POSIBLE, a digital transaction provider, offers micro, small, and medium enterprises various business solutions that would allow them to adapt to digitalization.
Financial technology companies are aggressively pushing for cashless payments and offering various related services. Neighborhood retails shops or sari-sari stores will not be able to escape the call for a more digitalized ecosystem.
POSIBLE saw the need to assist MSMEs or what it dubs as kantopreneurs (or wordplay for kanto (street and entrepreneurs) in their journey to adapt to technology. With the POSIBLE Business Device, kantopreneurs are evolving into all-in-one digital hub s in their communities.
Utilizing fintech, the POSIBLE Gen2 Machine offers comprehensive services, including utility bills payment, select government fees, money services like cash withdrawal and deposits, micro-insurance, mobile loading, online gaming credits, and ticketing.
Such consumer convenience and business potential that were once only available to the more technologically advanced businesses are now available to all. This includes 73-year-old street food vendor Elena Bañares. Bañares shared that before she had a hard time paying her bills on time. She remembers being left to tears because she couldn’t get a ride to a faraway payment center where she would settle her dues. She now pays her utility bills through her neighborhood POSIBLE retailer Narlyn Baria. Now, even if Bañares still experience a slight delay in her payments, she is still able to update her bills.
Baria, a former secretary in a cooperative, took out a loan to purchase an affordable second-hand POSIBLE Gen2 machine and started her digital retail business in 2016, offering remittance, bills payment, and prepaid loading services to neighborhood patrons, such as jeepney drivers and other small business owners. She has overcome the challenges she had faced in running her business, such as having earned more than enough to pay back her loan and earning the trust and loyalty of her demanding customers who now frequent her sari-sari store.
Baria is now able to help a lot of people quickly and effectively because of POSIBLE. She has since grown and converted her sari-sari store to a convenient, one-stop, “drive-through” digital business center for jeepney drivers and other customers for financial transactions. These patrons can choose to entrust their transactions with Manang Narlyn, who would list them in her logbook for subsequent processing.