Higala, RCBC to drive financial inclusion

Inclusive instant payments platform operator Higala Group Inc. has teamed up with Yuchengco-led Rizal Commercial Banking Corp. (RCBC) to operationalize an open payments platform that expands digital financial access to the unserved and underserved sectors in the Philippines.

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SynerFi was created to help rural banks and microfinance institutions (MFIs) offer their customers digital transactions through InstaPay, bringing banking services directly to their communities and fostering broader financial inclusion.

Under the partnership, Higala will provide the technology that powers SynerFi, enabling rural banks and microfinance institutions to connect seamlessly to a digital payments network.

RCBC, on the other hand, will act as the sponsor platform bank and manage the essential regulatory requirements, such as compliance, clearing and settlement.