Microenterprise Access to Banking Services and Rural Bankers Association of the Philippines (MABS-RBAP), a combined effort that provides technical assistance and training to rural banks in the Philippines, and Globe Telecom’s G-Xchange Inc. (GXI), a telecommunications and mobile banking company, recently launched an automated teller machine (ATM) card that will give microfinance banking clients expanded access to ATMs throughout the country. This FaceCard is tied to GCash accounts, which are mobile phone banking accounts that allow clients to access their funds and perform transactions remotely.
In 2004 the combination of MABS-RBAP and Globe Telecom’s GXI created the mobile platform GCash to allow rural banks’—including microfinance banks’—clients to access their accounts and perform transactions on their phones. Subscribers are able to use their mobile phones to perform bank transactions between their mobile accounts and their bank accounts through text messaging SMS. Possible transactions include: deposits, withdrawals, loan payments and remittances.
With FaceCard, customers who could previously only retrieve cash from their mobile accounts at Globe Telecom’s 18,000 partner bank locations can now also withdraw funds from 9,000 ATMs throughout the Philippines. The ATM card also doubles as an identification card, and users can customize its appearance with personal photographs or other images. Nine banks in the Philippines will offer the FaceCard to GCash clients.
By John Howard-Smith, Research Associate
About Rural Bankers Association of the Philippines (RBAP): Established in 1955, the Rural Bankers Association of the Philippines (RBAP) is an incorporated association of rural banks operating under the guidance of 15 directors whose goal is to promote rural development. RBAP’s mission is to support the ability of its members to offer quality banking services to their constituencies, to comply with regulatory requirements and to promote the welfare of the communities in which they operate. It does not list financial information on the MIX Market.
About Microenterprise Access to Banking Services (MABS): Microenterprise Access to Banking Services (MABS) is a microfinance service provider that offers technical assistance and training to rural banks in the Philippines. The service was initiated by Rural Bankers Association of the Philippines (RBAP) to allow these banks to use modern technological tools to increase the financial services available in the microfinance sector. In return, the banks agree to focus a portion of their resources on assisting microenterprise clients. MABS is commonly referred to as MABS-RBAP due to its relationship with RBAP. MABS does not list financial information on the MIX Market.
[1] MABS: “Rural Bank FaceCard ATM card powered by GCASH and issued by GXI”, http://www.rbapmabs.org/home/index.php/mabs-approach-training-and-technical-services/courses-and-training-offered-as-part-of-the-full-mabs-technical-assistance-package/RB-GCASH-ATM-card
MicroCapital’s Microfinance Universe profile: Rural Bankers Association of the Philippines (RBAP), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=The+Rural+Bankers+Association+of+the+Philippines+(RBAP)
MicroCapital’s Microfinance Universe profile: Microenterprise Access to Banking Services (MABS), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microenterprise+Access+to+Banking+Services
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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