Popeyes Boosts Operational Efficiency with Paywatch’s EWA Program

Thursday, November 7, 2024


Popeyes Philippines, a global fast-food brand renowned for its Southern-style fried chicken and Cajun-inspired cuisine, has partnered with Paywatch to offer Earned Wage Access (EWA) as a new employee benefit. This initiative represents a new-generation approach to enhancing financial support for its workforce.

Popeyes returned to the Philippines in 2019 and has quickly expanded to over 50 outlets nationwide. With a focus on modernization and digital transformation, the company’s commitment to innovation extends to employee welfare. In an industry characterized by rapid growth and high employee turnover, Popeyes aims to improve workforce well-being with EWA—a program that enables employees to access a portion of their wages before payday. This service provides greater financial flexibility for daily expenses and emergencies, helping to reduce reliance on short-term loans.

Enhancing Operational Efficiency Amid Industry Growth

As the demand for convenience food continues to surge, the Philippines' quick service restaurant (QSR) market is projected to reach $7.9 billion by 2026, driven by the fast-paced lifestyle and evolving preferences of Filipino consumers, according to Allied Market Research. To keep up with this anticipated growth, Popeyes is investing in operational efficiency through a workforce empowered by financial stability. With EWA, employees can access a portion of their earnings before payday without incurring debt or hidden fees. This immediate financial support reduces financial stress, translating to improved attendance, higher retention rates, and significant cost savings on retraining and rehiring, ultimately enhancing operational efficiency.

"Retaining employees effectively helps our company avoid productivity setbacks. We believe that implementing EWA will enhance our employees’ well-being, leading to improved productivity and higher retention rates.," said Ed Kintanar, Chief Finance Officer of Popeyes Philippines. "Paywatch’s expertise makes them the ideal partner to help us introduce this innovative benefit."

Empowering Employees Through Financial Flexibility

Globally, Paywatch’s EWA solution has been adopted by leading brands, including well-known food service companies. By partnering with Paywatch, Popeyes Philippines demonstrates its leadership in employee welfare within the local QSR sector. The initiative not only aims to boost employee satisfaction but also to optimize business operations by fostering a more resilient and engaged workforce.
"Paywatch is committed to advancing financial wellness across diverse sectors, including food service and retail," said Rowell Del Fierro, President of Paywatch Philippines. "We are excited to see the positive impact that EWA will bring to both employees and businesses, knowing it can enhance financial well-being while also improving overall operations."

By implementing Paywatch’s EWA program, Popeyes is setting a new benchmark for employee care in the fast-moving QSR industry, ensuring that its team is not only financially secure but also highly motivated to deliver exceptional service.

For more information about Paywatch,  visit https://www.paywatchglobal.com/




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GoTyme Bank, foodpanda launch loan program for MSMEs

Monday, November 4, 2024

GoTyme Bank Loan Program

GoTyme Bank and foodpanda have joined forces to empower micro, small, and medium enterprises (MSMEs) within foodpanda’s online food and grocery delivery platform. This collaboration offers partner vendors flexible financing for working capital, providing them the financial boost they need to sustain their businesses.

The loan program directly addresses the financing challenges faced by MSMEs in today's economic climate, characterized by rising operational costs and lack of access to funding.

It gives online food delivery entrepreneurs easy access to capital at competitive interest rates with a simple application and repayment process. The program also complements foodpanda’s existing “Negosyo Like a Panda” initiative, which offers business loans to partner vendors to fuel their business growth.

Championing Filipino MSMEs

GoTyme Bank, a collaboration of Tyme, a multi-country digital banking group, with members of the Gokongwei Group, is the country’s fastest-growing bank, with 4.5 million customers, having operated for less than two years.

foodpanda is a subsidiary of global food delivery leader Delivery Hero, an on-demand food and grocery platform headquartered in Singapore. It is committed to delivering customers their favorite meals quickly. Today it is the largest food and grocery delivery platform in Asia, operating in 11 Asian markets comprising thousands of restaurants across 400 cities. It was launched in the Philippines in 2014, and today delivers meals from curated local restaurants to food lovers nationwide. Currently operating in 150 cities and municipalities, the platform continues its expansion across the country.

This partnership aligns with GoTyme Bank’s mission to support Filipino entrepreneurs by bridging the credit gap for MSMEs, which form a growing portion of its customer base.

