The Bank of the Philippine Islands (BPI) recently rolled out its Cashless Negosyo webinar series in North Luzon, which aims to boost the ability of small entrepreneurs to adapt to the new reality as consumers turn to e-commerce due to quarantine constraints amid the COVID-19 pandemic.
“BPI
provides cashless payment option to small business owner or sole proprietor
clients of the bank and help minimize if not eliminate waiting lines in their
stores because their customers can just scan the QR code simultaneously to pay for their purchases. That is why for
small business owners who will be generating their own QR code, it is important
to make QR standees so that
customers can check out faster,” said BPI Division Head
for North Luzon, Marwin Galvez.
BPI reiterated that cashless payments made via QR code
is not only faster and safer, but is
also more accurate than using electronic fund transfer as payment option
because it’s less prone to typing erroneous details compared to doing fund
transfer by inputting the 10-digit account number. It eliminates the risk of transferring money to a wrong account.
BPI noted that from 70 percent in March this year, the
number of transactions done digitally have now increased to 90 percent in November. More than half
of its 8 million clients are also now registered to the bank’s digital
platforms for their everyday banking needs.
Small business owners may promote their cashless
payment option to encourage and reassure customers that it is still safe to
shop through this contact less payment method.
“We
encourage small business owners to make use of the QR code system as a way of
protecting them and their clients as the market shifts to more online
transactions and digital living in the new normal,”
Mr. Galvez added.
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