What is Dragonpay? Full Payment Method Description | Ikajo

What is Dragonpay?

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Dragonpay is an online payment platform that offers various solutions both for individuals and businesses around the Philippines.

Dragonpay offers online payment solutions to companies and consumers in the Philippines. A payment gateway allows users to use checks, or cash, making transfers at ATMs. In addition, Dragonpay also provides mobile banking and online debit services.

In the Philippines, the amount of credit card users is only 10%, and many of the citizens do not have bank accounts. Statista says that more than half of all inhabitants prefer to pay using cash. Dragonpay, therefore, offers customers various payment methods to cover all needs of a potential buyer and to make the process of payment more convenient.

Another branch that benefits from Dragonpay is e-commerce. Hundreds of online shops have implemented Dragonpay payment solution for daily deals.

The company is especially suitable for those customers who don’t have a PayPal account or credit cards.

The platform automatically tracks offline and online payment transactions and sends a notification to the merchant with the payment confirmation.

How can businesses benefit from Dragonpay?

  • Security

Dragonpay has solutions to protect both merchants and customers. Payment data is the most valuable for online fraudsters, and when using Dragonpay, customers do not have to share it.

An online banking environment ensures the highest level of payment data protection. Merchants have a modern solution to prevent any suspended activity, and, there are no chargebacks occur.

  • Penetrate new markets

Since the majority of Philippians do not use credit cards, merchants should concentrate more on offering alternative payment solutions. If a person has a bank account, the Online Banking channel will allow online, real-time payments.

  • Affordable costs.

The most widespread payment model is when merchants pay a percentage from each transaction to a PSP or bank. Besides, this fee goes along with a traditional fixed fee.

The transaction fee depends on the business type, offering services, credit level, and vary from 3% to 10%.

But the point is that for many services these fees are inadmissible.

Dragonpay cares their merchants and withdraws only a fixed fee instead of huge percentages.

  • Subscription-based payments

The company provides an opportunity to avoid constant monitoring of recurring payments using its platform. The difference between existing solutions and Dragonpay solutions is as follows:

  1. The ability to reach a broad audience
  2. No refunds.
  3. Transaction fees are low.

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