THE Philippine Crop Insurance Corp. (PCIC) said that indemnity payments for farmers may now be directly transferred to their GCash accounts.
In a statement on Sunday, the PCIC said it signed a memorandum of agreement with G-Xchange, Inc., to tap GCash’s Funds Disbursement Service for the release of indemnity payments to farmer-beneficiaries.
The PCIC added that this would no longer require farmers to visit PCIC offices to pick up checks.
It said that the tie up will streamline the PCIC’s payout system and advance the financial inclusion of rural areas.
“This partnership with GCash marks a transformation on how we will deliver our services to farmers, especially in the manner of distributing indemnity payments,” PCIC President Jovy C. Bernabe said.
He added that the platform would also allow farmers to manage their finances, giving them cashout options and access to online payments and micro-financing.
The PCIC covers farmers, fisherfolk, and livestock raisers who sustain losses from natural calamities, diseases, pest infestation, and other risks.
The PCIC has a target of covering 1.2 million farmers, 21,000 livestock raisers, as well as fisheries stakeholders. It processed 744,000 claims in 2023. — Adrian H. Halili
