BillEase, ChatGenie announce partnership to empower online MSMEs with BNPL

Top-rated consumer finance app, BillEase, and the country’s only in-app commerce platform, ChatGenie have embarked on a partnership to empower micro, small, and medium-sized enterprises (MSME).

Founded in 2020, e-commerce and retail company ChatGenie leveraged its expertise by providing solutions to sudden changes in consumer behavior and pandemic protocols. Today, the company offers an end-to-end approach that allows thousands of businesses to set up shop on platforms like Facebook Messenger, Viber, and GCash, without having any coding experience or separate app downloads. ChatGenie's fast-growing multichannel In-App Commerce platform lets customers shop via direct message and provides integrated online payment and automated delivery services to millions of customers online without having to leave the app's messaging thread.

Launched in 2017, BillEase is a versatile finance app that provides various financial services such as personal loans, e-wallet top-ups, prepaid load, gaming credits, bills payment, and a unique buy now, pay later (BNPL) service. This innovative feature allows customers to avail of installment plans even without a debit or credit card, making BillEase the go-to app for financial services.

The partnership will bring a new level of convenience to both consumers and merchants. Retailers will now be able to offer shoppers three cardless installment options at checkout, including Pay Later in 10 or 20 days, Pay in 4 installments for small-to-medium ticket purchases, and Pay Monthly over three, six, nine, or 12 months for big purchases with interest rates between 0% or 3.49 percent – the cheapest rate in the country.

Ragde Falcis, ChatGenie Chief Executive Officer, said, "We are excited to partner with BillEase to provide our merchants with a broader payment solution that will help them grow their businesses. ChatGenie is committed to providing our retailers with opportunities by maximizing the world's biggest apps; this collaboration is a testament to that commitment."

Georg Steiger, CEO and Co-Founder of BillEase, added, "This partnership is a significant step towards achieving our mission to provide financial services that are accessible and convenient for both retailers and consumers. By offering our BNPL service through ChatGenie's innovative platform, we are providing a frictionless payment option that aligns with this shift toward digital transactions."

Through BNPL service, underserved consumers can now enjoy a more flexible payment option, while merchants can increase their sales by offering a wider range of payment methods. Research and Market reported that BNPL payments in the Philippines are expected to grow by 22.5% on an annual basis to reach USD 1.9 billion in 2023.