First P2P Platform Set to Change How Businesses Make Cross-Border Payments
Aug 28, 2019 — Some products can be cheaper if bought in Japan or China compared to The Philippines. One thing stopping Filipinos from enjoying these discounts are the cost and inconvenience of making a cross-border payment.
Asian Fintech start-up GDP Inc. is launching a Peer-to-Peer solution for businesses called PEZZAPay. The platform matches users with someone in Japan or China tasked to execute a desired payment on behalf of the user.
Users provide the funds locally, allowing them to bypass up to 80% of transaction costs and to settle payments within 1 day. The platform safeguards the transaction process.
Victor Wu, co-founder of GDP inc., says: “As businesses grow and experience more cross-border activity, they face a traditional banking system that often overlooks SMEs.
“Traditional methods provide inefficient cross-border services with expensive fees, long transaction times, unfavorable exchange rates and even transparency issues.
“GDP aims to make PEZZAPay the best fintech alternative that allows its users to access a faster, cheaper, easy-to-use and reliable cross-border payment solution”
Early testers of the platform say: “It’s like asking a friend you trust to pay for you abroad and having the peace of mind that everything will be ok”
PEZZAPay is now available for early adopters. The platform anticipates to grow its user poll in the upcoming weeks to facilitate the innovative payment ecosystem.
To encourage new users to discover the benefits of using the PEZZAPay platform, GDP is offering an unprecedented 0% service fee in all transactions from now until October 31st.
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