Visa signed a debit partnership with Rizal Commercial Banking Corporation (RCBC), one of the largest universal banks in the country, enabling RCBC customers to transact with Visa’s network across millions of merchant locations in-store and online through Visa debit cards.
With Visa debit credentials, RCBC customers now have more secure, seamless ways to pay while maintaining the familiar control of transacting directly from their bank accounts. Across Asia Pacific, 48% of all card transactions for both face-to-face and remote/online payment methods are made through debit cards.
“By expanding the reach of debit payments, Visa helps accelerate the digitization of payments in the country. This collaboration aligns with the government’s vision of a cash-lite society, with Visa debit cards empowering RCBC consumers to make seamless everyday payments backed by Visa’ s technology and global acceptance” added Jeffrey Navarro, Country Manager for Visa Philippines.
“In an era where digital threats are evolving, security is not just a feature – it is the foundation. With Visa’s world-class security protocols and RCBC’s robust digital infrastructure, our customers can transact with absolute peace of mind,” highlighted Reggie Cariaso, RCBC President and CEO. “It also offers more choices and confidence in how our consumers pay wherever they are across the world.”
RCBC was one of the first issuers in the country to tokenize their card credentials when Visa launched Google Wallet and Google Pay in the Philippines last year in partnership with Google, the FinTech Alliance of the Philippines, the Banko Sentral ng Pilipinas, and the Department of Information and Communication Technology. RCBC has also previously launched Visa Direct for outbound cross-border payments, enabling Filipino consumers and business alike to make secure, real-time outbound transfers to billions of accounts across more than 190 countries and territories.
