Financial technology startup Traxion Tech has succesfully developed a cardless teller machine for its network solutions arm CoopNET which can be accessed completely using a smartphone and system-generated QR codes to provide more options to underserved cooperatives and financial institutions in far-flung areas in the Philippines.
USAID, through its Better Access and Connectivity (BEACON) project, signed a partnership agreement with Connectivity Capital, the world’s first connectivity-specific impact investment fund, to support the expansion of Internet service to underserved and geographically isolated and disadvantaged areas in the Philippines.
But a report from the World Bank noted that the country’s Internet connectivity – the foundation of the digital economy – is limited in rural areas, and where they are available, services are relatively expensive and of weak quality.
