Inforserve,
Inc. has designed a network – the Nationlink Network which hopes to ‘Link the
Nation and Transform Lives’ of the un-served, the poor, and the marginalized in
support of the Bangko Sentral ng Pilipinas (BSP)’s advocacy on ‘Innovative
Financial Inclusion.’ Inforserve, Inc. is registered and recognized since 1984
as an International Fintech Company in the Philippines, and currently, is
regulated and supervised by BSP as a ‘Non-Bank Financial Institution (NBFI).
The
Nationlink Network is grounded with its vision to bring financial inclusion
across networks and to be globally meaningful in transforming financial
transactions and making it relevant to everyday needs. It provides innovative
and accessible financial services thru modern card and mobile/web-based
financial, banking and payment services.
Nationlink
Network is dedicated to provide financial inclusion to the world’s financially
un-served and under-served population, especially, the poor, marginalized, and
migrant workers living in remote towns and villages by enabling and working
through ‘bottom-tiered financial institutions’ such as rural or village banks,
thrift banks, credit unions or cooperatives, savings and loan associations,
miscrofinance NGOs, and merchant agents that will transform lives and spur
economic developments in the country.
Nationlink
Network has grown significantly over the past 13 years in membership, size of
the TM network, card base and its financial condition to maintain its position
as the network provider for the marginalized and the unbanked. It has gained
the trust of the market and financial industry as well. Nationlink has now a
total of 47 existing subscribers all over the country, which include 24
cooperatives, 17 rural banks, 4 cooperative banks and 2 subscribers that are
soon to be online.
The
Philippines is one of the countries in the world with a long history of sending
workers abroad and ranks among the top three countries with the largest
recipient of remittances in the world. The role of overseas Filipino workers
(OFW)s’ remittances and its contribution/effect on economic growth and
development has been duly recognized. Data recorded cash sent home by OFWs
surged to an all-time high in December 2018 and clocked in full-year growth that
outpaced the BSP’s growth forecast.
But still, workers’ remittances have not been
properly utilized into productive and investment uses in the Philippines. Nationlink
Network’s objective is to lessen the cost of money transfer which is very
expensive in the Philippines. Nationlink gets its revenues from transaction
fees, but the goal of the company is to lower the transaction cost for the
people who remit a part of their earnings to family members.
With
Nationlink Network’s strong hold on its niche as the provider of financial
service to the countryside, rural and thrift banks, cooperatives, loans and
savings associations and micro-finance organizations are now able t provide
modern mainstream banking services such as ATMs and POS, money remittance
services, e-banking & e-commerce and mobile banking to their communiyties in
the countryside, by linking their institutions to Nationlink Network.
The
Nationlink E-Money Card is a reloadable, multi-purpose electronic value card.
This can be transacted through ATMs, Nationlink Cash-in and Cash-out Centers
and other POS devices. Contact Nationlink at Tel. No. (02) 892 0200. (Report Eton Concepcion / Photos by Lito
Caleon)
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