VeritasPay

What VeritasPay does

VeritasPay Philippines Inc. (VPI) is a payment solutions provider incorporated in July 2016 and headquartered in Pasig City, Metro Manila, operating as a subsidiary of The Primeline Group. The company delivers face-to-face, online, and unattended payment acceptance products to Filipino merchants, with a primary focus on small and medium enterprises (SMEs) that lack the banking prerequisites demanded by incumbent acquirers — explicitly waiving CASA, ADB, monthly quota, and setup-fee requirements. Its product portfolio comprises six merchant-facing solutions: OnePOS (a multi-payment POS terminal accepting cards, QR codes, and major e-wallets via Nexgo N3 and PAX A930 hardware), Mobile (a smartphone-based QR payment app), Checkout (Shopify/WooCommerce-integrated online checkout), EasyLink (no-website payment link generator), ExpressPOS (unattended self-service terminal using PAX IM30), and Over-the-Counter (cash payment through partner bank and non-bank branches). All solutions are unified through VeritasPay Hub, a free cloud-based management dashboard providing real-time transaction monitoring, settlement management, promo code creation, and customizable reporting.

The company monetizes primarily through Merchant Discount Rate (MDR) transaction fees — typically 1.50% to 3.50% depending on payment method — supplemented by POS terminal hardware sales and 24-month leasing arrangements. VeritasPay sells directly through a field sales team in the NCR and GMA regions and indirectly via bank partnerships (Security Bank), technology integrators (JIMAC, Narratech), payment gateway integrations (Dragonpay), and e-wallet referral partners (TrueMoney). The company holds PCI-DSS, GDPR, ISO/IEC 27002, and Anti-Money Laundering Act (RA 9160) compliance, and is registered with the National Privacy Commission and regulated by Bangko Sentral ng Pilipinas (BSP).

Total processed transaction volume grew from ₱1.18B in 2023 to ₱1.67B in 2024 (+41.4% YoY) and ₱2.67B in 2025 (+59.9% YoY), with face-to-face merchant count up +116.5% and online payment solutions merchant count up +202.7% over the same three-year period. The company is geographically restricted to the Philippines, serves no overseas businesses, and has disclosed no external venture funding rounds.

Name

VeritasPay

Legal name

VeritasPay Philippines Inc.

Website

https://veritaspay.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

VeritasPay Philippines Inc. is a Philippine payment solutions provider offering face-to-face, online, and unattended payment acceptance products to SMEs and enterprises, monetizing primarily through MDR transaction fees and terminal leasing across a multi-channel distribution network of direct sales, bank, and technology-integration partnerships.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industries

Card-Present Acquirers (Retail & POS Focus) (FSAMABAC), QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH), Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)

Keywords

• Payment processing services
• POS terminal solutions
• Digital payment acceptance
• Merchant payment gateway
• Card and QR payments

Headquarters

HQ city

Aa

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Transaction Fees (MDR): Merchant Discount Rate charged as percentage of each transaction. Rates vary by payment method: 3.00% for cards, 2.25% for GCash with GCredits/Gives, 1.50% for QRPH/WeChat Pay/Alipay, 3.50% for Checkout. Additional per-transaction fees apply for some solutions.
2. Terminal Hardware Sales: POS terminals (Nexgo N3, PAX A930, PAX IM30) available for outright purchase or 24-month leasing. Full payment required before delivery for outright purchases.
3. Terminal Leasing: 24-month leasing contracts for payment terminals with initial payment of 2 months advance plus delivery fee. Early termination within first year incurs fee equivalent to remaining monthly lease.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

VeritasPay Philippines Inc. develops and operates digital payment acceptance solutions for merchants across the Philippines. Its offering spans in-store POS terminals (OnePOS, ExpressPOS), mobile QR payments (Mobile), and online channels (Checkout, EasyLink, Over-the-Counter), all unified through the VeritasPay Hub cloud-based management dashboard. The company enables merchants to accept cards (Visa, Mastercard, American Express, JCB, UnionPay, BancNet), e-wallets (GCash, WeChat Pay, Alipay), and QRPH payments with direct settlement to any local bank account.

