Visa and UMSI advance financial inclusion with new payment innovation for Filipino SMEs

Visa (NYSE: V), a global leader in digital payments, and USSC Money Services, Inc. (UMSI), one of the largest one-stop shops for financial services in the Philippines, are ushering in a new era of payments digitalization with the launch of U Accept, an innovative payment solution that empowers micro, small, and medium enterprises (MSMEs) to securely accept contactless card payments using an eligible smartphone.

U Accept is powered by Visa Accept, a payment solution that enables merchants to turn their smartphones into payment acceptance devices and removes the need for traditional point-of-sale terminals. Integrated as a key feature of the uGrow app, UMSI’s digital platform for entrepreneurs and small businesses, U Accept helps remove barriers to digital acceptance and helps MSMEs participate more fully in the digital economy.

Making up more than 99% of all business enterprises and generating 67% of total employment in the country^[1], MSMEs play a crucial role in economic development. However, multiple barriers hinder MSME owners from accepting card and other digital payments, including upfront hardware costs, lengthy onboarding processes, and a general lack of awareness on enabling products and solutions. 

Tapping into opportunity

Visa’s research shows that accepting cards creates positive impact for both MSME owners and consumers^[2]. Among Filipino SME owners, 83% reported an increase in turnover after accepting card payments, and 41% said customers spent more when they used cards. For those who do not accept cards, 67% said they would adopt a solution if given support.

Now, MSME owners can simply activate U Accept within the uGrow app to accept contactless payments including cards and pay-by-link, making digital acceptance more accessible and inclusive without the need to invest in additional proprietary hardware. As a customer-centric innovation, U Accept was designed around the realities of running a small business. Business owners and customers can use U Accept to transact with confidence and ease with the security, reliability, and dispute protections expected from Visa card payments. 

With U Accept, MSME users can also send digital receipts to buyers via email and check transaction history, which complements the uGrow app’s other features, such as sales monitoring and inventory management. The app also allows for near-real time settlement to users’ U Visa Prepaid Card.

“The Bangko Sentral ng Pilipinas (BPS) welcomes the launch of Visa Accept in the Philippines, underscoring its importance in accelerating digitalization of payments in the country. This marks an important step towards democratizing digital payments acceptance, with more Filipino MSMEs set to benefit from improving access to payment innovations. This collaboration supports the country’s broader digital transformation agenda and advances financial inclusion for more Filipinos throughout the country,” said Mamerto E. Tangonan, BSP Deputy Governor for the Payments and Currency Management Sector.

“The collaboration between Visa and UMSI is a game-changer for Filipino MSMEs, bringing payments innovation to where it can have the most impact to our communities. With Visa Accept, payments innovation is now within reach of every Filipino entrepreneur, unlocking many opportunities for small businesses through acceptance of secure, seamless payments from both Filipino consumers and tourists traveling to the Philippines,” added Jeffrey Navarro, Visa Philippines Country Manager.

“With Visa Accept, the uGrow app has become the perfect digital accelerator for the modern Filipino entrepreneur. Through uGrow, UMSI creates an ecosystem where small business owners and retailers have secure, more reliable ways to manage their business without the complexity of traditional enterprise systems. This innovation also complements our commitment to serve the unbanked across urban centers and remote areas, helping them shift seamlessly to digital, cashless transactions,” highlighted Jose Xavier Gonzales, UMSI President and Chief Executive Officer.

The collaboration builds on Visa and UMSI’s shared commitment to support the government’s vision of transforming the Philippines. In 2025, the two organizations announced a strategic partnership to launch Visa Direct, enhancing outbound money movement capabilities and providing business owners and customers with secure, fast, and convenient cross-border payment services.