GoTyme Bank, together with foodpanda, empowers MSMEs to thrive by streamlining the loan application process and offering flexible repayment options. Through this partnership, foodpanda partner merchants can focus on their core operations while enjoying the convenience of paying more during peak seasons and less during lean times. This tailored approach helps MSMEs optimize their cash flow and achieve their financial goals.

“We are committed to leveraging GoTyme’s expertise in digital banking and MSME lending,” says Lhecks De Castro, foodpanda Philippines finance director. “Since majority of our partner vendors come from the MSME sector, our goal is to offer innovative and accessible loan products specifically designed for them. This partnership goes beyond digital inclusion for our MSME partners; it prioritizes their financial empowerment.”

GoTyme Bank President and CEO Nate Clarke says he appreciates foodpanda’s recognition of GoTyme’s dedication to supporting MSMEs. “Through this exciting partnership, we look forward to providing entrepreneurs with the crucial financial support they need to achieve their dream business,” he says.
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AI Tools for Education on Display as PowerSchool and REX Education Partner to Host International ‘Innovation in Education’ Summit in Metro Manila

Sunday, November 3, 2024


More than 130 education leaders from across the Philippines attend summit exploring the future of education and technology


PowerSchool, a leading provider of cloud-based software for K-12 education, recently announced the successful release completion of its Innovation in Education Summit held at Park Inn by Radisson in Quezon City in partnership with REX Education. The summit drew over 130 education leaders from across the Philippines to Metro Manila to discuss best practices for the use of PowerSchool Schoology Learning and to learn about the future of education with AI, including PowerSchool’s AI assistant, PowerBuddy.

"We were delighted to partner with REX Education for this Innovation in Education Summit in Manila. In addition to sharing insights with leading educational providers from across the Philippines we were able to showcase personalised learning for every child with our Artificial Intelligence offering PowerBuddy,” said Stewart Monk, PowerSchool's Senior Vice President and General Manager, International. “PowerSchool is already supporting over 60 million students worldwide with its Schoology learning platform and the Innovation in Education Summit is an opportunity to showcase the future for education leaders in the Philippines, facilitate Al readiness, and build best practices in Manila and beyond."

The audience included educators and administrators from 70 schools across the Philippines who braved inclement weather from Typhoon Kristine to learn about how Schoology Learning can unlock the power of technology and data. In addition to presentations from PowerSchool representatives, the audience heard stories from PowerSchool customers who shared anecdotes regarding their successful implementation and use of Schoology Learning.

Presenters discussed the importance of improving education, particularly following poor Programme for International Students Assessment (PISA) rankings for the Philippines, in part due to COVID-19 learnings loss. Francis Jim B. Tuscano, EdTech Coordinator & CLE Dept. Chair at Xavier School-San Juan, stressed the importance of continued use of technological integration following the return to on-site learning. He mentioned Xavier School’s use cases with Schoology Learning including course management and delivery, student engagement and collaboration, assessment and grading, flexible learning options, parental involvement, and professional development for teachers.

PowerSchool presentations included demonstrations of products including Power School Connected Intelligence K-12, PowerBuddy for Data Analysis, PowerSchool Curriculum & Instruction, MyPowerHub, PowerBuddy for Assessment, PowerBuddy for Custom AI, PowerBuddy for Engagement, and PowerBuddy for Learning. PowerSchool also shared its responsible AI principles including AI that is human-centered, fair and non-biased, and stringent data governance, privacy, and security.

For more information, visit www.powerschool.com/powerschool-ai/.
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EastWest Visa Platinum Triumphs at The Asian Banker Awards, Celebrated as the Best Cashback Credit Card


EastWest Bank’s Visa Platinum Credit Card continues to make its mark in the financial industry as it was recently recognized with the prestigious Best Cashback Credit Card award by The Asian Banker. This latest accolade highlights the bank's continuing success in providing innovative, consumer-centric solutions that offer unparalleled rewards and benefits to its customers.

The global pandemic shifted consumer behavior, especially in terms of shopping and dining preferences. Understanding this, and with the modern Filipino consumer in mind, the EastWest Visa Platinum Credit Card was refreshed to adapt to the rapidly changing financial landscape, reflecting the bank’s drive to meet the diverse needs of its growing customer base.