Product overview

VeritasPay is a Philippine-based payment solutions provider offering a comprehensive portfolio of six distinct payment products. The in-store payment solutions include OnePOS (multifaceted POS terminal accepting cards and QR codes) and Mobile (QR code generation app). Online payment solutions include Checkout (website-integrated checkout page), EasyLink (standalone payment link generator), and Over-the-Counter (cash payment via partner banks and non-bank channels). ExpressPOS provides self-service terminal solutions for unattended kiosks. All products are unified through VeritasPay Hub, a free cloud-based back-office dashboard for real-time transaction monitoring, settlement management, and sales reporting. The company serves SMEs, large enterprises, and financial institutions, enabling secure digital payment acceptance across face-to-face, online, and unattended channels.

Differentiator

Problem solved

Functional benefit

Brands

• OnePOS: A multifaceted POS device that accepts credit/debit card and e-wallet payments under one terminal. Available with Nexgo N3 and PAX A930 devices.
• VeritasPay Mobile
• VeritasPay Checkout
• VeritasPay EasyLink
• VeritasPay ExpressPOS
• VeritasPay OTC (Over-the-Counter)
• VeritasPay Hub

Products and services

• OnePOS A multifaceted in-store POS terminal that accepts credit and debit card payments (insert, tap, swipe) plus e-wallet and QR code payments (GCash, WeChat Pay, Alipay, QRPH) under one device. Powered by Nexgo N3 and PAX A930 terminals and designed for retail, food & beverage, and service merchants in the Philippines.
• Mobile (MobilePOS) A mobile application that turns a smartphone into a payment terminal by generating scannable QR codes for customers. Designed for businesses without physical stores and delivery services accepting GCash, WeChat Pay, Alipay, and QRPH.
• Checkout An integrated checkout page for e-commerce websites that accepts credit/debit cards, e-wallets, online banking, and OTC payments. Integrates with Shopify and WooCommerce platforms and is intended for online merchants selling through their own websites.
• EasyLink An online payment link generator that creates a standalone payment webpage accepting card and e-wallet payments. Designed for merchants without a website; links are shareable via SMS, Email, Messenger, Viber, Telegram, and WhatsApp.
• ExpressPOS A self-service payment terminal solution integrated into vending machines or unattended kiosks that accepts credit, debit, and loyalty cards plus e-wallets. Powered by the PAX IM30 terminal designed for indoor and outdoor unattended use.
• Over-the-Counter (OTC) An over-the-counter cash payment solution that lets customers pay merchants in cash at partner bank branches or authorized payment centers (Asia United Bank, Super Service Center, SM Bills Pay, M Lhuillier, Villarica, Robinsons Department Store, CVM Pawnshop, Tambunting, Palawan Pawnshop, Cebuana Lhuillier). Designed for merchants reaching uncarded customers who prefer cash or manual payment methods.
• VeritasPay Hub A free cloud-based merchant management dashboard included with every VeritasPay payment solution, providing real-time transaction monitoring, settlement management, promo code and voucher creation, customizable sales reports, and transaction history management through the VeritasPay Hub platform.

Quantifiable outcome

• 59.9% YoY growth in transaction volume (2025)
• +3 more outcomes

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

Six partnerships are on record, tiered strategic and core.

