The Philippines’ Department of Science and Technology (DOST) has added a payment solution to OneSTore.ph, the Department’s e-commerce platform for all DOST-assisted products.
According to a recent press release, the Department signed a Memorandum of Understanding (MOU) with an online payment solutions provider to be its newest payment channel partner in order to make online purchases easier and more convenient for both customers and merchants.
What the partnership entails
The partnership is expected to enhance the online market platform of OneSTore.ph allowing for payments made with credit, debit, and with a prepaid card or e-wallet.
With the partnership, the company will provide end-to-end payment solutions for the platform through an online store gateway checkout.
The end-to-end acquiring service to be provided for the Department will include processing of payment, fraud management and resettlement solution.
This integration, through the provider’s Checkout, will allow merchants to receive settlement for their products, within a day after purchase.
Currently, it takes about two months to disburse the sales from OneSTore.ph to their over 500 merchants.
OneSTore.ph
Launched in 2017 and developed together with the Department of Trade and Industry (DTI), it is the DOST’s marketing platform, which helps micro, small, and medium enterprises (MSMEs) expand their market reach through presence in the digital space.
Products featured on the platform are from MSMEs that were assisted by the Department through its Small Enterprises Technology Upgrading Program or SETUP.
Other areas for partnership
The partnership also opens up other avenues for the two organisations to work together as the payments provider also offers to disbursement solutions for OneLab and OneSTore hubs.
OneLab is a digital platform for a network of laboratories that provides a referral system for convenient and easy access to laboratory testing and calibration services. A payment gateway checkout is being offered to this platform.
OneSTore hubs, meanwhile, are the physical stores for OneSTore.ph merchandise and are currently located in 21 sites nationwide.
Point-of-Sale (POS) terminals are being offered to the hubs. These are portable as well as Wi-Fi enabled, and have their own SIM cards for data.
Having this will enable the hubs to accept card payments instead of just cash.
Additionally, the company would also like to provide QR codes to the hubs for QR payments.
A QR code (Quick Response code) is a machine-readable code, which can be read by the camera on a smart phone. A QR payment is done by scanning a QR code from a mobile application.
Other areas for partnership between DOST and the provider is the possible application of payment systems for the Hybrid Electric Train and as possible means for disbursing allowances to DOST scholars.
