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Security Bank Corporation has partnered with VeritasPay Philippines Inc. to expand access to digital payment solutions for micro, small, and medium-sized enterprises (MSMEs), as businesses increasingly adopt modern payment technologies to meet evolving consumer preferences.
The collaboration forms part of Security Bank’s Beyond Banking Partnership programme, an initiative aimed at supporting business clients with services that go beyond traditional financing.
Under the partnership, MSME customers of Security Bank will be able to acquire VeritasPay point-of-sale (POS) terminals through a referral arrangement at preferential rates. The move is designed to help businesses modernise their payment infrastructure and improve operational efficiency.
According to John David Yap, Senior Vice President and Business Banking Head at Security Bank, the partnership enables MSME clients to adopt payment technologies that enhance customer service and streamline operations as payment behaviours continue to shift toward digital channels.
The integrated POS platform includes a merchant dashboard that allows businesses to monitor transactions in real time and simplify daily payment reconciliation, providing greater visibility into sales and cash flow.
Leo Xerxes C. Cimagala, First Vice President at Security Bank, said connecting clients to these systems will help merchants improve their collections process and gain clearer insight into cash flow management.
BusinessPlus account holders will also benefit from discounted pricing on POS devices, including a five percent reduction for outright purchases and a ten percent discount for monthly leasing options.
Meanwhile, Christopher James Payne, Chief Executive Officer of VeritasPay, described the agreement as the foundation for a long-term partnership aimed at delivering enhanced payment solutions to merchants.
The initiative comes as Security Bank continues to expand its service offerings. In its latest financial results, the bank reported that net income increased by three percent to reach PHP 11.63 billion in the previous year.
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