Saripay, the financial arm of Growsari Enterprises dedicated to supporting micro, small, and medium enterprises (MSMEs), is proud to celebrate its first anniversary since its inception in 2023. Over the past year, Saripay has been dedicated to its mission to provide MSMEs, including sari-sari stores, local pharmacies, small eateries, and more, with access to essential financial assistance and modern digital payment solutions.
Sandeep Bhalla, General Manager of Saripay, remarked, “As we celebrate our first year in the industry, we are grateful for the opportunity to serve thousands of MSMEs across the country and contribute to their growth and success. At Saripay, we remain committed to empowering MSMEs with the tools and resources they need to thrive and adapt to the ever-changing world of digitalization.”
Saripay’s commitment to the MSME network has been evident through its innovative offerings, including short-term inventory financing loans, Saripay business wallets, and cashless payment solutions through a one-stop Saripay app.
Saripay’s offerings include ELista, a Buy Now, Pay Later financing service that empowers MSME owners to make inventory purchases with just a minimal processing fee. Currently, 70,000 stores have access to credit through ELista, enabling them to stock up on essential items for their businesses.
Saripay has developed a business wallet, catering to over 100,000 stores from both Growsari and Saripay app, providing a secure financial ecosystem. The wallet enables store owners to store their extra capital for future inventory purchases and access essential services within the app. This streamlined feature enhances financial management for MSMEs, offering flexibility and control over funds within the platform.
Moreover, Saripay also connected to suppliers and distributors nationwide, facilitating digital transactions in more than 30 partners across the country, including San Roque Supermarket, Super8, Ultra Mega, LCC Supermarket, Jara, Lovely, and more. All these suppliers and distributor partners accept Saripay as a payment option, whether through Elista or the business wallet, providing users with flexibility in settling their recent inventory purchases.
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o adapt to the world of cashless society, Growsari and Saripay app users get a free QRPH Standee. This enables MSMEs to accept digital payments from their end consumers, transforming the traditional operations of mom-and-pop stores by embracing cashless transactions and moving them away from cash collection, counting cash, and storing cash in the store. With over 30,000 stores enabled for QRPh transactions,Saripay is becoming one of the biggest QRPH issuers for MSMEs in the country, driving the stores to modernize their operations, and aligning with Bangko Sentral ng Pilipinas’ vision of a cashless society.
Looking ahead, Saripay aims to further expand its reach and impact by increasing the number of enabled stores accepting cashless payments and extending credit limits for ELista. By continuing to innovate and collaborate with partners, Saripay remains committed to empowering MSMEs and encouraging economic growth in local communities.
“Saripay is dedicated to advancing the financial landscape for MSMEs. This year, we are also eager to broaden our credit offerings beyond inventory needs, establish insurance partnerships, and facilitate the seamless opening of bank accounts with our partner banks for these stores,” Bhalla concluded.