RCBC enhances flexibility of credit card users

MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) continues to provide enhanced flexibility and empowerment for credit card users via its latest innovation UnliPay.

RCBC Credit Cards president and CEO Arniel Ong said the Yuchengco-led bank continues to innovate its credit card features, shifting simple payments to comprehensive financial solutions to align with the changing consumer landscape and behavior.

“We want RCBC credit cards to be more than just a shopping companion.  Our cardholders should be able to enjoy financial flexibility whenever and wherever they need it. For this reason, we have UnliPay,” Ong said.

As of end July, there were close to one million RCBC Credit cards in force.

UnliPay enables cardholders to use their RCBC Credit card to pay any seller or professional services provider via real-time funds transfer using the RCBC Digital app.

The seller just has to provide his bank account/wallet name and number to the payor or cardholder.

Payments of as much as P300,000 could be sent by the cardholder and received by the seller in as fast as real-time.

UnliPay could also be used to pay for rent, association dues, utility bills, taxes, doctor’s fees and more.

Furthermore, RCBC credit cardholders could convert their UnliPay transactions for up to 36 months in installments with minimal add-on rate also through the RCBC Digital app.

Earnings of RCBC inched up by 1.4 percent to P6.22 billion in the first half of the year, fueled by higher gross revenues as well as the double-digit increase in its total loan book.

RCBC’s loan book grew by 13.9 percent to P576.77 billion as lending increased across all segments with both small and medium enterprises (SMEs) and consumer sustaining a faster growth of 18 percent.

Likewise, the credit card receivables of the Yuchengco-led bank jumped by 48 percent, while gross billings surged by 54 percent on the back of data-driven and personalized campaigns.

The bank’s deposit base expanded by 22 percent to P899.74 billion as current account and savings account (CASA) deposits grew by 17 percent amid the expansion to the retail and SME markets in areas outside Metro Manila.