- Uno Bank launches app to digitalize Philippines’ sari-sari stores.
- UnoBiz offers comprehensive solutions for small retailers.
- Experts warn of challenges in B2B ecommerce and informal markets.
Mom and pop shops go digital
Uno Digital Bank is embarking on an ambitious journey to digitalize over 1.3 million sari-sari stores in the Philippines.
The bank’s new app, UnoBiz, aims to revolutionize how these small retailers manage their operations, from payroll to inventory. This initiative follows Uno’s recent $32.1 million pre-series B fundraise, bringing its total funding to $75 million.
A digital Swiss army knife for merchants
UnoBiz isn’t just another banking app. It’s designed to be a one-stop solution for sari-sari store owners, offering various payment acceptance methods, credit facilities, and even targeted promotions from brands.
Uno Bank’s co-founder, Kalidas Ghose, believes this comprehensive approach will give them an edge over competitors in the bustling Filipino market.
Despite the potential, Uno faces significant hurdles. The failure of many B2B ecommerce players in Southeast Asia serves a cautionary tale.
Industry experts warn about the complexities of entering adjacent merchant services and the challenges of working small, often informal businesses.
However, Uno remains optimistic, betting on its digital banking expertise and deep pockets to navigate these choppy waters.
To read the original article: https://www.techinasia.com/uno-bank-faces-b2b-firms-digitalize-philippines-sarisari-stores
