Visa Inc., the global payments technology company, looks to sell more of its innovative contactless payWave card product to as many banks and merchants that accept the technology.
Stuart Tomlinson, Visa country manager for the Philippines and Guam, said the banks issuing payWave cards here already include Citibank, HSBC, BDO Unibank and Union Bank.
“We have more bank partnerships that are coming this year.
We’re expecting two to three more banks,” he told reporters. “The banks adopt our technology. We develop their specification and make sure the security is in place. We make sure nobody can breach it,” he quickly added.
Visa payWave has 5,000 so-called acceptance points nationwide and 20 merchant partners. Cardholders can use the contactless card at any Visa payWave-accepting merchants, including Red Ribbon, Sbarro, Army Navy, Bon Chon, Jamba Juice, Kenny Rogers, Krispy Kreme, J.Co Donuts, El Pollo Loco and Seattle’s Best. “To gain momentum we need more players to sign up and we need more chain stores. We’re talking two to three bank partners this year,” he said.
He added that Visa has also introduced an electronic prepaid cash card system that enables quick, secure, and transparent disbursement of disaster-aid funds in the Philippines.
Visa recently partnered with humanitarian aid organization Oxfam under its electronic prepaid solution (EPS) project.
Since December Visa and Oxfam have given out 2,700 prepaid cards, with a total of $188,023 amount transferred to Filipinos affected by Supertyphoon Yolanda in Leyte and Samar.
“We helped them in coming out with a better solution through prepaid cash card distribution. In that way, we give dignity to the beneficiaries. We help in the financial inclusion and financial literacy,” he added.
Genivi Factao