Landbank has introduced its own digital wallet.
LANDBANK — The Land Bank of the Philippines has joined the digital wallet (e-wallet) space with the launch of LandbankPay.
LandbankPay is a mobile payment application that allows users to conveniently and safely pay bills, top-up mobile phones and tollway RFID accounts, buy online (e-commerce), as well as transfer funds anytime, anywhere.
According to Landbank, the all-in-one mobile wallet would help widen the access of more Filipinos to financial services and to advance greater financial inclusion in the Philippines.
“The LandbankPay builds on our broader thrust of serving the nation through reliable and convenient digital banking,” said Landbank president and CEO Cecilia Borromeo. “This is in line with Landbank’s full commitment to expand access to responsive and affordable financial products and services, especially for those residing in unbanked and underserved areas of the country.”
Philstar reported that initial registration in LandbankPay, which only requires a customer’s mobile number, full name, and birth date, opens a Small Wallet account with a maximum balance limit of PHP 20,000.
The Small Wallet account can be used to perform basic transactions such as balance inquiry, buying load, bills payment, and cash-in through the Landbank Mobile Banking App, Link.BizPortal, Landbank branches, and agent banking partners nationwide. Likewise, Small Wallet account holders can request and receive funds from Full Wallet account holders.
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Based on the report, customers can upgrade to a Full Wallet account by providing basic demographic information, taking a “selfie”, and uploading a valid government-issued ID to confirm their identity.
Full Wallet account holders will enjoy an increased maximum balance limit of PHP 50,000 and LandbankPay’s full array of features — including cash-in and cash-out facilities, fund transfers, buying load, online purchases, and bills payment, among others.
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