The Philippine Crop Insurance Corporation (PCIC) and GCash operator G-Xchange Inc. have partnered to deliver a faster and more efficient payout system for insured farmers. Through a memorandum of agreement, indemnity payments will be deposited directly into farmers' GCash wallet accounts in real-time, eliminating delays associated with physical checks. This collaboration aims to empower farmers by introducing them to the digital ecosystem of GCash, enabling them to save, invest, and access microfinancing tools.
THE Philippine Crop Insurance Corporation inked an agreement with GCash operator G-Xchange Inc. to streamline indemnity payments to insured farmers.
“Your commitment to this partnership demonstrates our shared goal of empowering the agricultural sector through innovation. Together, we are paving the way for a more resilient and financially inclusive future for our farmers and fisherfolk,” PCIC President Jovy C. Bernabe was quoted in a statement as saying.
The agency noted that a key advantage of this partnership is introducing farmers to the digital ecosystem of GCash, “enabling them to save, invest, and access microfinancing tools for resilience and financial growth.”
AGRICULTURE FINANCIAL TECHNOLOGY INCLUSION PAYMENTS PHILIPPINES
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