RCBC links with GrowSari for MSE reach

RIZAL Commercial Banking Corp. (RCBC) announced its partnership with store ditigal solution platform GrowSari to enable micro and small enterprises (MSEs) to accept digital payments from their customers. The partnership is part of RCBC’s digital transformation and financial inclusion thrust for MSEs.

Customers can now pay GrowSari sarisari (variety) store merchants with their RCBC Digital and other QRPh payment-tomerchant (P2M) registered online banking or e-wallet apps. GrowSari’s sub-merchants can accept digital payments with the help of QRPh codes.

Payments will register real-time to the GrowSari merchant’s closed-loop e-wallet facility. The sellers can also document transactions with the help of digital receipts and records. 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.

RCBC’s participation is vital to GrowsSari’s growth as a digital solutions provider which allowed the onboarding of over 20,000 QRph-enabled sari-sari store merchants. It aims to expand its number to at least 200,000 starting next year

“We are pleased to show support for BSP’s initiative for a cash-lite 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.