After careful consideration, we are announcing an upcoming adjustment to our pricing structure. This decision is driven by the rising costs of managing and delivering high-quality services to you. While we’ve worked hard to absorb these costs and even reduced our disbursement fee from PHP 15 to PHP 5 in the past, continuing to subsidize these services is no longer sustainable. To maintain the high quality of service and innovation you expect from NextPay, we must implement these changes.
What's Changing?
We're implementing these changes in two phases.
Starting November 1, 2024, we'll adjust our transaction and subscription fees to reflect our enhanced processing capabilities.
Note for older subscribers:
Please check your emails for more detailed information on your grace period.
Transaction Fees
Depending on your subscription tier, this means a change to our per-transaction rates:
Basic: PHP 12 per transaction
Pro: PHP 11 per transaction
Pro Plus: PHP 10 per transaction
Note: The above rates are charged per PHP 50,000 sent to a single recipient. All fees are VAT-inclusive.
Subscription Fees
Tier | Old Rate | New Rate |
Basic | PHP 1,000/month | PHP 1,500/month |
Pro | PHP 2,500/month | PHP 3,750/month |
Pro Plus | PHP 5,000/month | PHP 7,500/month |
Note: All fees are VAT-inclusive.
Other quick FAQs
Why is NextPay increasing its prices?
Why is NextPay increasing its prices?
We're upgrading our infrastructure to handle more transaction volume and improve speed.
Over the past few years, we've worked hard to maintain our competitive rates, even reducing our initial disbursement fee from PHP 15 to PHP 5. However, our operating costs have significantly increased as our banking and payment partners have also raised their fees. While we've absorbed these costs for as long as possible to support growing businesses, we can no longer sustainably do so while maintaining our service quality and reliability.
Where can I find more information about the new pricing structure?
Where can I find more information about the new pricing structure?
For more details about the new pricing structure, you can review the updated information anytime on our pricing page here.
What should I do to keep my subscription updated with this change?
What should I do to keep my subscription updated with this change?
No action is needed on your end—these changes will be applied automatically on the dates specified.
If you have any major concerns about your account, you may contact our support team via live chat or email [email protected], and we’ll be happy to help!
Are there any new features or improvements that come with the price update?
Are there any new features or improvements that come with the price update?
YES! To ensure you will continue to receive additional value, we will soon roll out significant updates and enhancements:
Flex Wallet: Enjoy real-time crediting of deposits for reliable, hassle-free payments without delays. It’s a new feature that can enhance how your business receives and manages payments.
Own Corporate Wallet Account - With your own unique account number that you can send money to easily.
Real Time Deposits - You may send funds directly to your wallet via InstaPay, PesoNet, and SWIFT. Funds will be credited in real time. No more need to upload screenshots to verify deposits.
Faster and More reliable transfers - Our Flex Wallet utilizes the new ISO 20022 payments system, ensuring faster and more reliable inter-bank transfers.
No additional costs - Our new Flex Wallet will be provided to all our customers with valid and fully verified businesses at no additional costs.
Status: We will be rolling out this feature to all our customers incrementally, so stay tuned for more announcements.
Business Database: Get access to a database of potential leads for sales and collaborations.
We are going to launch access to a Business Database that you can use to look for potential leads for sales and collaboration to help your business grow.
Status: We’re aiming to make this readily available before the end of the year. We’ll release more information on this as we get closer to releasing it.
Are there changes in the tier entitlements?
Are there changes in the tier entitlements?
Yes, there are a few adjustments to the benefits of the Pro Plus subscription tier that were previously available to lower tiers. You can see these in the details below, or in our pricing page.
Changes in the exclusive features of Pro Plus Subscribers:
Automated Invoice Payment reminders with read receipts (previously available to Pro Tier)
API and Webhook Integration (previously available to Basic Tier)
Foreign Registered Companies looking to send funds to and within the Philippines (previously available to Basic Tier)
Outside of the benefits listed above, the rest of the entitlements will remain the same.
How do the new prices compare to competitors?
How do the new prices compare to competitors?
We believe in providing exceptional value beyond just competitive pricing. Even with these adjustments, our fees are some of the lowest compared to most banks and other financial platforms in the Philippines. Our service remains much more efficient and transparent, saving you valuable costs beyond transaction fees.
You can continue to enjoy our full suite of services depending on your subscription, empowering you to manage your financial transactions effectively.
What should I do if I have questions about my billing after the increase?
What should I do if I have questions about my billing after the increase?
If you have any questions, feel free to contact our support team via live chat or email [email protected], and we’ll be happy to help.