Manila, Philippines – In an exciting development for the retail and financial sectors, MySuki, a leading B2B e-commerce platform for distributors and retailers to connect with sari-sari stores, has announced its partnership with Security Bank, one of the Philippines’ most trusted financial institutions.
With a network of 300,000 sari-sari store users and a Gross Merchandise Value (GMV) of about Php 2 billion per month, MySuki has firmly established itself as a key player in the digital transformation of the country’s retail ecosystem. This collaboration with Security Bank aims to further empower sari-sari store owners across the country by providing innovative financial solutions that enhance operational efficiency and foster economic growth in grassroots communities.
Together, the two organizations are committed to addressing the unique challenges faced by small retailers and equipping them with the tools to succeed in an increasingly digital economy. By leveraging Security Bank’s trusted financial services and MySuki’s expansive reach and deep understanding of the sari-sari store market, this partnership is set to deliver seamless, impactful solutions that benefit both businesses and the communities they serve.
Revolutionizing Financial Access for Sari-Sari Stores
The partnership introduces integrated financial solutions, including secure payment processing, seamless credit access, and faster transaction systems. These offerings are set to revolutionize how sari-sari store owners manage their operations, providing them with the financial support they need to thrive.
Through this collaboration, MySuki will integrate Security Bank’s cutting-edge financial services directly into its platform, enabling sari-sari store owners to enjoy smoother transactions and better access to financing opportunities.
CEO’s Vision: Building a Digital Future Together
Speaking about the partnership, Victor Javier, CEO and Founder of MySuki, highlighted its alignment with MySuki’s mission to empower small retailers:
“This partnership represents a giant leap forward in our mission to connect and empower the 1.2 million sari-sari stores across the Philippines. By joining forces with Security Bank, we are breaking down barriers to financial inclusion and providing store owners with the tools they need to thrive in an increasingly digital economy. This is not just a business milestone for us but a transformative step for the communities we serve.”
Co-Founder’s Insights: Driving Social Impact through Collaboration
Reflecting on the partnership’s broader significance, Ivan Lanuza, Co-Founder of MySuki, shared:
“We believe that when you empower sari-sari stores, you uplift entire communities. This collaboration is about more than just technology or banking; it’s about creating opportunities and driving meaningful change in the grassroots economy. Our partnership with Security Bank allows us to extend our impact and provide even greater value to the sari-sari store owners who are the lifeblood of the Philippine retail industry.”
Financial Inclusion: Enriching lives through BetterBanking
On how Security Bank’s partnership with MySuki aligns with the Bank’s vision to become the most customer-centric bank in the Philippines, John Cary Ong, EVP and Wholesale Banking Segment Head, said:
“We look forward to delivering our BetterBanking brand promise to even more Filipinos with MySuki. Our partnership will allow us to empower businesses at the sari-sari store level by providing a financial highway that will support the timely order and delivery of goods. In turn, this will enrich the lives of more than 1.3 million sari-sari store owners and develop the communities in which they serve.”
Driving Social Progress: Empowering Sari-Sari Stores
Sharing his perspective on the partnership’s impact, Earl Perlas, Head of Fintech at MySuki and the leader of its Inventory Financing and Buy-Now-Pay-Later (BNPL) service called Kasuki, emphasized the importance of financial accessibility to sari-sari stores:
“With Kasuki, we aim to empower sari-sari store owners by giving them access to affordable and flexible financing options through our existing MySuki partners. This partnership with Security Bank is a critical step in achieving that mission. By leveraging our deep understanding of the retail landscape and Security Bank’s financial expertise, we can provide sari-sari stores with access to additional capital, enabling them to grow sustainably and thrive in a competitive market.”
Looking Ahead: A Future of Innovation
The partnership between MySuki and Security Bank is just the beginning. Both organizations are exploring additional features and services to further enhance the platform’s value for sari-sari store owners. Plans for regional expansion and tailored financial solutions are already in the works, ensuring that the benefits of this partnership reach even more communities.“This is just the start of a journey to redefine how small businesses engage with financial services,” said Victor Javier. “Our shared vision with Security Bank is to create a sustainable ecosystem where sari-sari stores can grow, prosper, and continue to serve their communities.”
Partnership in Progress: Building for the Future
The MySuki-Security Bank partnership marks a significant step forward in empowering sari-sari stores and fostering social development. With their combined expertise and dedication, the two organizations are poised to drive meaningful change for small businesses across the Philippines.
For sari-sari store owners looking to elevate their businesses, this partnership provides a game-changing opportunity to streamline operations, access financing, and thrive in a rapidly evolving retail landscape.
For more information, visit www.mysuki.io or www.securitybank.com.
