Manila, Philippines – As contactless payments have emerged as an essential solution for businesses during the pandemic, online payment platform for SMEs in the Philippines, JazzyPay, has partnered with one of the leading commercial banks in the country, UnionBank, enabling its onboarded businesses to reach a wider audience and thus to attract new users.
JazzyPay enables various businesses to accept cashless payments across credit and debit cards, e-wallets, and online baking, as well as over-the-counter cash deposits. The platform now has a total of 27 payment methods including UnionBank.
Through the partnership, JazzyPay customers can settle their payments using their UnionBank accounts, while UnionBank Online users can now pay for local and essential businesses registered with JazzyPay.
Aside from being a unified online payment platform, JazzyPay will also enable businesses to send online invoices to their customers without having to use third-party invoicing services.
According to Edwin Bautista, the president and chief executive officer of UnionBank, 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.
Meanwhile, Kathleen Acosta, the co-founder and chief operating officer of JazzyPay, believes that UnionBank’s constant efforts in providing excellent financial services especially to SMEs have been 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 Acosta.