VeritasPay looking to expand SME client base

VERITASPAY Philippines, Inc. looks to expand its merchant client base this year to help small businesses scale and meet evolving consumer expectations.

“At VeritasPay, we remain committed to empowering businesses by delivering accessible, reliable, and innovative payment solutions that drive growth and long-term success,” VeritasPay General Manager and Business Development Head Carl Henrison Tienzo said in a statement on Monday.

The payment solutions provider is aiming to grow its small and medium enterprise (SME) client base by 30% to 40% this year, alongside a 45% rise in processed transaction volume supported by continued investments in internal capabilities and strategic partnerships.

VeritasPay enables merchants to accept payments across various touchpoints such as physical point-of-sale (POS) terminals, mobile devices, online checkout pages, or banking channels, through a single provider.

It also allows acceptance of payments via multiple methods including credit and debit cards, QR code payments, and other digital channels.

Since its launch in 2021, the company has expanded its client base to serve merchants in Luzon, Visayas, and Mindanao from just focusing on Metro Manila and the broader Mega Manila area.

VeritasPay said its growth is driven by the increasing demand for accessible and reliable digital payment infrastructure beyond urban centers.

“At the point of sale, speed and reliability are critical to customer experience,” VeritasPay President and Chief Executive Officer Christopher James Payne said.

VeritasPay offers two core solution categories. First, its In-Store suite, which is made up of OnePOS, MobilePOS, and ExpressPOS, caters to day-to-day transactions at physical locations, offering merchants flexible options based on their setup and scale.

Meanwhile, its Online suite includes EasyLink, Checkout, Online Banking and Over-the-Counter, allowing businesses to accept payments remotely and expand into digital channels without overhauling their existing systems.

VeritasPay provides centralized reporting tools that allow merchants to monitor sales, review payment activity, and track transactions by terminal, payment type, or location, serving SMEs’ increasing need for transaction visibility and operational oversight as they expand. — Aaron Michael C. Sy