Mastercard, RCBC launch debit card

Mastercard recently partnered with one of the top banks in the country, Rizal Commercial Banking Corporation (RCBC), in launching the RCBC MyDebitMastercard with the EMV chip, giving Filipino customers more secure options for cashless payments in physical merchants globally.

“Mastercard is very pleased to be partnering with a company whose global reach reflects our desire to make everyday payments painless for busy customers,” says Poch Villa-Real, Mastercard Philippines Country Manager. “The new RCBC EMV MyDebit Mastercard allows RCBC customers to enjoy secure and convenient transactions at over 38 million physical merchants worldwide, and easy access to their money in over 2 million ATMs globally.”

RCBC, now on its 57th year of servicing the country with 320 branches and over 1,400 RCBC ATMs, is a multi-awarded bank that provides its customers greater acceptance globally with cashless transactions in physical merchants both in the Philippines and abroad through the RCBC MyDebit Mastercard.

“RCBC believes EMV technology is a must-have for our customers' protection against fraudulent transactions even as we continuously work hard to improve and upgrade our offerings and services to address their various needs,” says Margarita Lopez, Digital Banking & Operations Group Head, FSVP of RCBC. “We see our partnership with Mastercard in launching the RCBC MyDebitMastercard as an important driver in allowing us to ensure customers that their data and transactions are uncompromised.”

The debit card is equipped with EMV chip technology which allows for safer and faster transactions. Mastercard was among the original developers of the fraud-reducing system, which is enabled by payment instruments with embedded microprocessor chips that store and protect cardholder data through dynamic authentication.