MICROFINANCE PROVIDER Center for Agriculture and Rural Development Bank, Inc. (CARD) has introduced automated teller machine (ATM) withdrawals using smartphones.
In a press statement released Monday, the bank said it launched the cardless service in its Maharlika branch in San Pablo City, Laguna on June 1.
Under the system, a client must just download the konek2CARD mobile application, which generates a QR (Quick Response) Code that is used for withdrawing money.
The application can be used in place of the Matapat ATM Card and over-the-counter transactions for a Pledge savings account.
Aside from withdrawals, it is also applicable for checking the account balance and transaction history, bills payment, insurance, loans, buying a load for mobile phone service, and transfer funds.
CARD President and Chief Operating Officer Marivic M. Austria said the initiative is one of the key products that they are adopting to expand financial inclusion.
“We are proud of this innovation and this is a manifestation of our never-ending journey to financial inclusion through technology,” said Ms. Austria.
“We are very happy because gradually our clients find the technology relevant and convenient to use,” she added.
CARD Bank is part of the CARD Mutually Reinforcing Institutions (CARD MRI), a group of 21 institutions that aim to eradicate poverty through microfinance and community-based development programs. — Carmelito Q. Francisco

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