RCBC Bankard Services Corporation, the credit card arm of Rizal Commercial Banking Corp. (RCBC) won the Mobile Banking and Payments Initiative of the Year at Asian Banking and Finance (ABF) Wholesale bank prices 2021 and retail bank prices.
In presenting the award, ABF, the leading publication for banking and finance executives in Asia, recognized the unique and innovative features of the RCBC Online Banking app, specific to the features available to RCBC Bankard credit card holders.
RCBC Bankard President Arniel Vincent B. Ong said cardholders were able to manage their finances efficiently and conveniently with the special features of RCBC’s online banking app, especially payment. invoices and the conversion of purchases despite the pandemic.
“The pandemic has disrupted the way things are done. Nonetheless, RCBC Bankard quickly identified the concerns of cardholders and their business impact. In collaboration with RCBC, the issuing bank, we have set up this digital channel with easy-to-use features ”, said Ong.
“Our commitment to our customers is to continue to innovate to provide mobile and payment solutions that truly meet their needs and offer the best customer experience” he added.
RCBC Bankard’s online bill payment feature called Fast BillsPay allows cardholders to pay their bills such as utility bills and more using their credit card. What’s unique about this feature is that in addition to making one-time payments, cardholders can sign up for auto-billing agreements for these bills with RCBC partners so that payments recurring monthly payments are automatically billed to their credit card.
During the pandemic, RCBC Bankard has seen tremendous growth from this facility, with bill payment volumes increasing 2.5 times per year.
Purchase conversion, on the other hand, allows cardholders to convert direct purchases they’ve made at any merchant, including those purchased overseas or online, in three months – a zero percent payment or up to 36 months with minimal interest.
RCBC Bankard has noted an increase in the use of this feature over the past year, with over 80% of transactions now going through the app.
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