Our pilot bizmoPay program has rapidly expanded in the past few weeks with more than 150 bizmoto agents now trialling our non-bank micro-enterprise loan offering.
We have experienced significant demand from our bizmoto agents to be part of the initial three-month pilot program and we are diligently working our way through dozens of additional applicants who want to be admitted to the program.
We also have far-exceeded our original expectation of securing 100 loan recipients to the end of September by writing up 150 bizmoPay micro-enterprise loans. An emerging trend is that agents who receive bizmoPay loans are increasing their transactional volume across the bizmoto ecosystem of services.
CEO Chris Kain said: “I’m incredibly proud of our team in the Philippines. Despite the challenges of COVID, our team is working tirelessly to ensure that our three-month trial program is delivering on its objectives.”
“The demand for our micro-enterprise loans has proved extremely high so it’s important that our systems are 100% seamless before we start offering our loan program to our 55,000+ bizmoto agents and every registered bizmoto network member who qualifies and undertakes to promote the wider adoption of bizmoto services and drives the use of the wider bizmoto ecosystem.”
“An important objective of our bizmoPay program is to establish a community of agents that experience unique value, that are loyal to the brand and who transact frequently. We call this community ‘Planet bizmoto’ and they will be crucial to the longer-term profitability of the bizmoto ecosystem.”
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