Visa and UMSI have introduced U Accept, a new payment innovation designed to help micro, small, and medium enterprises in the Philippines accept contactless card payments using eligible smartphones. This aims to make digital payments more accessible for small businesses while supporting the country’s wider financial inclusion efforts.
How U Accept Works
U Accept is powered by Visa Accept and is integrated into the uGrow app, UMSI’s digital platform for entrepreneurs and small businesses. By turning a smartphone into a payment acceptance device, U Accept removes the necessity for traditional point-of-sale terminals and helps lower the barriers that often keep smaller merchants from adopting digital payments.
MSMEs and the Digital Payments Gap
MSMEs are central to the Philippine economy, making up more than 99% of all business enterprises and generate 67% of total employment in the country. Despite their importance, many small businesses still face obstacles to accepting card and other digital payments, including hardware costs, lengthy onboarding, and limited awareness of available tools.
Research on Card Acceptance Benefits
Visa’s research suggests that card acceptance can deliver clear benefits for Filipino small businesses. Among SME owners who were surveyed, 83% reported higher turnover after accepting card payments, while 41% said customers spent more when they paid by card. The same research also found that 67% of those not currently accepting cards would adopt a solution if they were given support.
Features and Capabilities
With U Accept, MSME owners can activate the service directly within the uGrow app and begin accepting contactless payments, including cards and pay-by-link. The system offers security, reliability, and dispute protections associated with Visa card payments, while avoiding the cost of added hardware. The app also lets users send digital receipts by email, review transaction history, monitor sales, manage inventory, and receive near-real-time settlement to their 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.”
– 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.”
– 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.”
– Jose Xavier Gonzales, UMSI President and Chief Executive Officer
Vision Behind the Partnership
The new launch builds on a 2025 partnership between Visa and UMSI that introduced Visa Direct to enhance outbound money movement and provide secure, fast, and convenient cross-border payment services. Together, the two companies are working toward a more inclusive digital payments environment for Filipino consumers and merchants.
You can download the uGrow app via Google Play.
Frequently Asked Questions (FAQ)
Q: What is U Accept?
A: U Accept is a payment solution that lets eligible smartphones accept contactless Visa card payments and other digital payment methods for MSMEs.
Q: Who can use the new service?
A: The service is intended for micro, small, and medium enterprises in the Philippines.
Q: Does U Accept require a traditional payment terminal?
A: No. The solution is designed to remove the need for traditional point-of-sale terminals.
Q: What other features are included in the uGrow app?
A: The app includes digital receipts, transaction history, sales monitoring, inventory management, and near-real-time settlement.
Q: Why is the launch important?
A: It is meant to help more Filipino MSMEs join the digital economy and support the country’s financial inclusion and digital transformation goals.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
