NextPay is a better alternative to bank accounts for growing businesses and entrepreneurs in the Philippines. We help growing businesses pay their employees, pay their suppliers, and manage their expenses—all on one digital platform.
Growing businesses are the backbone of The Philippines' economy, comprising about 99.52% of all businesses... and yet the vast majority of them don’t have access to efficient and affordable cashless or digital solutions. Most financial solutions are only accessible to larger companies that have the necessary capital or can afford dedicated teams to implement them.
For example, corporate bank accounts or corporate payroll accounts typically require:
In-person appearance in a branch
A sizeable average daily balance (ADB)
A setup fee
Separate requirements for corporate payroll accounts to batch disburse salaries.
You can only disburse salaries to employees within the same bank, even if they already have their personal bank accounts elsewhere, which takes weeks to even months to process.
This results in a lot of growing businesses resorting to manual and inefficient processes of handling their finances, like opening up accounts in different banks, managing multiple eWallets, handling cash and checks, or spreading out the transfer of money over a few days to work with the limits of their institutions.
If you have to suffer through these inefficiencies and obstacles to grow your business, then you'll love what we can do for you. Reach us by answering this form or email us at [email protected].