Does your business accept cashless payments? According to Visa’s latest Consumer Payment Attitudes Study, about 82 percent of Filipino consumers tried to go cashless in 2022, a figure that represents the latest in the decline of physical cash usage in the traditionally cash-centric Philippines. The same study also noted that only 6.4 out of 10 purchases were made through cash payments in 2022 lower than the 7.8 out of 10 figure from the previous year.
While cash remains king in the Philippines in many other settings, its heyday as the dominant payment method is over. With cashless payments on the way up, businesses that neglect to offer a sufficient range of cashless options not only risk missing out on a wider market but they may also lose existing customers.
No Website, No Problem
One reason some Philippines-based business owners are hesitant to accept cashless payments is that there is a perception that doing so might be complicated or might be disruptive to their current operations. On the contrary, the learning curve is quite shallow for most people, and innovative fintech companies like Maya have made going cashless easier than ever before.
Through our payment gateway products like Payment Links, Invoice Payments, and QR Ph, small- and medium-sized enterprises (SMEs) don’t even need a website or any special devices to start accepting payments through popular cards and e-wallets. Getting paid can be a simple matter of sharing a payment link with your customers.
How To Start Accepting Cashless Payments
With Maya Business, you don’t need a website or any special equipment to accept payments via credit cards, debit cards, QR Ph, e-wallets (like Maya and GCash), and other popular cashless payment methods. Once you create a Maya Business account, you’ll have access to a selection of Maya payment gateway products that you can use to accept popular and emerging cashless payments, regardless of your business’s setup. Here’s how you can go cashless with Maya:
Having a Maya Business account can empower your business in other ways. Merchants can open a Maya Business Deposit account for better financial flexibility and great interest rates on their business savings. If you have a Business Deposit and use Maya Business solutions frequently, you may also tap into new funding through Maya Flexi Loans.
Creating a Maya Business account also gives merchants access to Maya 1-2-3 Grow and other promos can be used to drive their business further. This exceptional package is designed to supercharge your business. By taking advantage of this offer, your business can take advantage of a 1% merchant discount rate (MDR) on all QR Ph sales (valid for 3 months from the day you sign up). What's more, you'll also enjoy a 2.5% p.a. interest on your Maya Business Deposit account, boosting your financial returns. As a bonus, enrolling in this bundle also grants you exclusive access to a Maya Flexi Loan offer in as little as 3 months.
Maya Payment Products for Businesses without Websites
Businesses without websites can enjoy a range of cashless payment options from Maya. You can adopt them all to maximize your payment channels or choose the ones that best suit your business’s immediate needs.
Payment Links
Maya’s Payment Links is the perfect tool for SMEs and startups that don’t have a website or operate mostly out of social media or messaging apps. This link payment solution allows you to generate a link that your customers can use to pay with their cashless method of choice. The generated online payment link can be sent on any messaging application that permits live links, including those on popular social media sites.
If you don’t have a website but still do a lot of business online, Payment Links is a must-have, as it greatly simplifies the payment process and empowers customers to pay with any card, e-wallet, or any other cashless method. It’s also extremely convenient as you can use the same link for any number of transactions, cutting down the risk of human error.
Invoice Payments
If your business requires frequent invoicing, Maya Invoice Payments is the product to get. This solution allows you to create custom-made invoices that could be sent over email, chat, and SMS. With Maya Invoice Payments, your business can readily accept credit card, debit card, QR Ph, and e-wallet payments without the need for a website. What’s great about Invoice Payments is that it allows you to fine-tune the appearance of your invoices, giving your brand the consistency it needs to cultivate trust and recognition.
QR Ph
For fast, error-free payments, QR Ph is a great option. Once the new QR Ph standard is fully rolled out, you’ll only need one QR code to accept cashless payments from all e-wallets and mobile banking apps. You don’t need a website to use QR Ph and you can send your code through messaging apps and email. You can even print it up and display it at your physical store’s POS for fast and reliable contactless payments.
You Don’t Need a Website to Go Cashless
Thanks to Maya’s simple payment solutions, your business doesn’t need to set up a website to enjoy the benefits of going cashless. Create your Maya Business account today to find cashless payment options that fit your business’s unique needs.
