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. Small physical retail sectors have always been underrepresented and underbanked, through Growsari, sari-sari stores can now accept digital payments from their customers (sukis), making them more competitive and leveling the playing field between small and large retail stores.
Quick Response, or QR technology, involves a safe and secure payment method and benefits customers through faster, easier and cheaper payment options with greater convenience. 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. Each transaction paid by suki to the store will be instantly available on the store's wallet in the Growsari app, and all transaction receipts and records are easily accessible. As the leading B2B ordering and store solution platform in the Philippines, Growsari is educating and enabling store owners to track their daily earnings and minimize errors on balancing their manual cash ledgers.
Growsari’s Head of Financial Services, Sandeep Bhalla, shares his excitement on the launch of QR digital payments to the grassroots level. “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.”
All digital payments received through the QR code are credited on their Growsari merchant wallet. Simultaneously, these can be used 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 will frequently visit stores to help stores in adapting and using Digital wallets in app and likewise, facilitate instant top ups for store owners who don't have any bank accounts.
This October 2022, Growsari has already started installing QR PH codes across their network. By 2023, Growsari is targeting to have 200,000 sari-sari stores to start accepting QR PH payments.