Shopee Launches First #TatakPinoy Virtual Trade Fair of the Year

“Supporting MSMEs is at the very core of what we do. We are deeply committed to creating more opportunities to help our local businesses adapt and thrive in the e-commerce industry through initiatives like our #TatakPinoy Virtual Trade Fair. We look forward to this opportunity to once again help our sellers in their e-commerce journey, and also allow our users to support these community-owned businesses.” ~Martin Yu, Shopee Philippines Director

Shopee Launches First #TatakPinoy Virtual Trade Fair of the Year

Shopee remains committed to help MSMEs transition to digital easily and seamlessly as it once again partners with the DTI to launch the #TatakPinoy Virtual Trade Fair from March 18-24. This initiative is in line with Shopee’s goal to provide local MSMEs with the support that they need to grow their businesses online.

While MSMEs still comprise the majority of registered businesses in the country, a survey conducted by the Department of Trade & Industry (DTI) - Ecommerce Office in September 2020 showed that 73% of MSMES still require assistance in digitizing their operations. Shopee remains committed to help MSMEs transition to digital easily and seamlessly as it once again partners with the DTI to launch the #TatakPinoy Virtual Trade Fair from March 18-24. This initiative is in line with Shopee’s goal to provide local MSMEs with the support that they need to grow their businesses online.

Through the week-long virtual trade fair, Shopee users will be able to discover and purchase Filipino-made essentials from a variety of shops ranging from snack food, health & beauty, groceries & pet stores, fashion, and more, at discounted rates. This year’s #TatakPinoy Virtual Trade Fair will feature a diverse range of local sellers from Luzon, Visayas, and Mindanao. This is among Shopee’s many initiatives to empower local businesses to shift online and encourage users to support them.  Alongside these virtual trade fairs, sellers are also provided with different marketing tools, training, and initiatives to help them maximize their businesses’ growth on the platform such as Shopee University Summit, where local MSMEs can learn ways to drive their business growth from industry speakers and leaders.

The virtual trade fair will also feature products from beloved Filipino brands such as Splash Personal Care,  Zenutrients, Go Natural, Ever Bilena, San Miguel Foods, EQ, Lifeline Clothing, Sweetbaby, and Tala by Kyla.

“Being able to provide our local MSMEs with opportunities for growth and development is one of our top priorities at the DTI. We understand the important role e-commerce platforms, like Shopee, play in creating a seamless digital transition for MSMEs. Through initiatives like the #TatakPinoy Virtual Trade Fair, we believe that we can help these businesses maximize their full potential and make the digital transition smoother.” ~Marievic Bonoan, DTI’s Bureau of Domestic Trade Promotion Director

Aside from the wide range of products available at the #TatakPinoy Virtual Trade Fair, Shopee users will also be also enjoy ShopeePay vouchers for 20% off with a minimum purchase of Php 300, valid on all #TatakPinoy: Virtual Trade Fair  items this March 18-24. 

For more information about the #TatakPinoy: Virtual Trade Fair, visit https://shopee.ph/m/tatakpinoy2022. 

This year’s #TatakPinoy Virtual Trade Fair will feature a diverse range of local sellers from Luzon, Visayas, and Mindanao.

Union Bank of the Philippines 12th TalkTales: Critical Role of Digitizing Payments in Fast Evolving Market

"UPAY for MSMEs is a payment gateway that is embedded in our MSME Business Banking App. Businesses of all sizes and types now have the power to generate payment links, request payments, send it to their customers and provide multiple payment options, all these reconciled and credited to a single UnionBank account." ~Jaypee Soliman, UnionBank Vice President and MSME Segment Head

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th E-Media TalkTales to how the UnionBank SME Business Banking helps MSMEs jumpstart their business through UPAY, their all in one fully integrated payment acceptance hub. Union Bank of the Philippines invites you to its 12th E-Media TalkTales to discuss how the UnionBank SME Business Banking helps MSMEs jumpstart their business through UPAY, their all in one fully integrated payment acceptance hub.

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Filipinos are now utilizing digital payments more than ever. Last month, the Banko Sentral ng Pilipinas reported that digital payments made up 20.1 percent of all transactions in 2020, more than double the figure from two years ago of 10 percent. This strong momentum is creating opportunities particularly for enterprising Filipinos who engage in e-commerce.

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

To help micro, small, and medium enterprises (MSMEs) in the country capitalize on this growing trend, Union Bank of the Philippines (UnionBank), the region’s digital trailblazer and the country’s foremost bank for MSMEs, has launched a groundbreaking feature that will make e-payments easier and secure not only for customers but also for MSMEs—the new UPAY for MSME.

