Rizal Commercial Banking Corp. (RCBC) and its unit RCBC Bankard Services Corp. (RCBC BSC) announced the launch of consumer-centric credit card the companies plan to sell to affluent travelers.
Citing a recent study led by Euromonitor International, the companies said “emerging and developing countries will see the number of affluent individuals triple between 2017 and 2030 to account for 29.3 percent of the global affluent consumer segment in 2030.”
RCBC said its “Bankard VisaPlatinum was launched keeping in mind the habits and preferences of this increasingly influential sector.”
The company added “this market views wealth as having the means to do things that matter: rest, recreation and deepening familial ties through meaningful experiences, such as travel.”
The launch of the card comes as RCBC Bankard President and CEO Simon Javier A. Calasanz said his company’s card base has grown by 26 percent.
From more than 625,000 cards last June 2018, RCBC Bankard’s card base increased to more than 788,000 cards at the end of June 2019, Calasanz said.
Additionally, card usage has grown by 28 percent compared to same period last year, he added. Industry data shows that from the bank’s eight slot three years ago, it is now ranked as top 5 in terms of Issuing Billings, Calasanz said.