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The recent launching of the National QR Code Standard (QR Ph) has been a huge win for businesses and consumers alike. Having a universal QR code payment standard removes much of the friction and the risks associated with digital payments, and it will also help in the country’s ongoing efforts at financial digitalization.
Since QR Ph codes are universally functional across various financial institutions under the supervision of Bangko Sentral ng Pilipinas, businesses that use QR Ph get to enjoy more efficiency and reduced risks in financial payments, as errors from mistyping details or matching codes to institutions are eliminated. And because these codes can also be generated through any locally relevant ewallet, QR code transfers are likely to become even more popular among consumers.
You might think that the standardization of payment QR codes means that choosing the right fintech or bank as a financial partner doesn’t matter anymore. However, not all QR providers are made equal. When it comes to QR code payment, Philippines startups and small-to-medium enterprises tend to gravitate toward Maya Business products because of their breadth, reliability, and cohesiveness as part of one financial ecosystem. Let’s look at why you, too, might want to choose Maya QR for your customers’ QR payment needs:
1) A Selection of Online and Offline QR Solutions
Many QR code providers only provide one or two point-of-sale (POS) solutions that can facilitate QR Ph payments. In comparison, Maya offers a complete selection of solutions options through Maya Business.
Online, you can take QR Ph payments on your website or app through Maya Checkout, Invoice Payments, and Payment Links. If you operate a physical store, you can take payments through a static QR Ph code on a standee as well as through dynamically generated codes via the Maya Terminal or Maya Terminal Lite device.
2) Monitor All QR Transactions from One Dashboard
Even with its wide selection of solutions, Maya Business lets you monitor every QR code payment over just one dashboard. The Maya Business Manager dashboard gives you full visibility of all your Maya payment channels, allowing you to craft better payment experiences and develop a true omnichannel presence.
3) Share Your Maya QR Right Away
Once you create a Maya Business Manager account, you can immediately set up QR payments using the static QR that comes with your free Maya QR kit. Post your code on your website, on social media, or display it in your store to receive secure payments wherever your customers are.
4) Access to Technical and Customer Support
Not sure how to use QR codes for your business? Creating your Maya Business Manager account gives you access to comprehensive technical and customer support for all Maya products, including Maya QR. You can reach out to your Maya Relationship Manager or send message to firstname.lastname@example.org for questions related to Maya QR and the QR Ph standard.
5) Low Transaction Rates
The standard rack rate for Maya QR is just 1.25%, making it one of the most affordable digital payments in the Philippine market. By choosing Maya, you’ll save on every QR Ph transaction.
How To Start Accepting QR Code Payments with Maya Business
Here’s how you can start integrating Maya QR into your e-commerce and brick-and-mortar sales channels:
QR Payments Are Even Better with Maya QR
With Maya Business, you’re getting much more than the bare minimum for QR Ph payments. You’re also getting a fully fledged technology ecosystem that offers multiple ways to accept digital payments on both virtual and physical storefronts. If you’re truly interested in reaching digitally savvy Philippine customers, Maya QR is a smart choice as a financial services provider. Create a Maya Business Manager account today to add Maya QR to your online and offline checkout experience.
Creating a Maya Business Manager account also entitles you to incredible offers like Maya 1-2-3 Grow. While the standard QR Ph rack rate is an already low 1.25%, Maya 1-2-3 Grow offers an amazing 1% MDR (merchant discount rate) on all QR Ph transactions for 3 months after signing up. At 1% MDR, your business can save PHP 14,600 for every PHP 1 million in QR Ph sales. Moreover, you can earn 2.5% p.a. interest and enjoy free fund transfers via InstaPay and PisoNet if you set Maya Business Deposit as your settlement account. Even better, The Maya 1-2-3 Grow bundle can open up a maximum of PHP 2 million in additional funding for your business through a Maya Flexi Loan offer, which you will receive within 3 months of signing. Create a Maya Business Manager account today to join Maya 1-2-3 Grow and integrate Maya QR into all your checkout processes.
Maya is powered by the country's only end-to-end digital payments company Maya Philippines, Inc. and Maya Bank, Inc. for digital banking services. Maya Philippines, Inc. and Maya Bank, Inc. are regulated by the Bangko Sentral ng Pilipinas.