The competition looks stiff, but I'm rooting for them. Terence Pua, Insync's co-founder, is a seasoned internet entrepreneur -- one of the guys behind Friendster (Philippines) back in the day, before getting killed by Facebook.
I had the opportunity to join Insync's team back when I was living in Manila; but I came across Payguard ( http://www.younoodle.com/startups/payguard ) and decided to try to revolutionize online payments instead.