UBX’s BUX recognized as Best Digital Payment Facilitator in the Philippines

Bux Best Payment Facilitator Award
Bux recognized as 2021 Best Digital Payment Facilitator-Philippines

Global Brands Magazine (GBM), a UK-based organization that honours excellence by identifying the top brands across various industries, recognized UBX’s BUX as Best Digital Payment Facilitator – Philippines for 2021. More than 7,000 companies were evaluated in GBM’s latest study.

BUX, launched by UBX in 2019, is an end-to-end payment gateway for e-commerce. BUX offers a single payment platform, unifying various payment channels including over-the-counter, online banking, cash on delivery, e-wallets, installments as well as debit and credit cards.

To date, BUX has signed up close to 100,000 SMEs and individual users. As of February 2021, sign ups have increased by 14x, and transaction count has grown 57x versus the same period last year – proof of an increasing rate of digital transactions.

BUX continues to be a game changer for Filipino entrepreneurs as it simplifies and addresses the needs of MSMEs. For one, little to no programming experience is required because BUX is embeddable. Business owners can integrate BUX into their e-commerce website – whether they are using Sentro, Shopify, WooCommerce, or PrestaShop, with more being added. There are no set-up fees involved, only competitive transaction fees whenever a customer checks out depending on the chosen payment channel.

MSMEs can accept payments from over 50,000 payment locations nationwide including 7-Eleven, Bayad Center, SM, Robinsons, Rustan’s, LBC, Cebuana Lhuillier, Palawan Pawnshop, and many more. They can also receive payments via GCash and GrabPay as well as banks, debit and credit cards. MSMEs can easily send BUX payment links via chat, text, email or Universal QR codes, making it convenient for customers to pay for products and services. Online sellers and business owners can simply track the payment status of their customers across multiple payment channels from their BUX dashboard.

By listening to and understanding the challenges of Filipino MSMEs, BUX continues to create MSME-centric solutions that help improve the chances of a business venture’s success, with more features and functions slated to be released in 2021.

Read original article by Manila Bulletin here.

Bux partners with GrabPay

Bux, the payment gateway of UBX (the fintech arm of UnionBank of the Philippines, Inc.), now allows merchants to accept payments made through GrabPay, Grab’s in-app digital wallet.  

“The whole idea is to allow entrepreneurs to receive payments and make transactions on a digital platform in the safety of their homes,” said Bux in an e-mail to BusinessWorld. “Usage of the platform was organically accelerated and made more valuable during the pandemic, because … there was an emphasis on no-contact transactions.” 

Launched in December 2019, the e-commerce payment gateway was designed to support small- and medium-sized entrepreneurs, with options to scale. 

“Anytime a consumer decides to enter into the informal economy as an occasional seller, Bux has the tools to enable that,” the company said. “Bux’s connection with UBX ventures can also enable higher-level entrepreneurial engagements… all the way to enterprise-level solutions.”  

Apart from GrabPay, BUX’s other payment partners include UnionBank, 7-11, GCash, VISA, and ecPAY. Transaction fees are from P10+2% to P20 per transaction for e-wallets and over-the-counter transactions, respectively. A buy now, pay later option with a 1.5% transaction fee is also available. 

“The market of UBX ventures is currently local, but all the tools that the UBX venture suite provides … are easily replicable in other economies once the relevant cross-border regulatory frameworks are set in place,” Bux told BusinessWorld. “But for now, even as the market is limited to the Philippine setting, we are constantly looking for new ways and developing features that will help our customers make the journey from users of the payment gateway to becoming enterprise accounts.” — Patricia B. Mirasol 

To read the original article from Business World, click this link.

Visit Bux now: https://bit.ly/3yoS9Re

UBX recognized anew as Fastest Growing FinTech Company in South East Asia for 2021

Global Banking and Finance Review, a leading online and print finance publication, named UBX as the Fastest Growing Fintech Company in South East Asia for 2021. This is the second year in a row that UBX was recognized with this award.

