MOA with CARD Banking Group as settlement bank
CARD Banking Group inked an agreement with AppendPay in
promoting financial inclusion in the country on March 22,
2021. In the photo are (L-R) CARD Bank President and CEO
Marivic M. Austria, CARD MRI Founder and Chairman Emeritus
Dr. Jaime Aristotle B. Alip, CARD MRI Rizal Bank Inc.
President and CEO Elma B. Valenzuela, and CARD SME Bank
President and CEO Aristeo A. Dequito.
March 23, 2021
SAN PABLO CITY – 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.