E-wallet operator wants more social media sellers onboard

Vendors using social media platforms were urged on Wednesday to use digital payment solutions which will enable them tap services that will help grow their businesses. GCash operator G-Xchange, Inc. (GXI) president and chief executive officer Ren-Ren Reyes said in an interview that many "social sellers," or those selling their products and services through social media platforms, are still using personal GCash accounts. Reyes said GXI is looking into ways to help non-registered businesses in social media to get on board "GCash for Business." "I think, we still see a lot of pain points that our businesses are experiencing and we want to be able to, you know, partner with them and solve these pain points," he added. Reyes said sellers in the informal sector doing their businesses on social media do not have proper documents to legitimize their operations, hampering them to access loans that could be used to expand their business. He said GXI is also working with the regulators to help these micro and smal l entrepreneurs register their businesses with minimal requirements needed for them to subscribe to business plan solutions. Reyes added an estimated 6 million business users, including micro enterprises like social media sellers, are using GCash in their operations, including receiving payments. GCash for Business offers tools that will help enterprises in their operations, such as scan-to-pay, payroll, ads and promo solutions, among others. Source: Philippines News Agency