With this back-to-back recognition, UBX demonstrates that it is living up to its mission of creating opportunity and access to financial services for everyone by designing solutions for digitally and financially underserved communities.

Union Bank of the Philippines (UnionBank) spun off its fintech venture studio and fund, UBX, in 2018, two years after embarking on its digital transformation. UBX envisions a world in which financial services are effortlessly integrated into the activities and experiences that really matter to businesses and people.

UBX’s i2i, the nation’s fastest growing payments network, digitally enables financial institutions and other community based financial service providers. In a timely response to the pandemic and the need to digitally enable distribution and access to funds, i2i built its Mobile ATM that brings ATM services to the community while also providing an additional source of income to businesses. Reducing travel and bringing cash distribution closer to home means safer access to funds while saving ATM customers time and money. Monthly i2i Mobile ATM volumes rose 3000% in the last six months of 2020. In 2021, i2i acquired over 1,500 new financial service providers and agents to the network via a joint venture with the Irish financial services technology giant Fexco.

Elsie Dizon, an i2i Mobile ATM sari-sari store owner partner, said, “Natutuwa ako kasi kahit wala pang isang buwan ang aking i2i MATM business, nadagdagan na ‘yung customers ko. At siyempre namimili din sila ng ilang items sa tindahan ko pagkatapos nilang mag-withdraw. Masaya din sila kasi merong mas malapit na ATM services sa kanila at kahit sa ibang barangay, dito rin sila nagwi-withdraw sa akin. Nagpapasalamat ako sa i2i Mobile ATM dahil nadagdagan ang kabuhayan ko.”

“I’m glad because even though my i2i MATM business is less than a month old, my customers have increased. And of course, they also buy some items in my store after they withdraw. They are also happy because ATM services are closer to them now and even in other barangays, they also withdraw from my store. I am really thankful to i2i Mobile ATM because it has helped grow my livelihood.”

UBX also has SeekCap, the country’s first online lending marketplace, which has the capacity and capability to facilitate lenders in scaling their lending processes through innovative technology, as well as enable business owners to access credit digitally with faster turnaround time and less hassle. Application, processing and disbursement is purely digital. To date, over 40,000 MSMEs have registered on SeekCap and the marketplace has processed over P2 billion worth of business loans.

As ecommerce sites grow in popularity, most Filipinos are shifting to online payments and going digital when it comes to shopping. UBX’s Bux and Sentro solutions empower both merchants and consumers through technology.

Bux is UBX’s end-to-end payment gateway for all businesses – from the smallest casual seller to the largest enterprise. With over 100,000 businesses signed up, it continues to grow during this pandemic. Recently features launched include Universal QR code, digital checkout and Shopify integration.

“Our store J&A Tickets and Tours is very happy working with BUX and Sentro. It enables our stores to secure payments from our clients thru our Facebook pages. We are able to help travelers to save money by accepting payments without remittance charges. We are able to grow the number of affiliate agents we have. We are able to leverage our services and maximize the benefits of our contracts with the suppliers. Thank you for empowering our store in the countryside.” from John Pineda, Owner of J&A Tickets and Tours

The country’s first free online Shop Builder, Sentro, celebrates its first year of delivering an all-in-one ecommerce platform for Filipino business owners to jump-start, run, and grow their enterprises. To date, it powers over 30,000 merchants across the country. Facebook Business Shop owners can link their stores to Sentro. This enables them to convert their stores from a marketing outlet to a full-fledged e-commerce store. Within minutes, Facebook Shop business owners can automatically accept payments, handle orders, and book deliveries through Sentro from their supercharged Facebook Shop.

UBX also has QLabs, a one-stop shop for web, mobile, and platforms design and development. It co-creates solutions for businesses, powered by a team equipped with full-stack development capabilities and end-to-end services. QLABs developed PERA HUB’s mobile application to implement their bills payment feature. This allows customers to use the PERA HUB application to pay bills to over 3000 merchants. UBX is the gateway to fintech in the Philippines.

With the uncertainties and challenges brought by the pandemic, one thing’s for sure – UBX continues to create digital platforms and marketplaces providing opportunity and access for digitally and financially underserved Filipino communities.