• Narratech SolutionsstrategicTechnology or Integration · 7 April 2026Partnership with software development company known for building payment and transaction systems. Expands VPI's network and reinforces Narratech's back-end development capabilities in POS systems. Extends VeritasPay's reach to more businesses, particularly SMEs.
• Security BankcoreStrategic or Co-development Partner · 9 March 2026Partnership where Security Bank offers VeritasPay payment terminals to its SME clients and broader customer base. Enables businesses to conveniently accept card and digital payments, helping them meet demand for cashless transactions with secure and efficient payment options.
• Philippine SME Business Expo (PhilSME)strategicGTM or Marketing Partner · 29 October 2025Partnership integrating VeritasPay EasyLink and Checkout into PhilSME's website for faster, safer transactions for entrepreneurs and event participants. VeritasPay actively participates in PhilSME's business expos and events to connect with SME community and showcase payment solutions.
• JIMAC IncorporatedcoreTechnology or Integration · 30 September 2025Strategic partnership where JIMAC integrates VeritasPay's advanced payment software into its computerized POS offerings. This provides seamless digital payment capabilities for JIMAC's wide merchant network and allows VeritasPay to expand reach to 5,000+ businesses nationwide through JIMAC's established presence.
• Dragonpay CorporationcoreTechnology or Integration · 3 September 2025Partnership integrating Dragonpay's payment channels including online banking, OTC banking/ATM, and non-bank options into VeritasPay's payment gateway ecosystem. Enables VPI merchants to access diverse payment methods nationwide through Dragonpay's 90+ payment channel partners with 35,000 branches.
• TrueMoney PhilippinesstrategicGTM or Marketing Partner · 28 July 2025Strategic partnership enabling TrueMoney to refer clients and merchants to VeritasPay, expanding access to secure digital payment solutions nationwide. Reflects shared commitment to supporting local businesses and increasing financial accessibility in urban and rural communities.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Stripe: Global online payment gateway and developer platform with hosted checkout, link payments, and broad payment method support—competes with VeritasPay Checkout for enterprise and mid-market ecommerce merchants in the Philippines.
• GCash (Globe Fintech Innovations): Philippines' largest e-wallet with extensive QR merchant network and acquiring; competes with VeritasPay's QR/e-wallet acceptance and provides indirect pressure on take-rates through its scale.
• Square (Block): Global POS and merchant services platform combining hardware terminals, software, and payments for SMBs—comparable to VeritasPay OnePOS + Hub bundle as a unified in-store payment and management solution for small merchants.
• Ingenico (Worldline): Global POS terminal manufacturer and payment services provider; comparable on the hardware-acquiring stack that VeritasPay delivers via Nexgo N3, PAX A930, and PAX IM30 devices.

Direct peers

• SumUp: SME-focused payment acceptance provider offering card readers and integrated software globally with a focus on micro and small merchants—comparable target segment to VeritasPay's no-CASA/no-quota SME positioning.
• PayMongo: Philippine online payment gateway enabling SMEs and online merchants to accept cards, e-wallets, and online banking through checkout, links, and APIs—directly competes with VeritasPay Checkout and EasyLink for the same SME and ecommerce merchant base.
• Dragonpay Corporation: Philippine payment gateway aggregating online banking, ATM, OTC bank, and non-bank cash channels (90+ partners, 35,000 branches) for merchants; both a technology partner and competitor for online payment acceptance in the Philippines.
• Xendit: Southeast Asia-focused payment gateway covering Indonesia and the Philippines, accepting cards, e-wallets, QR, OTC, and virtual accounts for SMEs and enterprises—comparable product breadth to VeritasPay Checkout and EasyLink but at regional scale.
• Maya (formerly PayMaya): Philippine digital bank and e-wallet operating merchant acquiring, POS, QR, and online payment acceptance—head-to-head with VeritasPay across both consumer payment apps and merchant acceptance infrastructure.

Regional players

• 2C2P: Regional payment processor (now part of Ant Group) operating across SEA including the Philippines with merchant acquiring, gateway, and alternative payment rails—comparable to VeritasPay's multi-rail acceptance strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VeritasPay
• LinkedInlinkedin.com/company/VeritasPayPH
• Instagraminstagram.com/veritaspay
• Xx.com/VeritasPay

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VeritasPay