MANILA – Asia United Bank (AUB) launched on Monday its Unified Card QR Link, which allows the bank’s PayMate users to accept Mastercard and Visa payments using only one quick response (QR) code which is expected to be a big boost to micro and small businesses.
In a virtual briefing, AUB senior vice president and Cards and Acquiring Business Group head Mags Surtida said the new product is an enhancement of their Mastercard QR Link, a first in the market, that was launched in 2021.
“This is the reason we immediately developed a Unified Card QR Link so our AUB PayMate merchants can accept both Mastercard and Visa prepaid, debit, and credit card payments from their customers,” she said.
Surtida said the unified link will benefit over 30,000 AUB PayMate merchants and is helpful especially to small entrepreneurs because they do not need separate point-of-sales (POS) terminals to accept these payments.
“With the Unified Card QR Link, merchants, big or small, need not worry if they can meet the required volume of transactions as we made the card acceptance at no additional cost to them,” she added.
Meanwhile, Surtida is optimistic of the continued expansion of their credit card business, saying the bank has “definitely recovered from the pandemic era.”
“All we’re waiting for is for the conduct of travel,” she said, noting people have started to travel again, which is positive for consumer spending.
Surtida said they are “happy” with the rise in their card holders’ online transactions, adding that non-performing loans remain manageable. (PNA)