To read the original article from Manila Bulletin, click here.

Bux bringing you more cashless payments options with QR payments

Bux, UBX’s embeddable end-to-end payment platform, launches universal QR payments enabling over 100,000 Bux merchants to accept payment with just a scan from their customers’ mobile devices.

Over the course of the pandemic, there has been a growing demand for cashless payments. QR payment is a type of contactless transaction that is enabled by scanning a code on your mobile phone. Its simplicity and convenience make it one of the most preferred ways to make a payment.

With a universal QR code that is digital, printable and customizable, Bux provides its merchants a significant advantage—a much easier way for customers to pay digitally, even in physical locations, by just using the camera of a customer’s mobile phone. This means, less hassle for merchants, greater safety, and flexible options for their customers when it comes to payments.

Customers can either scan the code from a mobile device, click on the code, or copy the unique QR code provided, then they will be directed to the merchant’s online checkout. From a single, universal QR code and checkout, customers can access all payment options and channels available in Bux, including over 50,000+ over-the-counter locations, e-wallets, online banking, debit and credit cards.

Bux merchants have their own customizable and universally accessible checkout site. Merchants can customize the checkout experience with their brand and business name. They can add their own messaging; minimize errors through pre-populated amount selection, let their customers input their desired amount, or have both the option and let their customers decide. They can also add custom fields where they can optionally ask for additional customer information, or if they want to track what attributes of the products being purchased — a very helpful feature for those in the fashion, food and beverages industries. Additionally, they can include links to their social media sites and website. 

Bux merchants can also say goodbye to the hassle of generating hundreds of payment links as they can download a printable version of the Bux QR code that they can use for their brick-and-mortar businesses, or publish a digital version of it on their website and social media accounts.

Bux QR code payments open up opportunities to businesses outside of e-commerce. Fundraisers and those who are planning to launch a donation drive can utilize Bux QR links to collect donations thru Bux’s payment methods. This will be made even easier with the upcoming launch of UBX’s digital donations platform: QShare.

Bux is committed to reimagining the payment landscape for Filipino businesses, making it simpler and easier for businesses to collect payments. Alongside universal QR codes, Bux has launched a Shopify plugin, bringing the power of Bux to over 11,000 Shopify web stores in the Philippines.

Bux is committed to making payments easier and transforming lives one transaction at a time.

To read the original article from Manila Bulletin, click this link.

Visit Bux now: https://bit.ly/3xy2iLz

UBX wins Best Digital Community Impact Initiative Southeast Asia 2020

A digital revolution is underway in the Filipino finance market, with fintech champion UBX leading the charge. UBX serves as the fintech arm of local giant Union Bank of the Philippines (UnionBank), operating as a separate entity to manage tech initiatives, build platforms and make investments in fintechs. The UBX moniker is a clever representation of that mission statement: UnionBank to the power of x. It creates opportunities through collaborative partnerships and the application of innovative technology. The UBX line-up features UnionBank-incubated solutions such as the i2i and platforms such as BUX, Sentro and SeekCap.

BUX is an embedded eCommerce platform helping to grease e-commerce wheels. Sentro provides tools to build online stores in minutes. Blockchain-based i2i targets underbanked rural populations by connecting them to financial institutions across the country. The breakthrough solution has enabled citizens in hard-to-reach areas to access the government’s Covid-19 stimulus payments.

As a fintech, UBX is not constrained by traditional banking regulations and encourages out-of-the-box thinking to incorporate financial services into B2B, logistics and financial services ecosystems. The tactic has been proven to boost financial inclusion and promote growth.

UBX launched QLabs, where a talented tech team with blockchain and full-stack development capabilities helps companies on their own digital transformation journeys embed financial services into their consumers’ daily lives.

UBX has just celebrated its first anniversary, and the CFI.co judging panel is pleased to add another candle to the cake. UBX wins the 2020 award for Best Digital Community Impact Initiative (Southeast Asia).

To read the original article by CFI.co here.