STORE SOLUTION platform Growsari is targeting 200,000 member sari-sari stores to begin accepting universal Philippine quick response, or QR PH, payments by next year as part of efforts to enable store owners to accept digital payments.
In a statement on Monday, Growsari said that it partnered with Instapay-approved institutions to introduce QR PH codes to bridge the gap between financial institutions and sari-sari or small family-owned stores.
“Growsari has begun to install QR PH codes across their network this October 2022, and is targeting to have 200,000 sari-sari stores to start accepting QR PH payments by 2023,” it said.
According to Growsari, the QR PH allows sari-sari stores to become competitive with large retail stores, while customers are benefitting from faster, easier, and cheaper payment options.
“All digital payments received through the QR code are credited on their Growsari merchant wallet that can be used seamlessly for all other Growsari transactions such as ordering fast-moving consumer good and e-service products like load, bills or wallet top-ups without the restrictive limits of personal wallets,” it said.
“Sukis just need to look for the Sariclub QR code displayed in the front of the neighborhood store, and scan to pay using their preferred bank or wallet,” it added.
Sandeep Bhalla, Growsari financial services head, said that the launch of QR PH is part of the platform’s efforts to help micro, small, and medium enterprises (MSMEs) to modernize their operations.
“We are entering into a new normal after the pandemic. And Growsari is building a digital ecosystem which is inclusive and easy to understand for the millions of mom-and-pop stores in the country. We are confident the initiative will facilitate better store management and an efficient digital payments gateway to the local communities,” he said.
Aside from providing inventory and capital loans, Growsari also has a platform that generates data into the operations of sari-sari stores. It also has multiple microservices such as load, bills payment, e-commerce, and other e-services. — Revin Mikhael D. Ochave