Manila, Philippines – UNO Digital Bank, the digital bank regulated by the Bangko Sentral ng Pilipinas’ Digital Banking License framework, has partnered with payment solutions company Mastercard, to issue digital and physical Debit Mastercard cards in the Philippines.
The virtual cards aim to make it easy for customers to transact online, and the physical card can be used at points of sale at retail outlets or any Mastercard, Maestro, or Cirrus ATMs worldwide. Moreover, the new physical Debit Mastercard will have exciting security features that are designed to mitigate fraud and empower cardholders to prevent the misuse of their card. Cardholders will also have access to Mastercard’s curated selection of Priceless experiences and everyday merchant offers that will allow them to stretch their money further.
Manish Bhai, UNO Digital Bank’s CEO, shared that Filipinos are embracing digital payments, and their partnership with Mastercard honours their promise to deliver simple solutions to the customers.
“Moreover, as a credit-led bank, we are also building a payments ecosystem. In our business partners, such as with Mastercard, we seek those with a similar mindset to our own: a mission to deliver innovation with simplicity. Stay tuned as to how we innovate the debit Mastercard card for our launch in Q2,” said Bhai.
Meanwhile, Simon Calasanz, Mastercard’s country manager for the Philippines, commented, “Mastercard is honoured to work with innovative partners like UNO Digital Bank who are paving the way to financial inclusion in the Philippines. Mastercard debit cards are designed to meet evolving consumer needs, and make everyday payments safe, simple, smart, and accessible.”
Vivek Kumar, UNO Digital Bank’s head of loans, payments and ecosystems, noted, “We are building in features that will elevate the banking experience for UNO Digital Bank customers, and take our commitment to cardholder convenience and innovation to the next level.”
The bank will announce the debit card attributes when it launches later this year.
Most recently, UNO Digital Bank has just rebranded from its former name UNObank Inc. The rebrand reiterates the digital nature of the bank’s business. It also comes with a new visual identity for the company, which includes a new logo, an updated colour palette, and new iconography.