Transforming the Credit Union Sector in the Philippines
In 2017, the National Confederation of Cooperatives (NATCCO) launched the KAYA Payment Platform, a cloud-based payment service in cooperation with Software Group. The initiative is a partnership among NATCCO, the Philippines Federation of Credit Cooperatives – National and the Asian Confederation of Credit Unions (ACCU).
The project targets over 6 million people and enables the credit unions to expand on the range of services available to their members, generate additional revenue, and increase member share value. KAYA is presently adopted in more than 150 cooperatives in the Philippines, with an increasing number of new organizations implementing this technology.
The platform is an effective and easy-to-use solution to have a mobile account, send or receive money, pay bills, top up mobile talk time, and use a card for performing transactions at any ATM in the country. The main motivation of the NATCCO network and PFCCO in adapting KAYA is to fully enable the cooperatives to serve as a hub for all financial services.