Businessmirror March 09, 2019

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2018 EJAP JOURNALISM AWARDS

DEPARTMENT OF SCIENCE & TECHNOLOGY

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PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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A broader look at today’s business n

Saturday, March 9, 2019 Vol. 14 No. 150

P25.00 nationwide | 12 pages | 7 DAYS A WEEK

Multinational coffee maker rolling out mobile payment system to help farmers get paid faster, and in a more convenient and secure way.

THE Bukidnon coffee buying station. JASPER ARCALAS

M

By Jasper Emmanuel Y. Arcalas

form incorporated to their coffeebuying system. “We are shifting to a mobile platform—getting farmers paid anywhere and anytime,” Ella said in an interview with reporters at Nestlé’s buying station here last Wednesday. “It’s high time that farmers be equipped with new technology,” Ella added, while giving Manilabased reporters a tour of the multinational’s buying station.

ARAMAG, BUKIDNON— Multinational Nestlé Philippines Inc. (Nestlé) is banking on a mobile payment system to digitize its present coffee-buying scheme to make the process more convenient and provide farmers with more monetary options. After two years of development, Nestlé is now venturing into a digital platform to turn its payment system for farmers into a cashless and more convenient one.

Nestlé Assistant Manager Benedict A. Ella said they will roll out in the next crop calendar, running from October until June of next year, a mobile payment plat-

Globe as partner

THE coffee beans up close prior to the three tests done on them. JASPER ARCALAS

NESTLÉ partnered with Globe Telecoms Inc. to utilize the latter’s G-Cash mobile payment platform. “The physical presence required for farmers to go to a buying station and then to wait—they won’t be doing that anymore.” This is one of the benefits that

coffee farmers will experience with the adoption of a mobile payment system in Nestlé’s buying process, according to Ella. “Once they deliver [their produce], they can go home and they will get a notice through text or message that they have already received their payments in their GCash accounts,” he explained. With the use of a mobile payment system, farmers can withdraw their money from any G-Cash partners such as banks’ ATMs, pawnshops and other merchant stores, Ella said. One other reason for adopting a mobile payment system, Ella added, is the security of the farmers, especially when they are receiving cash or payment. For example, farmers can now Continued on A2

Banks can’t ignore emerging $23-T market for doing good By Jacqueline Poh | Bloomberg News

W

HEN British housing association London & Quadrant needed a £100-million, or $132 million, loan last year, its bank offered something unusually generous: A discount on interest if L&Q met an annual target of helping 600 unemployed residents find work. Eight months later, L&Q, which builds and rents out affordable housing in London, is already more than 75 percent of the way there, putting it on course to unlock savings from its lender, BNP Paribas SA. While it’s hard to imagine the

world’s profit-driven banks offering incentives for doing good, corporate lending tied to some measurable sustainability metric—like cutting emissions or reducing food waste—surged eight-fold in 2018 to $36.4 billion, according to Bloomberg NEF.

PESO EXCHANGE RATES n US 52.1600

“If this catches on, it is going to be the next big investment opportunity. Banks need to adapt to this new suite of opportunities this shift creates.”—Czyż

There always seems to be a catch in finance, and while this time is no different, it may be more palatable. The fact is that people are now investing more than $23 trillion in socially responsible ways, according to the Global Sustainability Investment Alliance, and lenders can’t ignore them if they want to stay relevant.

Shift

L&Q builds and rents out affordable housing in London and surrounding areas. SIMON DAWSON/BLOOMBERG

“IF this catches on, it is going to be the next big investment opportunity,” said Kajetan Czyż, the program director for sustainable finance at the University of Cambridge’s Institute for Sustainability Leadership. “Banks need to adapt to this new suite of opportunities this shift creates.” In a few years, banks that fill their loan books with so-called positive-incentive deals could be better placed to not only attract clients, like sustainability conscious millennials, but also lower funding costs. See “Doing Good,” A2

n JAPAN 0.4674 n UK 68.2044 n HK 6.6447 n CHINA 7.7696 n SINGAPORE 38.3248 n AUSTRALIA 36.5537 n EU 58.3305 n SAUDI ARABIA 13.9097

Source: BSP (March 8, 2019 )


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