Pay8, a Philippines based Fintech company represented by its Chairman Kirk A. Arambulo and President Randy Dacasin, today signed with WeChat to integrate their payment system into its platform.
The Pay8 platform currently includes China Union Pay and Alipay in addition to Visa.
Pay8 offers POS (Point of Sale) terminals connected to Bancnet and Plus via VSAT technology to provide banking to remote areas not easily reached by wired connectivity.
Pay8 currently has 250,000 households on its platform, making it a financial distribution pipeline for products such as the Philippine Governments Conditional Cash transfer program which is hampered by lack of connectivity.
Pay8 plans to roll out microinsurance and microlending to its customers in 2019.