Growsari backs basic stores’ digital shift
Through the Growsari app, 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
Daily TribuneThrough the Growsari app, 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
Growsari user and sari-sari store owner, Yvonne Bautista. | Photograph courtesy of Growsari
In an effort to get sari-sari store owners — considered to be the largest channel of fast-moving consumer goods in the country — embrace digitization, Growsari, the leading business-to-business ordering and store solution platform in the Philippines, is pioneering financial inclusion to reach micro, small and medium enterprises, and Filipino consumers via its app.
Small-sized physical retail stores have always been underrepresented and underbanked, mainly because they are technologically marginalized and logistically difficult to organize as a group.
And with the pandemic accelerating the shift to digital, owners of these stores are beginning to feel the pressure of adjusting to new ways of conducting business.
Growsari said it 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.
QR technology
Quick Response, or QR technology, involves a safe and secure payment method benefiting customers through faster, easier and cheaper payment options with greater convenience.
Through the Growsari application, 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.
Sukis just need to look for the Sariclub QR code displayed in the front of a neighborhood store and scan it to pay using their preferred bank or e-wallet.
"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," Growsari's Head of Financial Services, Sandeep Bhalla, said.
Each transaction paid by a suki to a sari-sari store will be instantly available on the store's wallet in the Growsari app, and all transaction receipts and records are easily accessible.
By resorting to digital payments, Growsari is educating and enabling store owners to track their daily earnings and minimize errors in balancing their manual cash ledgers.
Digital ecosystem
"We are entering into a new normal after the pandemic. And Growsari is building a digital ecosystem that is inclusive and easy to understand for the millions of mom-and-pop stores in the country. We are confident that the initiative will facilitate better store management and an efficient digital payments gateway to the local communities," Bhalla explains.
All digital payments received through the QR code are credited to their Growsari merchant wallet that can be used seamlessly for all other Growsari transactions such as ordering FMCG (fast-moving consumer goods) and E-service products like cellular mobile phone load, bills, or wallet top-ups without the restrictive limits of personal wallets.
