GLOBE Fintech Innovations Inc. (GFII), operator of the electronic wallet GCash, has joined a dozen financial technology (fintech) firms based in Asia in the launch of “Programme Sirus.”
In a statement issued from Tokyo, Japan, last Tuesday, Ant International Pty. Ltd. announced that GFII is one of 13 Asian fintech firms that signed it for the program whose acronym stands for “Sustainability Innovation for Regenerative & Inclusive Purpose.” The statement added that the program seeks to “empower” micro-sized, small-sized and medium-sized enterprises (MSMEs) “in their transition towards sustainability, in line with the United Nations Sustainable Development Goals.”
According to Ant International, “Programme Sirius” is an “industry-led knowledge initiative that aims to support MSMEs operating on digital platforms in their journey towards sustainability.”
“It will foster open industry dialogues where like-minded industry partners can exchange ideas on sustainability innovations and share best practices to support MSMEs on their sustainability journey, helping their transition into a low-carbon economy, advancing their accessibility to sustainability financing, and uplifting MSMEs with new growth opportunities.”
Ant International added that the International Finance Corp., the private sector arm of the World Bank Group, will collaborate with the Singapore unit of the Ant Group “to develop and promote a set of Digital Sustainability Impact Management Toolkits in the next two years.”
“These toolkits aim to empower MSMEs to adopt environmentally and socially friendly practices to improve MSMEs’ access to sustainable finance through digitalization while driving the entire economy towards a low-carbon development path,” the statement read.
At the launch, 13 industry partners from 11 economies have committed to be part of “Programme Sirus.” These are: Alipay Hong Kong Holding Ltd. (Hong Kong SAR, China), ANEXT Bank Pte. Ltd. (Singapore), Bigpay Malaysia Sdn Bhd (Malaysia), bKash Ltd (Bangladesh), DANA by PT Espay Debit Indonesia Koe (Indonesia), GCash (the Philippines), Hipay LLC (Mongolia), Kakao Pay by Kakao Corp. (Republic of Korea), MPay by Macau Pass S.A (Macao SAR, China), TNG Digital Sdn Bhd (Malaysia), TossPay by Viva Republica Inc. (Republic of Korea), True Money Co. Ltd. (Thailand) and Zalopay by VNG Corp. (Vietnam).
“We always talk about financial and digital inclusion, but sustainability inclusion for MSMEs is becoming one of the most pressing challenges,” Ant International Chief Sustainability Officer Leiming Chen was quoted in the statement as saying. “As these merchants play an increasingly important role in the global and local economies, there is a need to provide them with the right mindset, knowledge, and resources to take climate action. Given the complexities of the task, ranging from taxonomy and governance framework to cost and education, it requires collective effort across public and private sectors, industries, and markets to drive this change.”
“MSMEs are the backbone of any growing economy. With this, GCash has become their bridge to digital by providing essential tools—transforming the way they do business. We remain committed to helping Filipino MSMEs achieve progress through democratized financial services, especially with easy access to credit,” GFII President and CEO Martha Sazon was quoted in the statement as saying.