Foodpanda, Agribank to offer partner riders affordable motorcycle financing

Online food delivery services have become a popular way of having your meals — and even your groceries — delivered right to your doorstep. The sector has also become one of the top sources of income for many Filipinos as more and more people embrace food delivery.

To help address the needs of its partner riders, leading online q-commerce platform foodpanda teamed up with Agribank, one of the country’s leading rural banking institutions, to provide accessible and flexible motorcycle loan options for its partner rider fleet.

“The collaboration is definitely one that will elevate the game in the country’s gig economy. For us at foodpanda, we want to be known not just as a delivery platform that provides livelihood opportunities to Filipinos, but also one that puts the welfare of its partner riders as a priority — such as offering competitive benefits to them,” said Foodpanda Philippines Operations Director Patricia Jacinto.

With the help of both companies, Ka-Panda partner riders can now get motorcycle units from a wide range of motorcycle brands and enjoy low monthly installments with exclusive discounts. In addition, partner riders can easily apply for a motorcycle loan through AgriBank’s online portal without going through a tedious manual process.

“We are glad to be working with Foodpanda in this project that will benefit and create an impact in improving the lives of their riders. We have also made our deposit products available to these partner riders as part of our advocacy to serve the unbanked market so they can place their hard-earned money in a savings account that will help them advance their financial goals in the future,” said Agribank President Danny Boy Antonio.

Sharing Agribank’s goal of financial inclusion for all, Jacinto explained that “with this program, [riders> no longer need to show a paystub or go through a stringent process, which is often the case when applying for a motorcycle loan.”

Photos from Foodpanda

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