BanKo partners with ECPay to expand touchpoints

BPI Direct BanKo, Inc., A Savings Bank, the microfinance arm of listed Bank of the Philippine Islands (BPI), has partnered with Electronic Commerce Payments Inc. (ECPay) to help increase access to financial services for microentrepreneurs and underserved communities.

“This collaboration strengthens BanKo’s efforts to promote financial inclusion by tapping into ECPay’s robust payment network,” BPI said in a statement on Monday.

Through the partnership, BanKo clients can make loan payments at over 300,000 over-the-counter partner locations nationwide, including pawnshops, convenience stores, malls, sari-sari stores, supermarkets, and remittance centers.

They can also access ECPay services through its 1,314 kiosks nationwide, as well as over 10,000 non-ECPay self-service kiosks.

BPI said this will expand available touchpoints for transactions with more than 100 digital collection partners.

“Our partnership with ECPay allows us to bring essential financial services even closer to everyday Filipinos — especially the self-employed micro-entrepreneurs. With ECPay’s wide network, it’s now even more convenient for our clients to settle their loans on time. By making payments easier and more accessible, we’re helping them stay on track financially…,” BanKo President Rodolfo K. Mabiasen, Jr. said.

“We are proud to partner with BanKo in advancing financial inclusion across the country. By connecting BanKo’s services to our extensive payment network, we are helping to bridge the gap between traditional banking and underserved communities. This collaboration is a step forward in making financial services more accessible, convenient, and impactful for millions of Filipinos,” ECPay President and Chief Executive Officer Ma. Patricia de la Fuente-Pascual said.

BPI’s net income increased by 9% year on year to P16.6 billion in the first quarter.

Its shares closed unchanged at P135.90 apiece on Monday. — A.M.C. Sy