Jacqueline Fernandez, President of EastWest Bank, expressed her pride in the recognition, saying, “We are honored to receive this award from The Asian Banker, as it is a result of our tireless efforts in going further for our clients. As we celebrate our 30th anniversary, the EastWest Visa Platinum Credit Card is living proof of our excellence in providing top-tier financial products. It not only rewards cardholders with a robust cashback program but also brings convenience and lifestyle enhancements that our customers deserve. This is a significant achievement for us as we continue to innovate and respond to the needs of our market.”

A Card That Adapts to Modern Lifestyles

To keep pace with the changing times, the Bank enhanced EastWest Visa Platinum’s rewards program with key features like increasing its cashback rate for dining and department store spends from 3% to a whopping 8.88%. What’s more, it expanded the categories in which cardholders can earn 8.88% cashback to include online shopping, food deliveries, travel, fuel, and even utilities.

With a leading cashback rate of 8.88% on relevant categories and 0.30% cashback on all other spends, EastWest Visa Platinum has positioned itself as a premier lifestyle credit card. This is further reinforced with exclusive benefits such as up to Php 20 million in free travel accident and inconvenience insurance, year-round elite perks and a dedicated concierge service.

Mia Tamayo, Senior Vice President and Cards Business Group Head of EastWest Bank, commented on the success of the product’s recent enhancements: “With the evolving needs of our cardholders, it was clear that the EastWest Visa Platinum Credit Card had to adapt. Our recent refresh was designed to offer more than just rewards—it delivers a complete experience for cardholders, whether they’re dining, shopping online, or traveling. This award from The Asian Banker reaffirms that we’re on the right track in serving our market’s discerning needs.”

Driving Growth and Achieving Milestones

Since the relaunch, the EastWest Visa Platinum Credit Card has seen impressive growth, with a 216% increase in new card bookings and a significant upsurge in monthly billings. The card’s performance in categories like shopping, dining, and travel far exceeded expectations, reinforcing its strong alignment with the lifestyle preferences of EastWest’s target market.

For 2024 and beyond, EastWest remains committed to enhancing the customer experience through its digital initiatives, ensuring that its products continue to meet the financial needs of its clients.

As one of the leading banks in the Philippines, EastWest remains firm in its mission to offer a wide range of consumer and corporate banking services. With a focus on innovation and customer service recognized globally, EastWest has truly cemented and earned its place as a trusted financial institution for Filipinos seeking to achieve their financial goals.

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Solaire Resort North Unveils a Unique Kids Club for Family Fun

Solaire Resort North Kids Club

Solaire Resort North proudly announces the grand opening of its integrated resort, a premier destination designed for family fun and luxury. Located at the heart of Quezon City, Solaire Resort North aims to redefine family-friendly getaways with its state-of-the-art Kids Club, set to open soon.

The Kids Club is an innovative haven for children who prefer indoor play, featuring a 6-level play structure that includes a vibrant play village and a soft play area. Additionally, the Kids Club houses a purpose-built children bowling alley, promoting key cognitive abilities through engaging activities that spark creativity and teamwork.

Solaire Resort North Kids Club Bowling

Parents can enjoy peace of mind knowing their children are in a safe, stimulating environment. The Kids Club also includes two versatile rooms perfect for hosting birthday parties and gatherings. Equipped with cutting-edge audio and visual technology, these spaces ensure an immersive sensory experience for all attendees.

“Our mission at Solaire North is to create memorable experiences for families,” said Gianpietro Iseppi, SVP Resort Operations. “With the introduction of our Kids Club, we’re excited to provide a space where children can explore and have fun while parents enjoy all the amenities our integrated resort has to offer.”


Pricing for the Kids Club is designed to be accessible for families: 5 to 17 years can take part in all the exciting activities. Admission rate is Php750+++ for the first two hours of play, succeeding hour Php300+++. Adult Guardian pass, available at Php300+++ flat rate per entry to ensure every child has a safe and enjoyable experience.

Solaire Resort North invites families to book their stay and discover the unmatched hospitality and entertainment that awaits them. With the promise of an unforgettable vacation, children can enjoy a delightful time at the Kids Club, leaving parents free to indulge in the resort’s luxurious offerings.

