Visa , a global player in digital payments, has launched a debit issuing program with fintech infrastructure provider M2P Fintech and CTBC Bank (Philippines) Corp. to accelerate the digital transformation of rural and thrift banks across the Philippines. This initiative aims to expand access to secure, modern banking services for more Filipinos, helping drive financial inclusion and support broader economic growth through easier, more reliable and secure digital transactions.
The collaboration harnesses the strengths of Visa’s global payments network, M2P Fintech’s technology infrastructure solutions, and CTBC Banks banking license to enable rural banks to issue physical and digital Visa debit cards cost-effectively. With this “issuance-in-a-box” framework, Visa removes complex infrastructure barriers that have prevented smaller rural banks from rolling out card programs for to their customers.
According to the Bangko Sentral ng Pilipinas (BSP), there are more than 24.2 million deposit account holders in rural and cooperative banks, and 9.7 million account holders in thrift banks in the country[1]. Meanwhile, data from the Rural Bankers Research and Development Foundation Inc. (RBRDFI) shows that rural and cooperative banks accounted for 1.9 percent of total asset volume of the Philippine banking system, while thrift banks accounted for 6.1 percent[2] in 2024.
Rural and cooperative banks also play a crucial role in countryside development, with 17% of their total loan portfolio extended to the agriculture sector – the highest among all types of banks in the country.
Through this Visa debit issuing collaboration, enrolled rural banks will be able to enhance security and fraud prevention for their consumer cards with Visa’s risk and identity solutions, such as Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM). Through Visa Resolve Online (VROL), rural banks will also gain access to Visa’s dispute resolution tool, streamlining the way disputes with rural banks are filed, processed, and resolved. This means that consumers served ++by rural banks will benefit from enhanced security and faster and more transparent dispute resolution, helping build trust and expand access within the formal financial system.
“With this collaboration, we advance Visa’s long-standing commitment to financial inclusion and innovation in payments for the country’s rural and thrift banking sector. Together with M2P Fintech and CTBC Bank, we’re extending the reach of Visa’s trusted global network — enabling more Filipinos to access secure, seamless digital payments and participate in the digital economy. This is about unlocking opportunity and shared prosperity for communities across the Philippines,” said Jeffrey Navarro, Visa Philippines Country Manager.
“In line with our mission to deliver innovative financial solutions for businesses, banks, and fintechs across the region, we are focused on enabling the digital transformation of rural banks in the Philippines. By integrating technology with strong settlement and operational support, we aim to help these institutions enhance efficiency and better serve their customers,” said Madhusudanan R, Co-founder, M2P Fintech.
“We are proud to support this industry collaboration to help digitize Philippines rural banks – an important segment that cater to underserved sectors such as agriculture and MSMEs. In the coming months, we hope to enroll rural banks in this initiative and build momentum toward a more digitally empowered rural banking system,” said CTBC Bank President and CEO Luis S. Elizaga.
