Enstack targets to grow PHL merchants, partners
SUPERAPP Enstack is aiming to grow its ecosystem of merchants and partners in the country as part of efforts to expand its presence and to help more small and medium enterprises (SMEs) digitalize their operations.
Enstack Chief Executive Officer and Co-Founder Macy Castillo told BusinessWorld via e-mail interview that the platform is focusing on providing solutions to underserved SMEs that wish to digitalize their daily operations.
“The app’s performance has exceeded targets and expectations both on merchant adoption and transactions. We plan to continue growing our ecosystem of highly engaged merchants and integrated partners in the next year while we consider various monetization options without shifting the large burden to our SMEs,” Ms. Castillo said.
“We are constantly onboarding more logistics providers to help us better serve our SME needs in different areas of the country, looking to add to our standard delivery partners,” she said, enumerating these as Ninja Van, 2GO, and same-day delivery partners Grab and Lalamove.
According to Ms. Castillo, Enstack currently has over 50,000 merchants and 25 integrated partners since it was launched in February, adding that demand for the platform has been increasing following the lifting of pandemic-related restrictions and as many businesses have yet to digitalize their operations.
She added that Enstack is aiming to launch in other Southeast Asian countries in the next 18 months while growing its presence in the Philippines and Vietnam.
“The growth of in-app transactions is far exceeding our expectations with the holidays fast approaching. Merchants in health, beauty, fashion, and food are the most popular, proving that our app addresses the needs of different types of small businesses,” Ms. Castillo said.
She said that Enstack is also helping merchants to address hesitancy towards digitalization via online workshops and caravans targeting SMEs.
“We continue to expand partnerships with private and public organizations including the Trade department and several local government units such as Muntinlupa and Pasig by hosting online workshops and on-the-ground caravans to help SMEs understand the value of starting their own business and future-proofing their operations through digitization,” Ms. Castillo said.
“Education remains to be the most important aspect to helping merchants overcome their hesitancy to digitization,” she added.
Enstack allows entrepreneurs to operate their businesses from their phones via Enstack Cashier, Chat Store, and Web Store. The platform also offers access to payment and delivery solutions such as cash on delivery, GCash, credit cards, same-day delivery, and standard delivery.
The platform also offers a streamlined signing-up process that only requires interested merchants to upload one ID, selfie, and proof of address, allowing them to bypass paperwork required by banks, payment processors, and logistics providers.
“Startups like Enstack have the potential to contribute greatly to the growth of the economy by providing innovations and services that address market needs. To harness this opportunity, we are focused on providing small businesses [with] best-in-class commerce and business management tools that minimize their need for capital, skills, and infrastructure,” Ms. Castillo said. — Revin Mikhael Ochave