Microfinance clients of Philippines-based Card Bank can now complete ATM withdrawals without their bankcard, following the launch this month of a cardless cash machine in a San Pablo City branch.

To withdraw funds, account holders need only a QR code generated by the Card Bank konek2Card mobile application installed on their mobile device, a press release said.

The new banking initiative is another milestone in the bank's microfinance operations, Card Bank President and CEO Marivic Austria said. "We are proud of this innovation and this is a manifestation of our never-ending journey to financial inclusion through technology."

Austria said clients initially were hesitant to use the technology. "The reactions are valid, but all of these are part of the innovation we are bringing," the CEO said. "We also understand because for the very long time our clients are used in doing traditional banking transactions. … We are very happy because gradually our clients find the technology relevant and convenient to use."

Card Bank is a member of Card Mutually Reinforcing Institutions, a group of 21 Philippine institutions that aim to eradicate poverty through microfinance and community-based development programs.