By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
EveryTechEverEveryTechEver
  • News
    NewsShow More
    It’s ‘Together We Create’ on upcoming COMPUTEX Taipei 2023
    6 Min Read
    DoE awards contracts to SunAsia and Blueleaf Energy
    6 Min Read
    HONOR is now in Marilao and Marikina
    4 Min Read
    HONOR Opens First Experience Store in Cebu
    3 Min Read
    Dilaw’s “Uhaw (Tayong Lahat)” breaks record on Spotify Philippines
    4 Min Read
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
    GamingShow More
    Epson launches Smart Gaming Projector EH-TW6250
    5 Min Read
    Axgon PH is VP Choice Awards’ PC Accessory of the Year
    2 Min Read
    Acer is still the Leader of Notebook sales in PH
    4 Min Read
    Predator Gaming partners with Blacklist International
    2 Min Read
    Predator x Blacklist Dota 2 Team is Here
    4 Min Read
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
    ReviewsShow More
    Samsung Galaxy A54 5G Review: The best A-series yet
    ASUS Zenbook 17 Fold OLED review: The future of PCs
    Xiaomi Redmi 12C Review: Budget smart-choice lifestyle
    honor x7a
    HONOR X7a Review: Your Budget Swiss Army Knife
    HONOR X8a Review: An affordable Camera Centric Phone
  • About Us
    • Contact Us
Search
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: GoTyme Bank to boost PH digital economy toward cashless society
Share
Sign In
Notification Show More
Aa
EveryTechEverEveryTechEver
Aa
  • News
  • Tech
  • Gaming
  • Lifestyle
  • How-To
  • Reviews
  • About Us
Search
  • News
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
  • About Us
    • Contact Us
Have an existing account? Sign In
Follow US
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
EveryTechEver > Blog > Tech > FinTech > GoTyme Bank to boost PH digital economy toward cashless society
FinTech

GoTyme Bank to boost PH digital economy toward cashless society

Team EveryTechEver
Last updated: 2022/11/11 at 6:00 AM
Team EveryTechEver
Share
SHARE

GoTyme Bank, Philippine interbank ATM and online banking network BancNet, and Visa, one of the world’s leaders in digital payments, formed a strategic partnership to address the need for convenient and accessible banking and digital payment solutions in the Philippines.

Cashless transactions have become the norm as a way to stay safe during the pandemic. The 2021 Consumer Payment Attitudes study conducted by Visa, found that 14% of the respondents used contactless cards to pay for their transactions for the first time in 2020 while 12% of the respondents, led by the Gen Z and Gen Y age groups, said they will be less likely to use cash after the current health crisis. This means that cashless payment forms such as cards and e-wallets, as well as digital bank platforms, will play a bigger role in the transition to a cashless Philippine society.

Visa’s worldwide reach and expertise in digital payments, synergizing with BancNet’s extensive nationwide and offshore coverage, together with GoTyme Bank and the Gokongwei brand’s reputation, technology, and understanding of the Philippines market, will offer consumers high-quality banking to every Filipino, and an exciting and rewarding digital payment and money movement experience. 

gotyme

The GoTyme Bank ATM Debit Card is backed by the combined strengths of three financial institutions to offer Filipinos high-quality banking services. At the Memorandum Signing (L-R): GoTyme Bank Co-CEO Albert Tinio, BancNet CEO Emmie Reyes, GoTyme Bank President and CEO Nathaniel Clarke, and Visa Country Manager for the Philippines and Guam Jeff Navarro.

This partnership launch coincided with the introduction of the GoTyme Visa ATM Debit Card that will be given out for free to all GoTyme Bank Account holders. This high-quality card will allow everyone to enjoy the benefits of Visa for transactions worldwide including withdrawals from any ATM when traveling outside of the country.

