MetroDeals And CashCashPinoy Are Starting To Accept Bitcoins
MetroDeals and CashCashPinoy are both top daily deal startup sites in the Philippine. Both daily deal sites recently announced that they partnered up Coins.ph to start accepting bitcoins on their ecommerce site. Coins.ph is the main bitcoin platform in Philippine. Even though a lot of people use the internet in the Philippines, not a lot of people use credit card payments for their online purchases. A lot of top ecommerce and daily deal sites claim that the reason why they have low sales is because people don’t like using credit card. The credit card rate is too high in Philippine(5-7%).
The checkout system works just about the same as any other bitcoin merchant system in the United States. You check out your cart, then there will be an option for you to log into your coins.ph wallet to send your bitcoins. The merchant receives your bitcoins quickly and can withdraw it to their bank account within 24 hours. Fast and easy with no fees.
Surprisingly, the amount of users using bitcoin in Philippine is slowly rising pass the amount of people using credit cards. With bitcoin getting more and more stable, it seems as if more and more countries are starting to believe in it’s system.
MetroDeals is the groupon of Philippine. MetroDeal is the biggest online deals shopping mall that is not only established in the Philippines but also in Indonesia and will be launched in Thailand and Vietnam soon. The layout and format of MetroDeals looks exactly the same as Groupon. Metro originally only accepted credit card for it’s checkout, but as of today it will be starting to accept Bitcoins.
MetroDeals is known for creating insane deals that make it look like the seller is going for a clearance. Nevertheless, the strategy works well and attracts a lot of buyers.
CashCashPinoy is another daily deal site based in the Philippine. The web interface itself looks like a magazine page with a lot of coupons. It doesn’t look so much like a Groupon clone. The company claims to have more than 1.5 million members that are active users on the site.
The company was the first online flash sales website in the Philippines. The company was founded by Frederic Levy, a French entrepreneur, and co-founded by 2 other French and 1 Filipino entrepreneurs. CashCashPinoy was self-funded together with funding from angel investors in UK, US, Israel and Germany. The site itself is a private membership site, much similar to Gilt and other US based flash deal startups. On average, the site puts up 10 new deals everyday and most of them do reach a high amount of sales.
The startup predicts that their sales will increase with the new acceptance of bitcoins. Cashcashpinoy employs over 110 people in the philippines ranging from developers to photographers.