DAVAO CITY September 8, 2916 — Two of the top officials of Finland-based Tapp — an alternative payment platform that caters to those who do not have credit cards — visited Davao City on Wednesday and Thursday to show that it is safe here despite the September 2 Roxas night market bombing.
Tapp Chief Operating Officer (COO) Jukka Tapio Järvenpää of Finland and country director Hervé Jean Alfieri of France immediately made arrangements with Business Development Lead for VisMin Sly Maranga to fly here when they learned about the blast, which killed 14 people and injured scores of others.
The two said they felt safe during their stay, although they noted that not too many people seemed to be out in the streets.
Alfieri, who has been to Davao City a number of times, said he also noticed that the police seemed to be working in the background this time.
Järvenpää, for his part, said their visit was intended to show their confidence in the government’s peace and order program.
The two visited Tapp agents in Davao City along with Maranga and VisMin regional sales officer Noel Secretaria.
They also dropped by the MindaNation office in the afternoon for some coffee.
No credit card? No problem
Tapp is a payment system in which a buyer can purchase goods and services online without the use of a credit card.
All one has to do is download the Tapp app to find available goods and services. From the app, one can find Tapp agents who can receive payments in cash.
The agents, for their part, use the app to remit the payment through the same app which they had pre-loaded with cash credit. Tapp and the agent both earn a small commission on each transaction.
Järvenpää and Alfieri said the system is particularly suited for the Philippines where less than 5% of the population have credit cards.
Even debit card penetration stands at a low 20%, Alfieri said.
Järvenpää also said he Tapp’s business model is a perfect fit for President Rodrigo Duterte’s focus on small- and medium-scale industries (SMEs), which make up more than 90% of the country’s business establishments.
Meanwhile, Alfieri said Tapp Philippines continues to grow at an accelerated pace, seeing a 56% increase in turnover between June and July and a staggering growth of 100 % between July and August.
“We have successfully extended our outreach to areas outside of the National Capital Region, most noticeably to Mindanao which is the most Southern region of the Philippines,” Alfieri said.
“Integrating the inputs of our existing merchants to build a more comprehensive product portfolio has also been one of the keys to our success.”
In addition to expanding to new areas and streamlining the product portfolio, Alfieri emphasized the value of teamwork and dedication: “Our business development team has worked extremely hard. Their passion to fight for financial inclusion and help communities is staggering. The results speak for themselves,” he said.
Learn more about Tapp here.