BPI launches VYBE app

MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) is expecting close to three million existing digital clients to download the newly launched VYBE, a one-stop lifestyle app that makes everyday digital transactions and banking more rewarding.

Frederick Faustino, vice president and head of digital partnerships and ecosystems, told reporters that the country’s second largest bank  has 5.6 million active online users.

“We want that to be part of our VYBE system as well. We expect at least half of our 5.6 million active users to download the app because there are several value propositions that we see in the app,” Faustino said.

VYBE, currently available only to customers with BPI Online credentials, has an e-wallet that allows clients to simply scan and pay via the QR code of any shop with a QR PH standee for secure and cashless payment transactions codes.

Clients can also send and request money from other VYBE app users for free.

Also, since this is powered by BPI, clients may move money to and from their BPI accounts for free. What’s more exciting is that clients can earn reward points for using BPI’s products and services, and these may be viewed and redeemed via the VYBE app.

“We want to give our clients a faster and more secure way to pay. As a welcome gift, they instantly earn 1,000 points in their VYBE app upon sign up,” Faustino added.

Aside from allowing non-BPI users to use the VYBE app, Faustino said the e-wallet could be used for cardless withdrawals starting next year.

BPI partner management department head Ryan Balce said the 171-year-old bank aims to further expand its digital ecosystem via its open banking system and various channels such as the VYBE. Balce said it aims to grow the volume of transactions processed by 28.2 percent to 100 million this year from 78 million last year.