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SM Supermalls hosts webinar on Cashless Payments for its MSME Partners
Posted by SM SUPERMALLS on December 12, 2022
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Posted by SM SUPERMALLS on December 12, 2022
SM Supermalls recently hosted an exclusive webinar to its micro, small, and medium-scale enterprise (MSME) partners and business owners, highlighting the various benefits of cashless payments and the suitable cashless payment solutions for all types of businesses.
This online event is part of the “Cashless Malling at SM” campaign of SM Supermalls, which aims to support the whole-of-nation approach to financial inclusion of the Bangko Sentral ng Pilipinas (BSP).
“As we all know, the world of retail is increasingly being shaped by technology. And as a company that embraces innovation in everything we do, we have fully welcomed and revolutionized the shopping experience. And going cashless is one of these innovations,” said Steven Tan, President of SM Supermalls, in his welcome speech.
During the webinar, Cesar Villanueva of the BSP discussed how QR Ph can help businesses accept more types of payments apart from the usual cash and debit and credit cards. Villanueva explained that QR Ph was initially rolled out in November 2019 for person-to-person (P2P) payment, but as of last year, QR Ph person-to-merchant (P2M) payment has been fully implemented to enable cashless payments between customers and merchants.
“Through QR Ph, the QR codes from participating financial service providers will now be interoperable, meaning they could be used to transact between different providers using the QR Ph standard. It allows quick, low-cost, and safe methods to pay, transfer, and receive funds from other banks and e-money accounts,” Villanueva said in his keynote speech.
Maya Business started the presentations with a showcase of their in-store solutions such as Maya QR and Maya Terminal that can help provide convenience to both merchants and customers of SM Supermalls.
“Partnering with Maya Business is already considered partnering with a payment gateway provider and at the same time, an acquiring service provider. As a provider for brick-and-mortar stores, we have in-store solutions like card terminals called the Maya Terminal and the QR payment. We also provide a mobile phone to ensure that the frontliners can check if the transaction is successful,” shared Dennysse Prudencio of Maya Business.
Secondly, BillEase presented the benefits of Buy Now Pay Later (BNPL) or installment payments from the perspective of merchants, which can help “acquire lifetime customers and turn them into high-value customer sales,” according to Khristine Subijano of BillEase.
“With BillEase, customers can have the freedom to choose their payments and can tailor them to their needs. For our merchants, BillEase can help boost conversion as you can turn your store visitors into buyers when you offer them lighter payment options,” Subijano explained.
And finally, BDO Pay shared a convenient way to do banking and shopping with just one account through the BDO Pay app. BDO Pay presented how merchants of SM Supermalls can benefit from accepting BDO Pay, which is operated under the biggest bank in the country.
“Merchants are taking advantage of the cashless benefits of BDO Pay with our large customer base and wide distribution network. Both merchants and customers benefit from easy cashless payments via QR. We offer QR both dynamic and static QR codes to our merchant partners to give you more flexibility in accepting cashless payments,” said Ron Marcelo of BDO Pay.
“Going cashless is easy, safe, and faster. By enabling cashless payments, we can support the Bangko Sentral ng Pilipinas’ thrust in creating an efficient and secure digital payment system in this country. We hope that you will join us on this innovation especially now that we are in the middle of the holiday shopping season,” Tan concluded in his speech.
ABOUT CASHLESS MALLING AT SM CAMPAIGN
In proud support to the whole-of-nation approach to financial inclusion of the Bangko Sentral ng Pilipinas, SM Supermalls launched the “Cashless Malling at SM” campaign, which primarily aims to promote the acceptance and usage of cashless payments to both MSME Partners and shoppers of SM Supermalls nationwide. Campaign was launched on October 18, 2022 (Tuesday) through a ceremonial handshake ceremony in SM Mall of Asia. As of this writing, 8 out of 10 stores in SM Supermalls are already accepting cashless payments, giving its shoppers the option to pay faster for their purchases by simply scanning the QR Code of their preferred e-wallet or bank app.
