The EMI licence authorises the company to deliver e-wallet services through its bizmoto mobile app allowing any Filipino, not just bizmoto agents, to use the platform to receive digital money and access digital services.
The EMI licence extends the company’s opportunity to reach micro-entrepreneurs and provide digital payments for their businesses. They also can apply for bizmoPay loans, purchase bizmoProtect micro-insurance policies, and future bizmoto platform products and services.
The company plans to start work on a pilot program with a local community to facilitate financial inclusion by encouraging members to become bizmoto users so they can immediately access digital and mobile payments as an alternative to cash transactions within their community.
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