MSMEs embrace digital payment technologies

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Photo from Manila Bulletin

By Manila Bulletin

DIGITAL SARI-SARI STORES. More sari-sari stores are now utilizing contactless payments like PayMaya QR to offer a safer and more convenient payment option to their customers. These sari-sari stores are also able to provide add money, cash out, bills payments, bank transfers, and telco load selling services within their community.

For micro, small, and medium-sized enterprises (MSMEs) like sari-sari stores and online businesses, digital technologies have helped them survive and continue their operations under the Better Normal. Powering this growth is PayMaya, the country’s leading financial technology company, which equips these MSMEs with digital payment acceptance solutions that are at par with the platforms utilized by big corporations.

Today, MSMEs can accept QR and any card payments in their physical stores and websites, social media channels, and even via messaging apps like Viber and Facebook Messenger, with the help of PayMaya’s solutions.

“As consumers go digital, so do businesses. With the steady reopening of the economy, we provide our MSMEs with the same best-in-class digital payment capabilities as larger companies,” said Shailesh Baidwan, President of PayMaya. “With PayMaya’s solutions, sari-sari stores can now accept QR payments, just like the biggest supermarkets in the country. Small online stores can accept card and e-wallet payments, in the same way that the biggest e-commerce websites do,” he added.

PayMaya has already seen an upward trend of MSMEs embracing digital payment acceptance solutions. The number of MSMEs empowered by PayMaya with its digital payment solutions in March 2021 grew by more than 3,000% compared to the same period last year.

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