UnionBank eyes Cebu-based firms as co-branding partners

CEBU, Philippines – The universal banking arm of Cebu-based Aboitiz group of companies has started to tap Cebu-based companies to partner with the bank’s co-branding through the UnionBank Visa credit card initiative.

Manuel Santiago Jr., Union Bank of the Philippines (UnionBank) senior vice president, said that UnionBank is proud to have, as its first-partner, also a Cebu-grown company, Cebu Parklane International Hotel (Parklane).

“Parklane is our first partner in Cebu, and the second one is fast coming,” he said on the sidelines of the signing of the memorandum of agreement for its partnership with Parklane.

Santiago said co-branding with affinity or organizations and companies is UnionBank’s niche in the credit card industry.

“When we entered the credit card business, our aim was really to grow the business, and we thought (of strategies), something new to offer to our clients,” he said.

UnionBank assistant vice president and marketing head, Mags Varquez said this co-branded Visa credit card bears both the names of UnionBank and its partner-company and functions like any other Visa credit card.

The only difference is that UnionBank designs an incentive or point-system package, like a company’s loyalty card, that is unique to a client, in line with their operation or nature of business. These points are awarded to a company’s patron when he or she uses the credit card in transactions with UnionBank’s company-partner.

For instance, with some of its partner-universities and schools in Manila, UnionBank has designed a system wherein holders, alumni of the school, are able to donate a “certain amount” to the university, every time the holders use the credit card.

Varquez said that for Parklane, UnionBank is giving the hotel’s patrons the option to pay their transactions with Parklane on installment basis for a “minimal interest.”

The UnionBank Parklane Visa credit card will be launched on August 27 in Cebu. (FREEMAN)