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A bank creates a single QR link to support small businesses.
Asia United Bank (AUB) unveiled its Unified Card QR Link on Monday, enabling PayMate customers to accept payments from both Visa and Mastercard using a single quick response (QR) code. This development is anticipated to have a significant positive impact on micro and small companies.
Mags Surtida, senior vice president of AUB and head of the Cards and Acquiring Business Group, stated during a virtual briefing that the new solution is an improvement of their Mastercard QR Link, a first in the industry that was introduced in 2021.
For our AUB PayMate merchants to be able to take payments from customers using Mastercard and Visa prepaid, debit, and credit cards, she said, “we quickly designed a Unified Card QR Link.”
Over 30,000 AUB PayMate retailers will gain from the unified link, according to Surtida, and small business owners in particular will find it useful because they won’t require separate point-of-sale (POS) terminals to accept these payments.
Because we made the card acceptance at no additional cost to them, she continued, “merchants, big or little, need not worry if they can reach the required number of transactions with the Unified Card QR Link.”
Surtida, meanwhile, is upbeat about the ongoing growth of their credit card business and claims that the bank has “clearly recovered from the pandemic era.”
She noted that individuals had resumed traveling, which is good for consumer spending, and stated, “All we’re waiting for is the conduct of travel.”
Surtida stated that they are “glad” with the increase in online activity from cardholders and added that non-performing loans are still under control.
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