KAYA 2.0 provides improved digital banking to cooperatives
MANILA, Philippines — Cooperatives may now have an improved digital banking experience as the National Confederation of Cooperatives (NATCCO) and the Philippine Federation of Credit Cooperatives (PFCCO) introduced KAYA 2.0, an upgraded version of the bills payment software.
Cooperative federations NATTCO and PFCCO have teamed up with KAYA, a coop-owned, -led, and -governed payment platform, since 2016.
KAYA allows contactless transactions through automated teller machines (ATM), mobile, over-the-counter, or Point of Sale.
In a joint statement released Tuesday evening, NATTCO and PFCCO unveiled that the enhanced KAYA will enable members to transact with the mobile app using iOS and Android devices, open a KAYA account with a quick self-registration procedure through a mobile phone, link to existing co-op savings account, log in using registered mobile number, apply for loan and facilitate loan collection from members, pay bills faster, enable members for Social Security System and Pag-IBIG, and support members’ businesses by permitting them to be “member merchants.”
NATCCO and PFCCO said that they will remain committed to give more capabilities to their members.
“KAYA will be the way not only to connect the cooperatives in the Philippines but, in the future, also all the cooperatives in the world,” NATCCO Chief Executive Officer Sylvia Paragua said.
Earlier this year, KAYA bagged the 2021 Digital Growth Award for its efforts towards the World Council of Credit Unions’ Challenge 2025 goal: the digitalization of the global cooperative system.
KAYA, powered by Software Group, has been adopted in over 150 cooperatives with more than 400 branches and 75 ATMs nationwide.