels of support to Premise during the integration of the AXIUM DX8000 and

PPaaS by supporting our delivery of a terminal designed for a fully digital

payments experience to cash-first Filipinos. Our designation as an Ingenico

Technology & Channel Partner enables us to lead the market in delivering

cashless inclusion to every corner of the Philippines. Premise shares

Ingenico's vision of enabling this new world of commerce, and we look forward

to working with them over the course of this and future partnerships."

Through the alliance of technologies between Ingenico and Premise and a deep

understanding of local behaviour and existing user experiences, the

micro-businesses point-of-sale is now empowered with flexible, seamless

solutions and promoting cashless inclusion across the depths of the informal

economy.

Catch Premise at Ingenico's Singapore Fintech Festival 2022 booth at Hall 2

sharing their experience on the partnership, supporting micro-merchants, and

cashless inclusion in the Philippines.

* Digital payments in Philippines(

https://www.statista.com/topics/9799/digital-payments-in-the-philippines/#dossierKeyfigures

)

About Ingenico

Ingenico(https://ingenico.com/en) is the global leader in payments acceptance

solutions. As the trusted technology partner for merchants, banks, acquirers,

ISVs, payment aggregators, and fintech customers, our world-class terminals,

solutions, and services enable the global ecosystem of payments acceptance.

With 45 years of experience, innovation is integral to Ingenico's approach and

culture, inspiring our large and diverse community of experts who anticipate

and help shape the evolution of commerce worldwide. At Ingenico, trust and

sustainability are at the heart of everything we do.  

About Premise

Premise(https://www.premisefintech.com/) is a Payment-led Embedded Finance

Platform   that is built on the fact that when all of your platform's

transactions are processed within your platform's rails via your own bank-grade

regulatory infrastructure, then integration costs and complexities for all

financial products gradually disappear. This is the foundation for innovating

banking exactly the way you want it, and this is why the future of finance

begins with Premise.

Premise is powered by Xpay.Worldwide(https://www.xpay.world/) Corporation

(XPAY), including the maintenance of the following compliances: PCI-DSS L1

v3.2.1, AML, KYC, Data Privacy, Operator of a Payment System (Philippine

Central Bank). XPAY is a Global Ingenico Channel and Technology Partner, as

well as a Global Payment Facilitator and Third-Party Processor for Visa,

Mastercard, JCB, and AMEX.

SOURCE: Ingenico