The Rizal Commercial Banking Corporation (RCBC) is set to take inclusive finance to the next level as its financial inclusion super app DiskarTech partners with digital payments solution platform Digipay.
DiskarTech’s bid for financial inclusion by onboarding the underbanked and the underserved into the formal financial economy through digital banking continues with Digipay now among its roster of financial technology or fintech partners.
Digipay has long been an advocate of financial inclusion since its inception in 2017. It provides small businesses with a platform to grow their income through a network of partners that
includes sari-sari stores, internet cafes, pawnshops, mobile phone stores, and appliance stores.
By partnering with Digipay, DiskarTech users can access the platfrom’s wide network of over 21,500 partner agents and establishments nationwide that can be used for cash-in transactions. Digipay is also available in two of the biggest petrol stations in the Philippines.
Digipay President and Chairman Mark Frondoso describes their partnership with DiskarTech as symbiotic and extremely complementary in that it further expands the financial inclusion initiatives in the country.
“A DiskarTech—Digipay tandem will be able to connect an extensive unbanked consumer base and an established small business network with a financial powerhouse of a renowned conglomerate that has been instrumental in the growth of the Philippine banking sector for decades, hence, assisting in the acceleration of the BSP’s goals for the country,” he said.
RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva, meanwhile, emphasized the need for strong fintech partnerships in order to speed up the country’s recovery amid the pandemic and to spur post-pandemic growth.
“Expanding collaboration is important now more than ever. We are glad to be partnering with Digipay as we embark on the next chapter of pushing for inclusive finance post-pandemic,” he said.
About RCBC:
RCBC is a leading and award-winning universal bank accelerating digital transformation and expanding financial inclusion in the Philippines. It was judged as the Philippines’ best retail bank in the 2021 Global Banking and Finance Review Awards. It was named best digital bank in the Philippines by Asiamoney in 2020 and 2021 including by the Business Tabloid in 2021 and the Alpha Southeast Asia in 2020, among other global and regional recognitions. It is also the first local universal bank to have the most extensive reach with registered customers from across all 81 provinces nationwide through its mobile apps RCBC Mobile and DiskarTech. Its digital products include RCBC mobile and online banking, handheld ATM Go mobile point-of-sale terminals, and DiskarTech, among others. DiskarTech was recognized as the 2020 breakout finance app in the country by App Annie, a global data analytics firm covering all mobile applications worldwide.