RCBC digital platforms get more transaction volume

2021 0823 RCBC 200 x 105Rizal Commercial Banking Corp.’s (RCBC) digital platforms have seen an increase in both transaction volume and value as of last year.

With over 5 million downloads in less than two years, the Yuchengco-led lender said in a statement on February 10 that its DiskarTech app has successfully scaled up its reach and usage, more than double from the previous year’s end.

Generation Z makes up about 70 percent of its customers and more than 80 percent of them live outside Metro Manila in all 81 provinces of the Philippines.

DiskarTech had a gross transaction value in excess of P18.3 billion as of end-December 2021, up 139 percent from the previous year, RCBC added.

When compared to 2020 data, its partner deposits or cash-ins saw a 26,568-percent and 6,632-percent increase in transaction value and volume, respectively.

These cash-in and cash-out transactions, the bank noted, are carried out in over 45,000 locations across the country including 7-Eleven, Bayad Center, Ayanah, rural banks, pawnshops, drugstores and money service businesses, among others.

DiskarTech fund transfers via InstaPay rail have also been on a rise, it underscored. The volume and value of incoming InstaPay transactions climbed by 2,113 percent and 2,616 percent, respectively, while the volume and value of outgoing InstaPay transactions soared by 527 percent and 12,394 percent, respectively.

The app’s bill payment transactions surged by 2,113 percent in terms of volume and 2,616 percent in terms of value.

With a total throughput value of more than P8 billion, RCBC’s neighborhood mobile point-of-sale terminal ATM Go saw a year-to-date transaction volume rise of more than 2.8 million transactions. Pantawid Pamilya conditional cash transfer beneficiaries in 77 of the 81 provinces accounted for more than 60 percent of the transactions.

RCBC’s principal mobile banking app, RCBC Digital, saw a 75-percent growth in total throughput for both mobile and online versions, bringing in more over P109 billion in revenue.

The Manila Times

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