JazzyPay and UnionBank Rolls Out Cashless Payment Solutions for SMEsby Fintech News Philippines March 17, 2021
Online payment gateway JazzyPay has teamed up with Union Bank of the Philippines to provide cashless payment solutions for SMEs and local businesses.
With the partnership, JazzyPay customers can now settle payments using their UnionBank accounts. In turn, UnionBank online users can now pay for local and essential businesses registered with JazzyPay.
JazzyPay, an online payment gateway system that allows businesses of all types and sizes to accept cashless payments across credit and debit cards, e-wallets, online baking, and over-the-counter cash deposits.
Currently, onboarded merchants are able to accept payments through 27 payment methods, now including UnionBank.
Aside from being a unified online payment platform, JazzyPay also enables businesses to send online invoices to their customers without having to use third-party invoicing services.
According to UnionBank President and Chief Executive Officer Edwin Bautista, transactions done through the bank’s mobile app rose from 40,000 in January 2020 to nearly 1 million by December 2020.
As a part of its “Tech up, Pilipinas” advocacy, UnionBank also recently launched its mobile banking app for SMEs, becoming the first SME-focused banking app in the Philippines, allowing for greater growth for smaller businesses in the country.
“UnionBank’s constant efforts in providing excellent financial services especially to SMEs is evident through their recent projects.
As a payment platform that aims to empower more local businesses in the Philippines, JazzyPay is honored to be able to partner with an innovative company that shares the same vision of growth for SMEs and underserved businesses,”
said Kathleen Acosta, Co-founder and Chief Operating Officer of JazzyPay.
“Led by our President and CEO, we at UnionBank remain steadfast in our commitment to ‘Tech Up, Pilipinas’ and enable inclusive prosperity to fuel sustainable growth.
This partnership with JazzyPay further boosts our goal of teching up even more of our underbanked and unbanked countrymen,”
said Dino N. Velasco IV, Corporate Product Management Head of UnionBank.
Featured image credit: Edited from Unsplash