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Saturday, February 15, 2025

MySuki, Security Bank sign deal to empower sari-sari stores

MySuki, a leading B2B e-commerce platform for distributors and retailers to connect with sari-sari stores, announced its partnership with Security Bank, one of the Philippines’ most trusted financial institutions.

The two organizations agreed to address the unique challenges faced by small retailers and equip them with supply chain digitization and inventory financing solutions to succeed in an increasingly digital economy.

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By leveraging Security Bank’s financial services expertise and MySuki’s expansive reach and deep understanding of the sari-sari store market, the partnership is set to deliver seamless solutions that positively impact both businesses and the communities they serve.

MySuki, with a network of 300,000 sari-sari store users and a gross merchandise value (GMV) of about P2 billion per month, established itself as a key player in the digital transformation of the country’s retail ecosystem.

The collaboration with Security Bank, a leading and multi-awarded universal bank, introduces sari-sari store owners to integrated financial solutions, including secure payment processing, seamless credit access, and faster transaction systems—enhancing operational efficiency and spurring economic growth in local communities

Victor Javier, founder and chief executive of MySuki, highlighted its alignment with MySuki’s mission to empower small retailers.

“This partnership represents a giant leap forward in our mission to connect and empower the 1.2 million sari-sari stores across the Philippines. By joining forces with Security Bank, we are breaking down barriers to financial inclusion and providing store owners with the tools they need to thrive in an increasingly digital economy. This is not just a business milestone for us but a transformative step for the communities we serve,” said Javier.

Reflecting on the partnership’s broader significance, Ivan Lanuza, co-Founder of MySuki, said empowering sari-sari stores could uplift entire communities.

“This collaboration is about more than just technology or banking; it’s about creating opportunities and driving meaningful change in the grassroots economy. Our partnership with Security Bank allows us to extend our impact and provide even greater value to the sari-sari store owners who are the lifeblood of the Philippine retail industry,” said Lanuza.

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