Running a brick-and-mortar shop is a unique and fulfilling challenge, one that keeps you on your toes and deeply engaged. From managing suppliers to hiring a strong team and keeping customers happy, there’s always something important to tackle. The days are packed with moving parts, and it’s rarely as neat as a 9-to-5 job, but that’s part of what makes it so rewarding. Fortunately, you don’t have to get everything right every single time. Suppliers can be changed, less-ideal hires can be trained, and many customers can be quite forgiving. In most instances, striving to be excellent will already take your business to heights you never dreamed of.
However, there is one area where you cannot afford to make mistakes. Payments are quite tricky, even in the best of times. When you delve into cashless payments, things can get even more complicated. However, with more Philippine customers now preferring cashless for in-store purchases, it may be time to rethink your payment processes and technologies.
Credit card terminals, in particular, are shaping up to be a major friction point in physical stores, especially when businesses stick with old-fashioned types that only accept swipe cards. Outdated credit card terminals not only slow down transactions and cost you more in fees, but they can also lead to system vulnerabilities and hold back your ability to scale.
It’s easy to overlook your terminal as long as it “still works.” But when customer expectations are high and margins are thin, it’s time you choose a credit card terminal that gives you a lot less to worry about. If you want faster service and more financial flexibility, it may be time for a modern solution like Maya Terminal from Maya Business. Here’s why that switch can pay off, both literally and operationally.
1. Accept All Major Cards, Digital Wallets, and QR Ph in One Device
If you’re juggling multiple terminals just to accept Visa, Mastercard, GCash, Maya, GrabPay, and other payment options, it’s definitely time for a change. The Maya Terminal lets you process all major card brands and digital wallets through one sleek device, including cards with tap-to-pay (NFC or Near Field Communication) and dip-to-pay (EMV) capabilities. The Maya Terminal can also process QR Ph payments from all compliant banks and e-wallets, further simplifying payments for both you and your customers. As a bonus, having one terminal that does it all lets you rid your counter of clutter, making for an even better customer experience.
2. Lower Transaction Fees and More Savings
Providers of older terminals often demand restrictive MDRs (merchant discount rates), especially for digital wallet-based payments. Maya Terminal offers one of the most competitive MDRs in the market, and you can save even more with Maya’s 1.50% MDR discount on all QRPh payments. Not only will you enjoy faster transactions, but you’ll also save much more with each dip or tap.
3. Quicker Settlement Times
Many traditional terminal providers still take up to 7 to 14 days to settle card payments. Anything can happen in 7 days and, if you own a growing store, you’ll always want to have as much cash on hand as possible to cover all sorts of business contingencies. Maya Terminal users enjoy T+1 settlement for QR payments and competitive timelines for card transactions, ensuring a healthy cash flow that keeps up with your operations.
4. Gain More Control of Your Business’s Finances
Legacy terminals are often teeming with interface and security issues at the backend. Even worse, stores that use legacy payment technologies are often forced to use multiple dashboards, adding to the complexity of daily payment processing.
With Maya Terminal, you have access to Maya Business Manager, an all-in-one dashboard for tracking sales, generating automated reports, and managing your other Maya solutions. With this extra visibility, you can make better decisions without waiting for your bookkeeper to reconcile every receipt.
5. Future-Proof Your Store for the Digital Economy
While cash is still king, Philippine consumer habits are changing fast. Credit and debit card purchases are projected to make up 22% of all payments by 2028, alongside the continued rise of other cashless methods like digital wallets and QR payments. An older terminal might not be equipped to handle this added volume, leaving you with unsatisfied customers.
With Maya Terminal, you’ll be able to handle the Philippines’ ongoing digital transformation, well into the future. Maya offers consistent updates to its platform and services, ensuring you’ll never get left behind.
Enjoy Seamless and Secure In-Store Card Transactions with Maya Business
As more Filipinos adopt cards for in-store payments, your business must step up to provide the speed and security demanded by today’s retail consumers. With its expertise in modern electronic payments, Maya Business is the right choice for your business’s next card terminals. Sign up for Maya Business to enjoy effortlessly secure in-store checkouts as well as access to complementary solutions like Maya Plugins for Shopify and WooCommerce websites.
Signing up for Maya Business also entitles you to a Maya Business Deposit account for settling your payments. With an industry-leading 2.5% per annum interest rate, your Maya Business Deposit account can earn PHP 25,000 per year for every PHP 1 million deposited. It also unlocks free transfers via InstaPay and PESONet, saving your business cash on daily transactions with partners and suppliers.
Lastly, within 3 months of signing up, you will qualify for a Maya Flexi Loan offer of up to PHP 2 million. Funds from your Maya Flexi Loan can be used to optimize your store layout and so much more. Simply use Maya as your primary processor for all wallet and card payments to enjoy better terms and loan offers the next time around.
Sign up for Maya Business today and start processing payments efficiently both in-store and online.
