The Department of Science and Technology (DOST) recently inked a Memorandum of Understanding with the Land Bank of the Philippines for the setting up of a payment gateway for the DOST?s OneSTore.ph.
Initiated by DOST secretary Mario G. Montejo and developed by DOST Region 2, OneSTore is an e-commerce Web application that provides a marketing platform for DOST- assisted micro, small, and medium enterprises (MSMEs) under its Small Enterprise Upgrading Program (Setup).
Under the MOU, Landbank will provide the payment solution system of the OneSTore project through its ePayment Portal, which will provide a secure and convenient payment platform while facilitating operational and cost efficiencies for seller-MSMEs.
In his speech delivered by DOST assistant secretary and program manager for countryside development Urdujah A. Tejada, Montejo stressed that DOST is continuously making progressive strands towards creating a platform wherein the nation can benefit.
?The digital world is a booming market and quickly becoming the leading industry for investors. Various projects have been implemented in order to ensure that every Juan and Juana can have the capacity to access the Internet and the opportunity to foster personal and economic growth,? Montejo said.
Meanwhile, Landbank president and CEO Gilda E. Pico cited for the opportunity to be part of new a project which provides an online platform for MSMEs to promote and sell their products to both local and international markets.
?Through this partnership, we hope to go a step further than providing financial support by contributing to DOST?s thrust to address another key challenge that Philippine MSMEs contend with — effective marketing through technology,? Pico added.
Unlike the traditional marketing system, OneSTore is a 24-hour system where the buyers have several options of products, as well as the terms of payment, to choose from, and will be facilitated by a very convenient door-to-door delivery system.
OneSTore addresses the common problem of MSMEs on the lack of adequate budget for their product promotions and marketing. Through the online marketing platform, MSME owners can upload and sell their products.
DOST 2 regional director Sancho A. Mabborang said DOST and Landbank shares the same goals in advancing the plight of local entrepreneurs through technology.
?DOST and Landbank both aim to establish or develop the countryside and have an exclusive growth and both possess the necessary technologies for e-banking services,? Mabborang said. ?We are like puzzles; we are meant to be and fit for each other.?
As of December 2015, Landbank remains the biggest lender among government financial institutions, with outstanding loans reaching P57.3 billion.
Landbank, on the other hand, is also interested to take on a bigger role in promoting OneSTore.ph, make it the preferred platform for Filipino entrepreneurs, and explore the expansion possibilities of the online marketing channel where Landbank can provide financing support.
?In the future, we can also look into bringing in Landbank-assisted MSMEs from across the country to showcase and market their products through OneSTore.PH. Through collaboration, we can align and integrate our efforts towards addressing the requirements of market players across the supply chain,? Pico added.
Prior to Landbank, OneSTore has also partnered with Air21 as their official logistics companion cum product courier. OneSTore will cater international transactions as soon as more partners come in.
To date, OneSTore.ph already had about 143 successful transactions worth P530, 000 since its soft launch at the celebration of National Science and Technology Week last July 2015, and is expected to boom in the next months. — DOST-STII