RCBC DiskarTech, the financial super app of the Yuchengo-led Rizal Commercial Banking Corporation continues to banner financial inclusion efforts by signing the latest partnership with taxi transport line EnviroCab last 13 December 2022.
The country’s leading and awarding-winning digital challenger bank, through a Memorandum of Agreement (MOA), will provide assistance to taxi drivers by helping them open a basic deposit account through RCBC DiskarTech. Each driver can use the app to receive payments through the Bangko Sentral ng Pilipinas’ interoperable QR PH. Passengers can now pay their fare with one single scan.
Moreover, each driver can also receive an incentive of PHP 60 for every successful referral, and an additional PHP50 for every passenger paying them through the DiskarTech app, with a maximum of PHP500 additional earnings per week. Drivers can earn incentives for a maximum of two transactions from each unique passenger.
“At RCBC, we continuously work towards a financially inclusive nation, where every community and sector is served, seen, and heard. Every partnership is not merely transactional, but rather transformational. One way we do this is by empowering medium to small enterprises and workers to reach their fullest potential through financial awareness, education, and access to a wide range of financial services. We want every Filipino to take the reins of their own financial well-being and livelihood,” according to Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of RCBC.
EnviroCab and RCBC’s partnership goes way back, during the inception of the taxi line. The challenger bank was one of the cited reasons by its EnviroCab president Luis Carballo why their business stayed this long in the industry. When the taxi line was starting, they loaned 15 units of cabs from RCBC, which they used as a starting point to transform and expand their business.
In the same manner, drivers can also enjoy transformational solutions through a wide range of services in DiskarTech such as microloans, bill payments, insurance, telemedicine, and cashback, among many others. Moreover, the savings of each user can be further multiplied through the 6.5 percent interest rate, one of the highest in the Philippine savings market.
Earlier this month, the challenger bank also launched its NegosyanTech program for MSMEs by incentivizing partner merchants like sari-sari stores with every transaction they make with RCBC DiskarTech. On top of transaction fees, “negosyante” who will reach a specific number of transactions can receive up to PHP1,000 capital boost monthly.
RCBC, through its dedicated arm for digital enterprise and innovations, has been an advocate of a cash-lite society for years. With innovations with empathy at its core, RCBC is pioneering digital payment adoption through its inclusion app RCBC DiskarTech, Philippine’s first “kapit-bahay” automated teller machine ATM Go, and its latest “phygital” (physical-digital) banking experience MoneyBela Barangayan Banking.
RCBC DiskarTech was hailed as one of the winners of the prestigious Gartner Eye for Innovation Awards in the Asia-Pacific region. RCBC bannered the Philippine flag, beating more than 300 entries in the region. RCBC was also recognized as the Philippines’ best bank for digital for three consecutive years, 2020 to 2022, by the Asiamoney, and back-to-back wins as the country’s best financial inclusion app in the recently concluded Best Financial Technology Awards by The Asian Banker.