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Payment and Allied Services Sector

Payment Sector

A Business in the Flow of Money

 

The Expresspay franchise operates in a sector which is at the crossroads of where money flows. Payment Services is a broad grouping of related financial services which we defined earlier as Expresspay’s 8 revenue streams or business lines.

 

To get an idea of the size of this sector, consider the following statistics:

 

  • Remittances from OFWs continue to reach record highs, estimated at around $29 Billion Dollars in 2015 or the equivalent of over P1 Trillion Pesos.
  • It is estimated that 80 million Filipinos buy loads for their cell phones regularly; over 2 billion text messages are sent from these phones daily.
  • On average each household has between 3 to 12 bills it pays every month, including utilities such as electricity and water, credit cards, phones and cable subscriptions, insurances and many more.
  • Tourism, both local and international is predicted to continue growing at record rates, particularly in light of the Asean integration and infrastructure investments. It is estimated that 25 million Filipinos visited 2 new places within the country while close to 5 million foreign visitors came to the Philippines in 2015.

The ExpressPay franchise allows you to participate in and get a slice of this enormous and growing sector.