SELLERS or merchants using Asia United Bank (AUB) PayMate need not invest in costly point-of-sale (POS) or card terminals to accept Mastercard and Visa payments from their customers.
One of the fastest growing and publicly listed universal banks in the Philippines, AUB recently launched another industry first: the AUB PayMate Unified Card QR link that enables its over 30,000 AUB PayMate merchants to accept Mastercard and Visa payments using only one QR code and tap the underserved micro and small enterprises.
The bank unveiled the Unified Card QR Link as the latest feature of AUB PayMate, its all-in-one digital payment acceptance product that enables all types of merchants to accept digital payments — whether local or foreign e-wallets, bank payments and cards — from their customers.
Mags Surtida, AUB senior vice president and Cards and Acquiring Business Group head, said the high cost of POS terminals has been deterring merchants from accepting these card payments. The globally accepted cards also require a high transaction volume, which most micro, small and medium enterprises (MSMEs) do not have.
“With the Unified Card QR Link, merchants, big or small, need not worry if they can meet the required volume of transactions as we made the card acceptance at no additional cost to them,” she added.
With AUB’s latest innovation, customers can simply use their smartphone camera with internet connection to scan the Card QR code displayed on the AUB PayMate merchants’ stores. They will be directed to a secure AUB PayMate checkout site and receive an OTP to complete and secure the transaction. Merchants can then view the payment status in real time using the same PayMate app they use when processing e-wallet QR transactions.