GoTyme Bank Philippines, Bancnet, and Visa, formally announced a strategic partnership with to answer the need for convenient and accessible banking and digital payment solutions in the Philippines.
With the pandemic, cashless transactions have become the go-to as a way to stay safe. In 2021, a Consumer Payment Attitudes Study conducted by Visa has revealed that 14% of respondents used contactless cards to pay for their transactions for the first time in 2020, while 12%, led by Gen Z and and Gen Y age groups, said that they’ll be less likely to use cash after the health crisis.
What this means is that cashless payment forms like e-wallets, cards, and digital bank platforms will play an even more significant role in the transition towards a cashless Philippine society.
In this regard, Visa’s reach and expertise in digital payments synergize with BancNet’s extensive nationwide and offshore coverage, together with GoTyme Bank and the Gokongwei brand’s reputation, technology, as well as understanding of the Philippine market, will allow Filipinos to experience high quality banking along with an exciting and rewarding digital payment and money movement experience.
GoTyme Bank Debuts its Visa ATM Debit Card
During the event, GoTyme Bank also introduced its Visa ATM Debit Card which will be given out free to all GoTyme Bank Account holders via digital kiosks. Official availability is sometime around October.
This high-quality card lets you enjoy the benefits of Visa for transactions worldwide, including withdrawals from any ATM when traveling outside the country.
Powered by BancNet, the Philippines’ single ATM switch operator, GoTyme Cardholders can also transact on ATMs and POS terminals, the Internet, and mobile phones to access a wide range of services, including real-time fund transfers and payment of purchases by direct debit to account via InstaPay.
GoTyme Bank was awarded its Certificate of Authority to operate as a digital bank by the Banko Sentral ng Pilipinas, and is gearing up for early to access to its mobile app. For more updates, you may tune in to its official Facebook Page and website.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