Family time is even more exciting and memorable with every experience at Solaire Resort North. Enjoy exclusive rebates and savings with the “Book Early, Stay Longer and Save” offer. Book your stay now by visiting www.solaireresort.com. For more information, you may also call +63 8888 8888.

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New Manulife Global Retirement Report Sheds Light on the Preparedness and Financial Resilience of People in Asia as Longevity Increases

Saturday, November 2, 2024


● Report shows that majority of people in Asia fear they will need to postpone their retirement due to family responsibilities.
● With longer lives and potentially more years in retirement, taking concrete actions in financial planning, including use of digital tools and exploring sources of passive income, is critical during working years.


Manulife Investment Management globally released its Financial Resilience and Longevity Report. Findings in Asia, which includes Mainland China, Hong Kong, Japan, Singapore, Malaysia, Indonesia, Philippines, and Vietnam, revealed that consumers across the region continue to face financial challenges, despite some markets and demographics faring better than others.

In the Philippines, 67% of Filipinos expressed confidence in achieving their top financial goals, with many optimistic that their financial situation will improve over the next decade. However, 63% are concerned that insufficient savings may hinder their ability to build financial resilience. Additionally, 61% worry about unexpected medical expenses, and 37% are concerned about reduced income—factors that pose significant challenges to strengthening their financial security.

More than two-thirds of people in Asia are confident they will be able to achieve their top financial goal, which varies across markets and includes having enough saved for emergencies, managing or maintaining their current lifestyle, and enjoying financial freedom or security after retirement, but the older generations are in slightly worse shape, with those in their 50s and 60s less likely to have that confidence than their younger cohorts.

Amid rising life expectancy across Asia, the report explored the need to enhance financial resilience during working years, potentially allowing individuals to save more for retirement. Longevity trends are placing pressure on traditional family support systems, healthcare, and financial stability, especially as changing family structures leave many older adults without the multigenerational support that was once common.

Calvin Chiu, Head of Asia Retirement, Manulife Investment Management said, “With life expectancy rising throughout the region, it’s imperative that consumers begin planning earlier and more comprehensively. The report sheds light on how individuals in different markets can build financial resilience and prepare for a secure future. The retirement industry, along with governments and employers, play a critical role in supporting an aging population and helping consumers save and invest for their extra years of longevity.”

Financial Resilience Varies Across Asia

The report revealed that financial resilience is essential to navigating common obstacles such as debt, healthcare costs, and emergencies. Consumers across Asia recognized the importance of saving for retirement, yet many struggle to balance short-term financial needs with long-term goals.

On average only 39% of people across all age groups feel good about their finances today, but an average of 52% of respondents feel the situation could improve in 10 years’ time. However, top concerns that may affect their ability to build financial resilience include lack of or insufficient savings, unexpected medical expenses, and lack of or reduced income.

Other key findings in the Asia region include:

● Rising healthcare costs, inflation, and economic slowdown are top concerns, with over 70% of consumers in Japan and Singapore concerned with these external factors affecting their ability to build financial resilience.

● Most people in Asia rely on cash savings and bank deposits (63% - 71%), more than other financial products, to achieve their financial goals.

● Nearly two-thirds of consumers in Asia feel children are great investments who will provide for them as they get older. This causes concern for those who do not have family to care for them as they age, especially those closest to retirement.

Retirement Delays and Family Responsibilities

Similar to global trends, consumers in Asia expect to delay their retirement, especially as they continue to support both children and aging parents. Changing family dynamics in Asia, including declining birth rates and fewer multigenerational households, have added pressure to their financial planning.

Across all age groups, an average of 62% of people in Asia are afraid they will need to postpone their retirement because of financial responsibility for their family.

That said though, an average of 57% respondents who don’t plan to marry or have children are concerned about growing old without a spouse or children to look after their financial and well-being needs. To fill the potential financial gap, an average of 75% of people said they will save as much money as possible, and only 28% said they will invest in different financial products.

Digital Engagement and Financial Planning

Consumers in Asia are increasingly interested in digital solutions and financial planning tools to help them manage their finances. Engagement with digital platforms correlates strongly with better financial outcomes, with those who frequently check their retirement plan or engage with financial content online more likely to report being in good financial shape.

