Visa inks MOU with Thames International, PH city for MSME digital payments push

Baguio City has 19,874 micro enterprises.

Visa has signed a memorandum of understanding with Thames International and the City Government of Baguio for the digitalization of micro, small, and medium enterprises (MSMEs) in the Philippine city.

This five-year Digital Partnership Program by Visa Government Solutions aims to help MSMEs in Baguio City by driving acceptance of digital payment modes, supporting innovation, sharing knowledge, and offering marketing guidance.

As of August 2023, Baguio has 22,121 registered businesses, of which 19,874 are micro-enterprises.

The partnership includes initiatives to support MSME innovation and payment digitalization, enhance data insights, and upskill MSMEs in the digital economy.

It aims to facilitate connections with technology providers and banks and ensure financial inclusion.

The program will also develop a data-first tourism strategy, host workshops on data trends, and use Visa Destination Insights for policy development. Visa Destination Insights provides detailed spending and visitation data through interactive dashboards and reports.

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