Homegrown fintech startup NextPay has teamed up with with local online-to-offline (O2O) payments provider Ayannah to allow customers to disburse funds to unbanked recipients.
The partnership enables small businesses to send money to their employees, suppliers, and customers through almost 10,000 partner remittance centers nationwide. NextPay users may send money to a single individual or do batch disbursements to several recipients.
“We understand that a majority of our population are still unbanked with only three out of 10 Filipinos owning a bank account. Even with the pervasiveness of eWallets, a huge part of the population still does not have access to basic financial services,” Don Pansacola, chief executive and co-founder of NextPay said.
“NextPay aims to serve them by allowing unbanked recipients to receive funds through the nearest remittance centers in their area,”he added.
Aside from offline remittance, NextPay has also introduced various digital financial solutions since it secured fresh funding in the first half of 2021.