AN OPPORTUNITY for sari-sari store owners and other micro business players to augment their income is to offer various digital services.
By investing P45,000 for a Posible business device, sari-sari store owners can also make their stores into a one-stop digital payment center. The package also includes marketing initiatives and technical assistance.
This SIM-enabled device can process various transactions like bills payment, prepaid loading, money remittance, bus ticketing services, health insurance and government services payments.
Over 200 billers have partnered with Posible since it rolled out in 2016. To date, over 3,000 agents have signed up nationwide, mostly concentrated in Luzon.
Posible is a Filipino digital transactions provider. The company said it relies on more than 20 years’ experience in the information technology (IT), telecommunications and banking industries.
On Tuesday, Feb. 19, the company officially launched Posible in Cebu as their entry point for Visayas and Mindanao markets. Cebu currently has 50 Posible agents.
“Our vision with Posible is to bring innovation to communities of business owners that will help boost their business with the efficiencies brought by financial technology (fintech). We see this as a great opportunity to help entrepreneurs from the neighborhood community kanto-preneurs, retailers and kiosk operators,” said Posible chief executive officer JG Puzon.
He added they want to make digital services accessible to the community, especially now that thriving urban areas like Cebu are experiencing traffic congestion. They also want to help sari-sari store owners and other micro business owners earn extra income.
Partner sari-sari owners can earn a monthly average income of P4,000 to P5,000 on top of their retailing activities.
“What’s also good about Posible is that it helps drive sales traffic into your stores,” said Puzon, adding that any transactions done with Posible are posted in real time. Official receipts will also be provided to customers.
Among the government services that enrolled in their platform are Pagibig Fund, Department of Foreign Affairs, National Statistics Office, Social Security System and National Bureau of Investigation, among others.
Another feature of Posible is the ShopBox that allows traditional retailers to convert their business into an online shopping hub for the community.
As they roll out Posible in Cebu, the company targets more than 100 agents in the next three months and 30 to 40 more agents monthly.
According to the Global Microscope 2018, the Philippines has the best environment for financial inclusion in Asia.
This is evident in the flourishing fintech industry in the country, with companies’ innovative efforts for financial inclusion.
To date, Posible has processed over P5 billion worth of transactions. (KOC)