Award-winning and leading challenger bank Rizal Commercial Banking Corporation (RCBC) has made online purchases more convenient than ever as it entered into agreements with payment gateway providers SwiftPay and Dragonpay. Online consumers and merchants now enjoy more options to make digital payments.
The latest step is part of RCBC’s commitment to fast-track digitalization in the country in line with the Digital Payments Transformation Roadmap led by the Bangko Sentral ng Pilipinas (BSP). RCBC customers can use their mobile banking applications to pay for online shopping, a feature encouraging more Filipinos to embrace digital banking and payments.
“We are happy to see RCBC as the first bank joining and integrating SwiftPay through its innovative one-click payments via mobile banking app,” said James Allan To, President of SwiftPay. To be optimistic that RCBC’s move is a fundamental surge towards a digital future, “We do hope that RCBC’s aggressive digital push will accelerate the adoption of this new innovative payment method in the country.”
“Dragonpay was founded with the goal of making e-commerce easily accessible by all Filipinos. We support RCBC’s vision of reaching out to the financially underserved through their DiskarTech mobile app. We believe this collaboration between Dragonpay and RCBC DiskarTech will make e-commerce even more accessible to Filipinos from all walks of life,” said Robertson Chiang, President, Chief Operating Officer and Chief Technology Officer of Dragonpay.
“What is most important about such partnerships is that there will be thousands of Philippines businesses that will benefit from this,” says Lito Villanueva, the Executive Vice President and Chief Innovation and Inclusion Officer of RCBC. The Philippines’ top FinTech visionary and thought leader expounded, “The emergence of e-commerce in the Philippines is an important event for thousands of mSMEs, and these partnerships are our gift to help businesses run by ordinary Filipinos to enjoy the fruits of a fast-developing digital economy.”
RCBC is the country’s most awarded bank that cement its position as a leading digital solutions provider. The bank is a three-peat and back-to-back winner of Asiamoney’s Best Bank for Digital and the Best Financial Inclusion App by the Asian Banker’s Financial Technology Innovation Awards, respectively. The bank is known for the first multi-lingual financial inclusion application RCBC DiskarTech in Taglish and Cebuano; the grassroots-based and bank-agnostic neighborhood payment network RCBC ATM Go present in all 82 provinces, and the country’s first phygital blended banking experience RCBC MoneyBela barangayan banking.
RCBC is one of the country’s fastest-growing banks, and the most awarded for its banking innovations. It is now the Philippines’ 5th largest privately-owned universal bank from 8th place in asset ranking in 2018. It accomplished and maintained this feat from 2020 to the present, even breaching the P1-Trillion asset mark by the end of June 2022 despite the COVID-19 pandemic and various investment activities by competition. RCBC’s continuing digital and business transformation further enhanced its value and reach. RCBC has now become the most awarded Philippines bank. Among its recognitions include a three-peat award as the Philippines’ Best Bank for Digital by Asiamoney, and back-to-back wins for Best Financial Inclusion App by The Asian Banker’s Financial Technology Innovations Awards.