A 2021-launched payment fintech claims to have helped more than 400 small businesses accept and use Bitcoin payments.

The first lightning wallet for the Philippines was created by Pouch.ph, a fintech company, and it is utilizing a large network of small businesses around the nation, from mom-and-pop shops to boutique hotels.

Pouch.ph uses the Lightning Network, which is based on Bitcoin, to speed up, reduce the cost, and improve the usability of digital payments. With the use of any Bitcoin wallet, customers can use this payment protocol to pay by scanning a retailer’s QR code. The process is made simple and effective for both sides by Pouch.ph, which converts the Bitcoin to Pesos and sends the money immediately to the merchant’s bank or mobile money account.

“With credit cards charging up to three percent in fees, one of the biggest obstacles to the growth of small enterprises is the availability of payment options. Bitcoin as a payment mechanism will enable folks who don’t have credit cards or even local fiat cash to make online or in-person purchases in the Philippines, where internet and smartphone usage is on the rise. We’re assisting companies to access a sizable market that was previously untouched, according to Pouch.ph CEO Ethan Rose.

More than 250 local companies in Boracay, a well-known tourist destination, have already signed up with Pouch.ph and started incorporating Bitcoin payments into their everyday business operations. These companies include convenience stores, cafes, hotels, and restaurants.

By accepting Bitcoin as payment, Kasbar restaurant owner Erielyn Gaston was able to expand her clientele and boost revenues.

She stated at a panel discussion at the Bitcoin Island conference that “[Pouch.ph] has been very helpful as another mode of payment other than credit cards and e-wallets which is the usual mode of payment here [in Boracay].”

“It’s really practical to have a quick and simple payment option available so that for us, in regards to boosting income, it encourages people to stay longer since the other option that is there is one of these ATMs that are not from the banks that visitors [use]. You finish up paying 10% to 11% if you withdraw money from these ATMs, according to Tindahan It Boracay Manager Marcel Selfer, if you add up all the costs they charge credit card users less the exchange rate difference.

With this accomplishment as a foundation, the fintech company is actively extending its reach beyond “Boracay Bitcoin Island” and has integrated merchants from Cebu City, Dumaguete, Iloilo, and Bacolod City.

Through Pouch.ph, certain businesses in Metro Manila have begun to accept Bitcoin as a legitimate means of payment. Examples include the nightclub URBN QC in Quezon City, the Draper Startup House in Makati City, and the specialty store KosneyLand housed inside a mall in Mandaluyong City.

Some of our partner businesses utilize Pouch.ph for payroll in addition to accepting payments. Business owners may rapidly send money in batches to employees, suppliers, and other recipients using the batch pay tool. This includes transfers to all of the main banks and e-wallets.

Payroll transfers can be made without incurring any costs straight to a Pouch Netbank Account or with a small fee to a designated bank account. This ground-breaking approach promises to make payment procedures for companies all around the nation simpler and more efficient.

Additionally, Pouch.ph is getting ready to expand its Batch Pay services to include over-the-counter payments made through Palawan Pawnshop, M. Lhuillier, and LBC.

Using BTCMap.org, locals and visitors may locate businesses that accept Bitcoin payments.