AppendPay signs MOA with CARD Banking Group as settlement bank
As part of its mission to provide financial inclusivity for all, CARD Banking Group signed a memorandum of agreement (MOA) with AppendPay through a virtual signing ceremony on March 8, 2021.
It was attended by CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle B. Alip, CARD MRI Managing Director Flordeliza L. Sarmiento, CARD Banking Group President and CEOs Marivic M. Austria (CARD Bank), Elma B. Valenzuela (CARD MRI Rizal Bank), and Aristeo B. Dequito (CARD SME Bank). Also present were AppendPay Corporate Founding Board Chairman Angel de Leon, Jr.; Append President Jeng San Juan; Bangko Sentral ng Pilipinas Representative Acting Managing Director Ellen Joyce Suficiencia; MNRC Corporate Governance and Finance Department Director Atty. Rachel Esther Gumtang-Remalante; and MCPI President Eduardo C. Jimenez.
Said CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle B. Alip, “Having the CARD Banking Group as a settlement bank of AppendPay has highlighted the collaborative environment that the microfinance industry has. The challenges brought by COVID-19 pandemic gave us the opportunity to push our digital initiatives to our clients and to their families.”
Dr. Alip explained how the CARD banking group and the microfinance industry served as the beacon of hope to the lives of many small microentrepreneurs during the community quarantines and lockdowns as they faced the challenges of continuing their businesses and microenterprises. “We saw how the health crisis really affect the lives of our clients, many businesses were forced to temporarily stop its operations but despite the pandemic we decided to continue our financial services in order for them to surpass the challenges,” he added.
As the whole world embraces to the new normal, CARD MRI envisions to continuously give financial access to recover and cope with the changes brought by the pandemic. “We’re looking forward for the good result of this collaboration. Through this partnership, we hope to further extend our services to millions of our clients. Digital platforms such as AppendPay and konek2CARD enable microfinance institutions to have an easy and convenient access to financial services.”
AppendPay is an online platform that aims to ease business processes and create seamless transactions for micro, small, medium and all other social entrepreneurs (MSMEs) through the assistance of CARD Banking group as their settlement bank.
“This collaboration is truly a remarkable moment for each of us. We, at APPEND, appreciate the effort of CARD Banking group as they open their doors for AppendPay to provide fast, easy, and convenient eCommerce channels to clients,” said AppendPay Corp. Founding Board Chairman Angel de Leon, Jr. during the MOA signing.
He concluded that the mobile application links APPEND members around the country and allows the app users to request and pay for the various loans, utilities and commercial services. Users can also transfer money to other AppendPay users.