MANILA, Philippines - Landbank of the Philippines has agreed to provide an online payments solution to oneStore.ph, an e-commerce platform set-up by the Department of Science and Technology (DOST) for micro, small and medium enterprises (MSMEs).
The partnership was formalized when Science and Technology Secretary Fortunato dela Peña and Landbank president and chief executive officer Alex Buenaventura signed a memorandum of agreement last week.
Under the deal, Landbank will use its ePayment Portal (ePP), which provides a secure and convenient payment platform while facilitating operational and cost efficiencies for seller-MSMEs.
“Prior to the establishment of oneStore.ph, the country did not have an e-commerce platform that caters exclusively to quality Filipino products. This is why the government and its agencies have made deliberate and concerted efforts to leverage our MSMEs to a vantage point, where they can be strategic in their chosen venture,” Dela Peña said.
The partnership is seen to boost MSMEs’ sales through the e-commerce platform, Buenaventura said.
“We are grateful for the opportunity to be part of this breakthrough service which provides an online platform for MSMEs to promote and sell their products to both local and international markets,” he said.
Initiated by former DOST secretary Mario Montejo and spearheaded by the DOST Region 2 led by Sancho Mabborang, oneStore.ph was launched in July 2015, under the agency’s Small Enterprise Upgrading Program (SETUP).
Under SETUP, the DOST provides assistance to MSMEs primarily in the form of equipment and technical expertise consultancy. The MSMEs pay back the DOST in a three-year period without interest.
The DOST’s SETUP has assisted more than 26,000 MSMEs.
After the successful establishment of the oneStore.ph online portal, the DOST Region 2 further expanded the program by developing a mobile app for Android phones. Mabborang said that they are now developing an app for IOS or for iPhones.
Aside from the online and mobile stores, DOST Region 2 has also set up physical establishment called oneStore.ph Hubs, where the public can buy the MSME products.
In his presentation at the MOA signing last Tuesday, Mabborang said there has been about P1 million in sales transactions done on the oneStore.ph online store.