OwnBank partners with Mastercard, introduces new era of seamless and secure banking transactions for Filipinos

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]

Newest mobile banking app OwnBank offers Filipinos the highest savings interest rate yet, up to 8% per annum

Banking with peace of mind— OwnBank is BSP-regulated and PDIC-insured, the one app for all your financial needs 

In time for Filipinos’ Christmas bonus and 13th month pay, newest mobile banking player, OwnBank, sets foot in the market to offer local users its next-generation, all-in-one financial services, with the highest savings interest rate yet of 8% per annum. OwnBank seeks to enhance every Filipino’s money management effectively by supercharging their funds with more rewarding and secure financial solutions.

As the Banko Sentral ng Pilipinas (BSP)’s Digital Payments Transformation Roadmap advances to financially include 70 percent of the Filipino adult population with banking/e-money accounts, local leaders urge banking and financial industry players to help capture the 50 million Filipinos who are still financially excluded and lack basic tools for digital transactions.