Private companies and organizations have collaborated on providing the government with an alternative encashment facility for its social amelioration program. In a statement on Friday, the Rizal Commercial Banking Corp. (RCBC) announced that it had signed a memorandum of understanding with the Rural Bankers Association of the Philippines, MASS-SPECC Cooperative Development Center, National Confederation of Cooperatives and CIS Bayad Center Inc. to form “Damayang Sambayanihan: Hatid-Ayuda sa Kababayan.” They formed an operational plan to provide an alternative option to quickly disburse the government’s over-P200-billion emergency subsidy to over 18 million low-income families through the use of RCBC’s pocket and mobile automated teller machine (ATM), known as ATM Go. The Yuchengco-led lender said ATM Go was among its digital facilities capable of accepting BancNet debit and prepaid cards issued by any financial institution supervised by the Bangko Sentral ng Pilipinas.
