In the age of digitalization of financial transactions, sari-sari stores are challenged to keep up with this trend. Leading community-based digital transactions provider POSIBLE is committed to making digital financial services available to MSMEs (micro, small, and medium enterprises). With the POSIBLE Business Device, more sari-sari store owners or kantopreneurs (corner entrepreneurs) are evolving into all-in-one digital hubs in their communities.
Not your typical sari-sari store
Around the busy streets of Manila, a family’s sari-sari store of 12 years continues to prosper despite its competition against bigger establishments in its neighborhood.
Located behind a mall in Malate, RJames Store started out like any typical sari-sari store selling snacks, canned goods, and other basic necessities. Only one person could occupy the small space, and over the years it had to be extended three times.
RJames Store also offers e-loading and e-money transactions which remarkably grew through the years. Transactions soon reached P100,000 within a week after this particular service was offered.
The store soon upscaled its business from being a regular sari-sari store to offer more services in their community. With a P45,000-peso investment through POSIBLE, it expanded to include bills payment, select government fees payment, banking & financing services, bus ticketing, e-money transactions, insurance, mobile loading, and online gaming credits, among others.
POSIBLE is a fintech and digital services provider based in Makati City that offers bills payment, money services, and mobile loading among others. It is one of the biggest business-to-business-to-consumer (B2b2C) networks in the country.
For its wider array of services, fast transactions, and convenient location, RJames Store gained more popularity in their neighborhood. Amidst its competition against bigger stores and mall, it recorded a 65% increase in its sales. The POSIBLE retailer has been attributed as a huge factor to this success. Convenience is another reason, as paying bills through a sari-sari store would be easier than lining up in a bank or payment center located in the mall.
The 2018 Nielsen Quest for Convenience stated convenience is the top priority of Filipino consumers. Through fintech, POSIBLE continues to make more products and services available in the community by empowering MSMEs.
POSIBLE CEO J.G. Puzon expressed, “We are pleased to see that our kantopreneurs are being enabled to offer services more than the traditional products in the community. With our innovations, we are seeing MSMEs upscale their businesses and make financial transactions even more convenient for Filipinos.”
Today, POSIBLE has over 5,000 empowered retailers nationwide, making digital financial services accessible to over 500,000 unique customers.