Growsari, the leading B2B ordering and store solution platform in the Philippines, has adopted the use of QR or quick response technology to cascade the benefits of digitalization down to the grassroots level.
The online platform sees this as its initial push towards cashless retail, as more and more retailers from the grassroots level embark on their unique journey to digitalization.
“We are pleased to show support for BSP’s initiative for a cashless society through QRPH to our market. This also strengthens Growsari’s commitment to assist MSMEs to adapt to the age of digitalization and to modernize their store operations,” said Growsari head of financial services Sandeep Bhalla.
Growsari said small brick-and-mortar stores had been underrepresented and underbanked, mainly because they were technologically-marginalized and logistically difficult to organize as a group.
With the pandemic accelerating the shift to digital, store owners are feeling the pressure to adjust to the new landscape.
Growsari continues to bridge the gap between financial institutions and sari-sari stores by rolling out Universal PH QR codes, in partnership with Instapay-approved member institutions.
As the use of the QR system becomes more popular, it also becomes an integral component of the small businesses leap to financial inclusion.
Micro enterprises get their shot to become part of the digital economy and revel on the smooth transition to the future of retail.
The QR technology involves a safe and secure payment method and benefits customers through faster, easier and cheaper payment options with greater convenience.
Through Growsari, sari-sari stores can accept digital payments from customers, making them more competitive and leveling the playing field between small and large retail stores.
Customers 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. Othel V. Campos
Payments are trackable real time on the store’s wallet in the Growsari app, including transaction receipts and records. By driving digital payments, Growsari is educating and enabling store owners to track their daily earnings and minimize errors on balancing their manual cash ledgers.
“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,” Bhalla said.
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 FMCG and E-service products like load, bills or wallet top-ups without the restrictive limits of personal wallets.
Field agents do the regular rounds to assist stores in adapting and using digital wallets in the app and to facilitate instant top ups for store owners who don’t have any bank accounts.
Growsari started installing QR PH codes across their network in October and aims to onboard 200,000 sari-sari stores into QR PH system by 2023.