The Department of Agriculture-Agricultural Credit Policy Council (DA-ACPC) and tech company ICORE Technologies, Inc. solidified their partnership through the signing of a Memorandum of Agreement (MOA) for the Electronic Payment Collection System (EPCS) on November 22, 2024 in Pasig City.
This significant partnership aims to implement a streamlined and accessible digital payment system, empowering ACPC farmer and fisher-borrowers with convenient options to settle their loans. The EPCS allows payments through online payment gateways, over-the-counter services in banks and pawnshops, convenience stores, cash- in agents, and cash kiosks.
This innovation also strengthens ACPC’s collection efficiency, contributing to the sustainable growth of its loan programs. “This initiative is more than just about convenience; it’s about empowering our farmers and fisherfolk,” said ACPC OIC Executive Director Ma. Cristina Lopez. “By modernizing our payment processes, we ensure that government resources are used efficiently, enabling us to help more borrowers in the future.”
ICORE Technologies’ CEO and President Lorenzo Valdez expressed their commitment to driving digital transformation in public service. “We are honored to partner with the ACPC in this initiative. We are here to help ACPC address their challenges in collection efficiency while also making a meaningful impact on the lives of farmers and fisherfolk on the ground.”
The MOA signing was witnessed by key officials from both organizations, including ACPC’s Director Norman William S. Kraft, Fund Recovery Division Chief Jogee Garcia, and Information Systems Management Division Joel Matira and ICORE’s Chief Financial Officer Joseph Del Rosario, Business, Development Manager Rudy B. Mandap, and Business Development Consultant Tonyvic Sarte.
The implementation of the EPCS aligns with the Department of Agriculture’s strategy to modernize the agriculture sector. This partnership showcases how technology can bridge gaps and ensure inclusivity in government programs.
“Every peso collected goes back to the loan fund, allowing us to assist more farmers and fisherfolk who need capital,” Lopez added. “This partnership is a step forward in fulfilling our mission of providing efficient and innovative credit services to the agriculture sector.”
“We are are optimistic that this partnership can evolve to include not only the collection of loan payments but also the digital disbursement of funds to borrowers,” said Joel Matira.
For more updates on ACPC’s programs and initiatives, visit www.acpc.gov.ph.