Ownbank and Mastercard launch the newest debit card in the market that simplifies financial management and transactions
OwnBank, the newest mobile
banking app in the country, teams up with Mastercard to serve customers with
enhanced banking convenience, more rewarding card offers, and secure digital
transactions. This strategic partnership aims to foster financial inclusion and
is poised to introduce new and sophisticated solutions that empower individuals
and businesses across the country.
Despite cash being the primary payment method for Filipinos, authorities are urging an increased adoption of banking and debit cards, especially among the unbanked, to enhance financial inclusion. The country has witnessed a surge in digital-only banks and a preference for electronic payments, driving growth in card payments. According to a GlobalData study, the country’s cards and payments market was valued at over $45 billion last year, with an expected CAGR surpassing 7 percent from 2023 to 2027.[1]
OwnBank and Mastercard join
forces to create a seamless banking experience for Filipinos. Combining
OwnBank's commitment to financial inclusion and Mastercard's global payment
expertise, the collaboration offers Filipinos
expanded digital payment options, global transaction acceptance, enhanced
security measures, integrated app features, and more.
Start the year right with OwnBank and Mastercard
OwnBank and Mastercard's
collaboration expands digital payment options, enabling customers to access a
wider array of digital financing solutions with Mastercard's technology for
secure, efficient, and convenient online transactions.
OwnBank through Mastercard
will provide its users access to numerous international merchants and ATMs,
thereby increasing transactional flexibility and convenience. OwnBank's
existing services will be integrated with Mastercard's digital solutions, offering
customers a comprehensive suite of financial services for managing
transactions, transferring funds, and growing savings, all within a unified and
streamlined banking environment.
Revolutionizing the debit card experience for Filipinos
OwnBank, in partnership with
Mastercard, is launching a virtual and physical debit card that offers its
users an enhanced debit card experience with unparalleled flexibility. The
features of the OwnBank debit card include:
● Free Debit Card: All OwnBank users will receive a virtual debit
card. Furthermore, users who have fully upgraded their OwnBank accounts and met
certain criteria are eligible for a free physical debit card, which will be
conveniently delivered to their doorstep.
● Contactless Payment and Enhanced Security: The card features
convenient contactless payment options and enhanced security with advanced EMV
technology.
● Security Features: OwnBank offers a suite of options for enhanced
control and security. Users can freeze their card, set transaction limits, and
reset their card PIN directly through the OwnBank app.
● Unified Card and Account Number: The OwnBank Debit Card uniquely
combines the user’s card number and bank account number, simplifying financial
management and transactions.
● Personalized Payment Experience: OwnBank allows users to
personalize their payment experience with editable payment settings and card
number customization. This enables users to tailor their money management
according to their preferences.
Upcoming features and promotions
The OwnBank Virtual Debit Card
is set to launch in the first quarter (Q1) of 2024, followed by the Physical
Debit Card in the second quarter (Q2) of 2024. Stay tuned for an array of
exciting features and exclusive promotions from OwnBank, including unique
functionalities of the upcoming debit card and irresistible deals and offers.
OwnBank recently launched in
the local banking scene in October 2023 as the
one-stop destination for Filipinos in search of an all-encompassing and more
rewarding mobile banking service. It is BSP-regulated and PDIC-insured for
banking with peace of mind.
Catch the latest updates from OwnBank. Download the app today on App Store, Google Play Store, or Huawei AppGallery to elevate your mobile banking experience. For more information, visit OwnBank's official website at www.ownbank.com or follow them on social media at Facebook, X, and Instagram.
About OwnBank
OwnBank
is the incarnation of financial excellence, setting the benchmark for modern
banking in the Philippines. OwnBank is actively revolutionizing the financial
landscape of tomorrow with its dedication to innovation and customer
satisfaction.
From seamless mobile banking to comprehensive and more rewarding financial product offerings, OwnBank provides a diverse range of services, all aimed at empowering Filipinos and businesses alike.
[1] https://www.globaldata.com/store/report/philippines-cards-and-payments-market-analysis/
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