May 06 2013

CARDBANK and TelUPay sign MOU for a PILOT Mobile Financial Solution (MFS)

(In photo from left) Founder/Director Perseverando Hernandez, CMIT President Edgar Cauyan, CARDBANK President and CEO - Dolores Torres, and TelUPay COO Rosette Carrillo.

(on top from left) CARDBANK Assistant Vice-President for Operations Ronnie Fallega, TelUPay Business Development Head Marlon Portugal, and CTO Adrian Ocampo.

CARDBANK Inc., the Philippines' first microfinance NGO to transform into a bank, has recently signed an MOU for a PILOT Project with TelUPay. The Pilot on TelUPay's Mobile Financial Solution (MFS) provides CardBank with its own branded mobile application allowing CARDBANK account members to conveniently do their financial transactions via mobile phones using any SIM. Members will be able to do balance inquiries, pay their loans, pay their bills, do cash-in and cash-out transactions and buy airtime to load own and others' phones anytime and anywhere.

The Contract Signing event was held at the CARDBANK Head Office in San Pablo City, Laguna on May 6th 2013. Present on the occasion were CARDBANK President and CEO - Dolores Torres, CMIT President - Edgar Cauyan, CARDBANK Assistant Vice-President for Operations Ronnie Fallega, and TelUPay Officers: Founder/Director Perseverando Hernandez, COO Rosette Carrillo, CTO Adrian Ocampo, and Business Development Head Marlon Portugal.

The Pilot is expected to be completed by June 2013 and will be available for use in some selected key Centers of CARDBANK. When fully commercialize, the CARDBANK mobile application would also include transactions such as fund transfer and domestic remittance which will cater to a wider reach of areas nationwide.

TelUPay is excited about this project and looks forward to working with and supporting CARDBANK in its microfinance and community-based social development undertakings. Both are convinced that a CARDBANK mobile application will definitely bring further financial awareness and convenience to the people with little or no access to a financial institution.

TelUPay also powers the mobile banking services of top commercial banks in the Philippines as well as the MBS of an ATM Network Provider.

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