PayEasy Wallet

PayEasy Wallet

The PayEasy Wallet online payment system revolves around the concept of an electronic Wallet. A person who wishes to purchase goods or services from a PayEasy Merchant registers and opens a Wallet account first. The Wallet will then be funded with credits using any of the available funding sources. Presently, the supported funding sources are:

• Bancnet ATM cards (http://www.bancnetonline.com)
• MegaLink ATM cards (http://www.megalink.com.ph/content.php?page=services)
• Globe G-Cash (https://www.payeasy.ph/faq-gcash.asp)
• Smart Money (http://www.smart.com.ph/Corporate/Services/SmartMoney/)
• Offline, over-the-counter deposits through Banco de Oro, Eastwest Bank, Chinabank, Western Union, M. Lhuillier and Cebuana Lhuillier (http://www.payeasy.ph/faq-offline.asp)

Once the wallet is funded, the online customer can proceed to pay any PayEasy merchant. The Merchant's e-commerce website accepts the Wallet credits and fulfills the transaction. Mozcom then settles payment with the Merchant on a scheduled basis. Wallet credits are not convertible to cash. PayEasy may not be used as a remittance medium.

The simplicity in the system is Merchants do not have to know how the Wallet was funded. By just accepting Wallet credits, they can indirectly accept payments from any of the funding sources mentioned above without the hassle of talking to multiple financial institutions and integrating with numerous technology platforms. Merchants can focus on what they do best -- selling their products!

Merchants accepting PayEasy Wallet-based payments enjoy real-time confirmation of online payments with virtually no risk as there are no chargebacks for Wallet-based payments unlike with credit cards or PayPal.