TECH retailer Upson International Corp. has expanded the accepted payment methods for its products as customers can now use Sodexo digital vouchers across its 200 retail stores in the country.
Upson President and Chief Executive Officer Arlene T. Sy said that being a partner merchant allows the company to tap over 2 million consumers served by Sodexo nationwide.
“Sodexo is a leader in corporate gifting and employee rewards. Being their partner merchant furthers our strategy to make shopping with us easy and convenient. It also allows us access to over 2 million consumers that Sodexo serves across the country,” Ms. Sy said in a statement.
“At Upson, we bring choices and options — all in service of the Filipino. That includes offering customers even more ways to pay,” she added.
Sodexo digital vouchers Mobile Pass and Sodexo+ are now accepted across 200 Upson stores, including Octagon, Micro Valley, Gadget King, Octagon Mobile, and concept stores Acer (Gaisano Mall of Davao and Robinsons Place Isabela), HP (Glorietta 2 Makati), Brother (SM North EDSA and Limketkai Mall Cagayan de Oro), and Silvertec (SM North EDSA).
Aside from Sodexo, Upson retail stores also accept various payment options for in-store customers such as cash, credit and debit cards, and electronic wallets such as GCash, Maya, GrabPay, and ShopeePay. Consumer loans via Home Credit are also offered in selected stores.
Previously, Upson announced the deferment of its planned initial public offering (IPO) to the first quarter of 2023. The company said the adjustment is aligned with the views of its underwriters First Metro Investment Corp., and RCBC Capital Corp.
The tech retailer’s supposed target listing date was Oct. 14, with the public offer scheduled on Oct. 3 to 7. It will offer 888,157,800 common shares priced at P5.50 per share.
Upson seeks to raise up to P4.34 billion from the IPO, which will be used to boost its store network and strengthen its supply chain and logistics. The company is aiming to open 250 stores from 2022 to 2026. — Revin Mikhael D. Ochave