The National QR Code Standard, also known as QR Ph, is now in full effect. QR Ph is part of an ongoing effort to modernize payments in the Philippines, as part of Republic Act 11127 or the National Payment Systems Act. Through the QR Ph standard, financial institutions and payment service providers supervised by the Bangko Sentral ng Pilipinas (BSP) will no longer offer proprietary payment QR codes that can only be processed within their respective apps and POS (point of sale) systems. Instead, participating institutions will provide interoperable QR payment codes that can be processed through any other participant’s QR code, POS system, or app.
Since the QR Ph standard’s initial rollout, it has also managed to gain massive buy-in from the general Philippine public. The demand for ewallet QR code payment systems is also likely to increase as digital wallets gain more popularity as an everyday payment method. With QR payments set to increase for the next few years, small- and medium-sized enterprises (SMEs) and startups that want to have a share of the Philippine market need to invest in a QR Ph-compliant POS system that can also handle other emerging digital payments.
For QR code payment, Philippines’ startups and SMEs are now choosing Maya as their QR Ph processor because of Maya Business’s diverse offerings and omnichannel potential. With POS tools like the Maya Terminal and Maya Terminal Lite, you can seamlessly facilitate QR Ph payments at your physical store. You can also handle QR Ph payments over your e-commerce store through Maya Checkout, Invoice Payments, and Payment Links. Here’s how you can start accepting different QR Ph payments over Maya Business:
Maya QR POS Solutions for Physical Storefronts
The Maya Terminal and Terminal Lite devices can generate dynamic QR Ph codes that customers could simply scan to pay, without the need to input prices or account details. The Maya Terminal is a fully featured POS solution for brick-and-mortar stores that not only accepts QR Ph payments but also digital wallets, InstaPay bank transfers, and debit and credit cards. The Maya Terminal Lite is a similarly featured Android-based ultraportable POS device that is optimized for the demands of delivery services, freelance professionals, food trucks, and other mobile businesses.
To supplement your Maya Terminal or Terminal Lite, you can place Maya QR standees with a static Maya QR code within your store’s checkout area. Note that with static QR codes, customers will have to input the amount they need to transfer funds using their app.
Maya QR POS Solutions for E-Commerce Stores
You can take QR Ph payments online through Maya Checkout, Invoice Payments, and Payment Links. Maya Checkout is a comprehensive digital POS for e-commerce websites that can generate QR Ph-compliant QR codes. Shopify and WooCommerce-based stores can easily integrate Maya Checkout through easy-to-use plugins.
E-commerce businesses without websites may still accept QR Ph payments through Maya Invoice Payments and Payment Links. Maya Invoice Payments allows you to send smart invoices with QR codes through email, chat, or SMS while Maya Payment Links is a simpler solution that lets you accept QR Ph payments over any messaging app.
QR Payments are Even Better with Maya QR
Maya goes above and beyond in facilitating QR Ph payments by giving businesses multiple options to integrate this innovative payment method into their operations. Maya’s selection of QR Ph-compliant solutions and its stellar reputation in the Philippine financial technology space has made it a QR POS vendor Philippines businesses trust. Create a Maya Business Manager account today to start offering QR Ph payments wherever your customers are.
Getting a Maya Business Manager account also lets you enjoy unique offers like Maya 1-2-3 Grow. Maya 1-2-3 Grow helps you grow your business by giving you a 1% MDR (merchant discount rate) on all QR Ph transactions for 3 months after signing. With a 1% MDR, you’ll save PHP 14,600 for every PHP 1 million in QR Ph sales. You can also enjoy further savings by opening a Maya Business Deposit account and using it as your settlement account. With a generous 2.5% p.a. interest and free fund transfers via InstaPay and PisoNet, Maya Business Deposit makes business banking all the more rewarding. Finally, signing up for the Maya 1-2-3 Grow bundle also entitles you to a Maya Flexi Loan offer of up to PHP 2 million, with no collateral required.
Sign up for a Maya Business Manager account today to add Maya QR to your online and offline checkouts. Don’t forget to join Maya 1-2-3 Grow to start saving on every QR code payment.
