BPI Direct BanKo, a subsidiary of Bank of the Philippine Islands (BPI), aims to onboard 100,000 sari-sari store owners through its newly launched e’Nay app within a year.
The app has already facilitated over 70,000 account openings, and BanKo expects to activate all these accounts by the fourth quarter.
By November or early next year, the app will introduce “special loans” allowing users to order and purchase inventory using approved credit lines ranging from P5,000 to P25,000.
BanKo envisions reaching a loan volume of at least P15 billion by the end of 2023, serving approximately 250,000 clients through the app.
The e’Nay app connects micro-retailers to distributors and wholesalers, with Ultra Mega Supermarket as its initial partner.