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Talino, Chemonics Invests in Startup Higala to Pioneer Inclusive Instant Payments in the Philippines

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Global sustainable innovation venture studio Talino Venture Studios and sustainable development firm Chemonics International has launched and seed-funded Higala, the pioneer Inclusive Instant Payment System (IIPS) startup in the Philippines.

As an IIPS, Higala will be a financial superhighway connecting banks and microfinance institutions to payment networks, reducing switching and on-ramp costs.

“Higala will help modernize our country’s digital financial infrastructures and enable the participation of financial institutions through our network. Our goal is to make banking more inclusive, especially to the underserved segments of the population with limited access to traditional banking services,” said Vice Catudio, President and CEO of Higala.

To provide context, 18 out of 400 rural banks in the Philippines are part of InstaPay, which shows a need for interoperability among these banks. This hinders financial inclusion, depriving many Filipinos of modern banking technologies.

Higala promotes financial inclusion by enabling affordable real-time payments and providing inclusive financial solutions to the underbanked. Additionally, it helps financial institutions become digital banks through white-label app services.

The startup is backed by Bangko Sentral ng Pilipinas (BSP), Rizal Commercial Banking Corporation, Xendit, FinTech Alliance.Ph, and the Rural Bankers Association of the Philippines, among many others.

Written by
Tech Beat Philippines

Tech Beat Philippines is the social media news platform for all things technology. It is also a part of the GEARS section on Daddy's Day Out.

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