Seeing the time-consuming payment process of traditional wholesale markets and the public security risk of carrying cash, Bank SinoPac continues to communicate with the market management unit and merchants, and looks into their transaction system and operating procedures. Bank SinoPac created the Smart Wholesale Market Transaction Facilitation Platform in 2016 and issued multi-functional merchant cards and distribution cards for agricultural products, and overdraft line of credit. It links the cash flow in merchants' accounts to the wholesale market's electronic settlement system, automatically settles accounts and controls the transaction limit of merchants. Bank SinoPac's efforts to promote the transformation of how markets operate has made it the best partner for agricultural product transactions.
The Smart Wholesale Market Transaction Facilitation Platform not only drives the development of agriculture in Taiwan, but also realizes the vision for financial inclusion, providing financial services exclusive for wholesale market merchants who are relatively old and rarely do business with banks. This responds to SDG1 No Poverty by improving the lives of farmers and fishermen and jointly developing sustainable agriculture. The platform was implemented in 8 wholesale markets in 4 counties/cities, and cooperation modes were established with fruits and vegetables, fishery products, meats, and flower merchants. Bank SinoPac further expanded financial services to upstream suppliers and offered the Agroecology Promotion Credit Card exclusively for farmers. Bank SinoPac implemented the small farmers support program to provide advancement payment custody services. It provides farmers and consumers with convenient and secure innovative financial services.
To determine the social impact of Bank SinoPac in wholesale markets, SinoPac implemented a Social Return on Investment (SROI) evaluation project in New Taipei City Fruit and Vegetable Market, the first market the Company worked with, in 2020. The project found that: "Every NT$1 invested by Bank SinoPac can generate NT$6.17 in social value." For the calculation of SROI.