eTap's Culture of Innovation: Changing fintech with in-house solutions and strategic growth

In a 2024 report by the Boston Consulting Group, while 83% of companies rank innovation as a top-three priority, only 3% are truly prepared to achieve their innovation goals. eTap, however, stands apart—fully equipped to deliver on its promise, ensuring its services seamlessly support the daily financial needs of its users.

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As the financial technology (fintech) landscape continues to evolve, eTap remains at the forefront by creating a company culture focused on enabling innovation to serve its users and partners better. At the core of eTap's culture of innovation is a commitment to developing solutions in-house, fostering an environment where every employee is empowered to share their ideas and contribute to meaningful progress.

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Even eTap’s machines speak to their preference for self-reliance and creating innovation for itself: its competitor’s self-service kiosks are often imported from China at two to three times the price, with no local maintenance support. In contrast, eTap Inc. provides these machines at competitive prices and offers full local management and maintenance, guaranteeing better service and cost efficiency.

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eTap Solutions President and CEO Carlo Hernandez emphasized that eTap’s preference for self-reliance and a strong technical foundation has been apparent from day one. “The company’s founders, Mr. Percy Hernandez and Mr. Marlon Portugal, are both engineers,” he explained.

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“Most of our core competencies are handled in-house, from cash management and cybersecurity to hardware, software, cloud management, and customer support.

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“This allows us to control the quality of our service and deliver seamless solutions across the board.”

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eTap’s services cater to various industries, particularly e-commerce companies like Foodpanda, where daily cash remittances are crucial. As Hernandez noted, riders from companies, including Foodpanda and Grab, now partner with eTap for cash handling, adding a layer of efficiency to operations. In fact, eTap currently serves about 30% of the cash on delivery (COD) and remittance needs of the e-commerce market.

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Innovation, in-house

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However, it is crucial to recognize that servicing a diverse range of sectors would not be possible without innovation. For eTap, innovation starts with its Transformation Department headed by Baron Dimaranan.

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“The department basically makes sure eTap progresses on the tech side.

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“With eTap's current infrastructure, we've made significant improvements both internally and on the customer side, enhancing the tools our staff use and the way we engage with our customers, ultimately improving everyday operations,” Dimaranan explained.

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One key factor enabling the success of the mentioned department at eTap is the smooth collaboration between different departments. Because eTap's core teams—ranging from finance and business development to operations and customer service—are all in-house, they can work together effortlessly. This close-knit structure facilitates quick problem-solving, promotes easy sharing of ideas, and enables faster implementation of new solutions. It also ensures that the Transformation Department can drive changes efficiently, aligning internal processes with customer needs and ensuring flawless transitions across the board.

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The latter department has more than enough tangible results that demonstrate its impact. Dimaranan shared that his team has revamped eTap’s customer relationship FreshDesk portal, guaranteeing a more efficient way to handle customer concerns. Internally, they have automated the Finance Department and implemented a customer relationship management (CRM) system for business development, creating a seamless workflow that helps teams serve partners better.

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The eTap website is now also updated to include a kiosk locator, which allows customers to find the branches of eTap’s store partners easily. This feature not only improves convenience for customers but also drives foot traffic to partner stores.

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New innovations

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New updates like the kiosk locator on the company’s website go hand-in-hand with eTap’s latest innovations on the ground.

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A standout improvement has been the automation of financial transactions with ePuhunan, a service that guarantees next-day bank deposits for end-of-day cash sales—even for cash-heavy businesses, such as pharmacies and bake shops that banks often neglect due to their perceived small customer lifetime value.

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Launched in the third quarter of 2024, the idea for ePuhunan stemmed from an eTap visit to Butuan, where store partners struggled to deposit daily sales, often relying on risky methods or lacking access to banking services. ePuhunan was created to solve this.

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Hernandez expressed that quick approval for the development of ePuhunan was made possible thanks to eTap’s close-knit and innovation-focused culture. "We could have just stood by and watched our store partners struggle with their deposit issues, but headquarters acted quickly and approved the solution right away."

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eTap’s innovation extends beyond cash management, with the recent launch of ePromote, a digital out of home (DOOH) advertising platform. Unlike traditional media buys, store partners can now advertise directly on eTap’s screens, eliminating the need to invest in expensive hardware like televisions. With ePromote, businesses can reach over seven million impressions per month at competitive rates, further cementing eTap’s role as a key player in both fintech and digital advertising.

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"Our store partners actually approached us, asking if they could place ads on our screens.

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“Instead of investing in their own TVs, they saw more value in utilizing our ad space,” recalled Hernandez.

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Potential to expand

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Hernandez underlined that new innovations like ePuhunan and ePromote do more than just add convenience—they also open up new opportunities for businesses looking to expand.

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He said that ePromote, for instance, should be looked at as an add-on that can supplement wider advertising campaigns. ePromote will be particularly useful for expanding in Visayas and Mindanao, where eTap’s machines are strategically located in grocery stores, convenience stores, and pharmacies where people conduct daily transactions. Furthermore, eTap’s user base is equally diverse, serving primarily 18 to 42 year olds from class E to B.

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eTap today

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To date, eTap’s partnerships continue to grow, with brands like DALI joining forces due to shared values of affordability and convenience. After all, both companies serve demographics that prioritize reliability and cost-effectiveness.

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A culture of innovation and reliability thrives on open communication, a supportive environment, and a focus on partner needs. By prioritizing these values and maintaining agility—acting quickly and effectively—eTap fosters a workplace where ideas can flourish, and solutions are delivered with precision and efficiency. In turn, eTap’s users and partners get services that are reliable and evolve alongside their changing needs.

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"To create products that truly matter, we must continuously learn from both our partners and our colleagues, focusing on speed, a strong learning process, and unwavering support,” concluded Hernandez.

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In the future, eTap is poised to significantly expand its impact, with plans to deploy an additional 2,000 kiosks annually through 2027. This strategic growth is aimed at addressing the increasing demands of the digital economy and ensuring the efficient circulation of cash, reinforcing eTap’s commitment to meeting evolving market needs.

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Thumbnail by Benjamin Santos (Sr. Multimedia Designer)