Powered by BancNet, which is the Philippines’ single ATM switch operator, the multi-bank, multi-channel electronic payments network will enable GoTyme cardholders to transact not only at automated teller machines (ATM) but also at point-of-sale (P.O.S.) terminals, the Internet and mobile phones to access a wide range of services through the different channels, including real-time fund transfers and payment of purchases by direct debit to account through InstaPay.

The virtual and physical cards will have the same number and will be personalized with the cardholder’s name. BancNet CEO Emmie Reyes says, “With this partnership, GoTyme will have access to the cutting-edge switch infrastructure that BancNet operates and which enables secure and reliable money transfers to other banks and e-wallets in real-time, at any time. GoTyme customers will also be able to transact at over 24,000 ATMs and more than 480,000 POS terminals nationwide.”

Jeff Navarro, Visa’s Country Manager for the Philippines and Guam stated, “I am excited to launch this partnership with GoTyme and BancNet. Visa has always been committed to making the digital payment experience seamless, secure, and accessible to all. Visa’s Consumer Payment Attitudes Study showed that more Filipinos are trying cashless modes of payment, and it is our collective goal to keep this momentum going. Together, we hope to address some of the barriers preventing Filipinos from embracing cashless payments, helping to drive greater financial inclusion in the country.” 

Unboxing better banking: The new GoTyme Bank ATM Debit Card launches convenient and secure access to local and international financial services through a strategic partnership with Visa and BancNet.

Initially, consumers who download the GoTyme app will be able to generate a Visa-powered virtual card for free that they can use to make digital payments and other related transactions, with more exciting solutions and benefits in the pipeline. This easy process for onboarding will offer safer, better, and varied options for their banking and payment needs including instant access to banking and payment platforms through the Visa debit card. The personalized cards will be issued in real-time through GoTyme Bank. These can be used for eCommerce and the physical card can also be used for transactions here and abroad.

“We are building on the success of Tyme in South Africa, which became the fastest Visa issuer in the continent, and we are bringing it to the Philippines with GoTyme Bank. This partnership aligns with our shared vision and commitment to uplift the Philippines’ digital economy,”

says GoTyme Bank President and CEO Nathaniel Clarke.    

“This partnership is designed to benefit all Filipinos by providing access to high-quality banking and making digital and cashless transactions as seamless, secure, and convenient as possible. Through this, we hope to encourage more Filipinos to embrace digital payments as the way forward toward a cashless society,” says GoTyme Bank Co-CEO Albert Tinio. 

You Might Also Like

Micro businesses in Casiguran, Aurora picking up through BDO Network Bank

Visa and Maya have just released a limited edition commemorative Visa card

Maya is included on Top Companies by LinkedIn

GCash FutureCast Introduces the Future of Fintech

Jollibee and Maya Brings ‘Tap-Sarap with Visa’

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Team EveryTechEver
Zup Techies! Team EveryTechEver is our admin account for Press Releases. You can get in touch with us at [email protected].
Previous Article Sony announces HT-A3000 Soundbar with 360 Spatial Sound
Next Article OPPO A Series: Find the Right Phone for your Daily Hustle
Leave a comment

Leave a Reply Cancel reply

Stay Connected

248.1k Like
69.1k Follow
134k Pin
54.3k Follow
banner banner
Create an Amazing Newspaper
Discover thousands of options, easy to customize layouts, one-click to import demo and much more.
Learn More

Latest News

ASUS Exhibits Compelling Innovations at Computex 2023
Laptops Mobile
MediaTek and NVIDIA to Provide Product Roadmap to Automotive Industry
Auto
Guinness World Record-breaking HONOR Magic5 Pro to arrive in PH on June 8
Mobile
Acer Unleashes Predator Orion X Desktop and Curved Monitors
Laptops
//

Your daily source of everything tech.

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Follow US
© 2022 EveryTechEver. Your daily source of everything tech. All Rights Reserved.
  • Privacy Policy
  • Terms of Service
  • Contact Us
 

Loading Comments...
 

    Welcome Back!

    Sign in to your account

    Lost your password?