“Technology is playing a critical role in helping consumers in Asia better understand and manage their financial futures. For example, in Hong Kong Manulife has piloted a robo-advisory service to Mandatory Provident Fund (MPF) members. This service is designed to help them better understand their retirement investment and risk profiles, and make more informed decisions about their MPF choices,” said Chiu. “By leveraging personalized tools and data-driven insights, we aim to empower individuals to feel more secure about their financial lives, in partnership with plan sponsors, advisors, and third-party administrators.”

Financial Priorities and Passive Income Approaches in Asia

While pension schemes provide some level of financial support in retirement, people need to consider the longevity and inflation factors to assess whether their pensions could last their lifetime. A way to create a better safety net is through investments that could generate a steady stream of income even in retirement. For example, they can consider retaining their pension accounts after reaching retirement age and continue investing in the scheme.

For markets that have pension schemes:

● 35% in Hong Kong expect to rely on the Mandatory Provident Fund (MPF).
● 52% in Singapore expect to rely on the Central Provident Fund (CPF), a mandatory program.
● 36% in Indonesia expect to rely on the Financial Institution Pension Funds (DPLK), a voluntary program.

Some pension scheme providers offer income funds that regularly distribute dividends, allowing investors to receive an income every month while remaining invested in dividend-paying funds. There are also retail funds offering monthly distributions, where investors can gradually invest in suitable income funds before retirement based on their individual needs and risk tolerance. For instance, Manulife Investment Management and Trust Corporation has four unit investment funds (UITFs) that provide monthly income distributions through investments in portfolios of real estate investment trusts, preferred securities, Asia bonds and other global asset classes. The UITFs can be accessed for as little as Php1,000 through Manulife iFUNDS, a secure and easy-to-use digital investment platform.

Methodology

The Asia findings of the Manulife Financial Resilience and Longevity Report was from the Manulife Asia Care Survey 2024 that was conducted in January and February 2024 via online self-completed questionnaires in eight markets, including Mainland China, Hong Kong, Japan, Singapore, Malaysia, Indonesia, Philippines, and Vietnam. A total of 8,400 people, evenly split between men and women, aged 25 to 60 years old were surveyed. The 2024 Financial Resilience and Longevity Report for Asia is available online.

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Insular Foundation provides skills training to Haven for Women Residents

Wednesday, October 30, 2024

Haven for Women

The Insular Foundation provided skills training to the residents of Haven for Women to help them acquire practical skills and earn a living.

InLife’s corporate social responsibility arm sponsored a Training on Hairdressing and Nail Care Skills for the residents of Department of Social Welfare and Development – National Capital Region Haven for Women Residents in Muntinlupa City. The Insular Foundation also donated beauty kits complete with tools and supplies to help the women start home service or find jobs in salons.

The skills training was part of the three-year partnership between Insular Foundation, Haven for Women and Muntinlupa City Technical Institute (MCTI).

“Inaasahan namin na magagamit ninyo ang inyong natutunan sa aming handog na Skills Training and beauty kits on Hairdressing and Nail Care, upang paglabas ninyo dito sa Haven for Women ay mayroon kayong baon para simulan muli ng maganda ang inyong mga buhay,” said Ana Soriano, Insular Foundation Executive Director.

MCTI Operations Division Head Antonio Terrenal encouraged the women to use their new skills to gain livelihood. “Huwag nating sayangin ang ganitong pagkakataon na skills training na ibinigay ng MCTI at Insular Foundation. Kayo din ang aani ng pagsasanay nyo dito dahil magagamit nyo ito sa pagbabagong-buhay at paghahanap-buhay.”

Catherine Taleno, Social Welfare Officer III of Haven for Women, thanked Insular Foundation for supporting the government’s goal of empowering women. “The goal of Haven for Women is women empowerment so that our residents who are victims of gender-based violence can be productive members of their communities. Lubos po ang pasasalamat namin sa partnership na ito with MCTI and Insular Foundation. The government cannot do it alone. We need the assistance of our partners to achieve our goal,” she said.

One of the training recipients expressed hope that they can use their skills to earn a living. “Kahit hindi ako nakapagtapos ng pag-aaral ay nagpapasalamat ako kasi natuto akong gumupit. Sana ay huwag tayong panghinaan at mawalan ng pag-asa, at maging matagumpay tayong lahat.”
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