The Foundation for a Sustainable Society, Inc. (FSSI) entered into a partnership with financial application AppendPay, developed by the Alliance of Philippine Partner in Enterprise Development (APPEND), a group of microfinance non-profits in the Philippines, and Multisys Technologies, a leading software solutions company.
Launched in 2021, AppendPay eases business processes and creates seamless transactions for APPEND’s 8.5 million participating microfinance members. It aims to expedite the process of approving and disbursing microfinancing for its members.
Envisioned as an all-in-one solution for microfinance, AppendPay functions as an aggregator of services that enables end to end processes of microfinance institutions (MFIs), with an embedded eWallet and loan and other financial services features. Plans to integrate an e-commerce marketplace called AppendPay Mall in the app is also underway, aiming to increase the reach of MFI’s products through the digital market.
FSSI’s support and financial investment will help AppendPay expand its outreach by engaging MFIs in its network and linking social enterprise partners through the AppendPay Mall.
The online system is a move forward to the digitization the microfinance sector and is aligned with FSSI’s goals of facilitating financial inclusion and supporting the growth of MFIs and cooperatives and their members.