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

This was unveiled at the Bank's 12th E-TalkTales media event, wherein UnionBank Vice President and MSME Segment Head Jaypee Soliman, and UnionBank Merchant Acquiring and Payment Gateway Head Gerry Austria led discussions on the critical role of digitizing payments in the country's fast evolving market.

Soliman began the discussions by talking about the state of digital payments in the country, citing the significant growth in the number of Filipinos who utilize these payment solutions. This is an indication that Filipinos are now more open to the idea of becoming a cash-lite society.

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

“This shows how the consumers are now transacting digitally. They are ready. They are there. The number of Filipinos having e-wallets and bank accounts continue to grow. But the question is, are the MSMEs ready to accept digital payments?"

This is where UPAY comes in. UPAY is a groundbreaking digital payments solution designed to make acceptance of multiple payment options accessible to MSMEs. It offers a fully integrated, single platform payment collection complete with other features that can make inbound payments easier for entrepreneurs, including the option to generate payment links with multiple collection channels, and the option to generate InstaPay QRPH for digital and physical channels.

Union Bank of the Philippines 12th TalkTales: Critical Role of DigitizingPayments in Fast Evolving Market

What makes UPAY convenient for accepting payments is that customers can choose their preferred payment channel either via Unionbank Online, InstaPay, Other Digital Wallets, Credit/Debit Cards and even over-the-counter through UnionBank’s expansive network of partner channels nationwide.

"When we conceptualized UPAY for MSMEs, we wanted to do away with all the different hassles that the merchant is experiencing to set up his payments, one of which is having to connect to a point-of-sale system, having to have different devices, having to have to download different apps. Second, it's the efficiency in doing business. You don't need to be in your physical store to actually have a customer pay you. You can actually be vacationing somewhere else and someone wants to buy a product which they saw through your post on Instagram or Facebook. You can actually just create a payment link and send it to that customer, so it's very convenient for both the merchant and the customer." ~Gerry Austria, UnionBank Merchant Acquiring and Payment Gateway Head 

Through the new feature, UnionBank wants to level the playing field for MSMEs by making the feature accessible to them, which was previously only available to the bigger merchants as part of enterprise platforms that are too technologically demanding and expensive for smaller players.

For more information about the company and this article, please visit

www.unionbankph.com/msme/upay.

UBX’s SeekCap Named 2020 BAI Global Innovation Awards Finalist

"Now more than ever, MSMEs play a critical role in revitalizing the Philippine economy. Yet, MSMEs are acutely affected by access to credit and working capital, which has been further impacted under COVID where manual and paper-based lending practices are difficult and often impossible. With a fully digital experience and quick approvals, SeekCap addresses this gap. MSMEs don't even need a bank account to apply. UBX is honored by BAI's recognition of our mission to provide opportunity and access for all" ~John Januszczak, UBX President and CEO

UBX’s SeekCap Named 2020 BAI Global Innovation Awards Finalist

UBX’s SeekCap has been selected as a finalist in the Societal and Community Impact Innovation category for the 2020 BAI Global Innovation Awards, a prestigious awards program that recognizes financial services organizations that have gone beyond the conventional to bring creative ideas to life, especially during a time of unprecedented change. 

The 2020 BAI Global Innovation Awards finalists represent the most distinctive, impactful solutions in the global financial services industry, and UBX, the fintech spinoff of Union Bank of the Philippines, was selected from hundreds of nominations submitted.  

UBX’s SeekCap is the Philippine's first same-day approval loan marketplace for MSMEs in the country. Through SeekCap, multiple banks and lending institutions can swiftly create and launch loan products on the marketplace, thereby allowing MSME borrowers to choose what loan product best suits their business needs and apply for loans digitally and seamlessly on a single platform. Loans are approved on the same day and disbursed within three working days. This is a drastic improvement in the turnaround time for traditional loan application processes in the country that usually take 30 to 90 days. 

MSMEs who were previously unable to get access to financing because of being ‘thin-file’ or not having the bank statements and long credit history to show as proofs, can now be financially included. This is because SeekCap goes beyond traditional means and leverages alternative data sources to assess their creditworthiness. 

This solution was built by UBX together with OneConnect Financial Technologies to provide an end-to-end digital lending marketplace that allows MSMEs to quickly 'seek capital' - search, compare and apply for credit digitally and seamlessly, and enjoy fast approval within a day. SeekCap is a play on the Filipino word 'sikap' which means perseverance, diligence, and hard work.   

Since its inception in 2011, the BAI Global Innovation Awards recognizes industry leaders from all regions of the world. It showcases what these innovators are doing to deliver new value to customers and employees, as well as to improve efficiencies and profitability for their organizations. To learn more about the BAI Global Innovation Awards and all of the finalists, please visit BAIGlobalInnovations.com.