Rizal Commercial Banking Corp. (RCBC) has been deploying additional mobile automated teller machines (ATM) in the past months to expand its payout partner network in the provinces and, ergo, its reach.
The Yuchengco-led bank said it rolled out additional 60 mobile ATM units terminals to new and existing payout partners in April and May.
These are the New Rural Bank of San Leonardo, Cantilan Bank, Baug CARP Beneficiaries Multi-Purpose Cooperative, Kooperatiba ng Sampaloc, Bayad Center branches, and other small and medium enterprises (SMEs).
Up to 90 more of the mobile ATM platform is expected to be given to its partners by June. Among them are microfinance nonprofit organization Kabalikat para sa Maunlad na Buhay Inc., Mount Carmel Rural Bank, Oro Integrated Cooperative, Perpetual Help Cooperative, Cooperative Bank of Nueva Vizcaya, Ekolife OFW Marketing Cooperative, Paglaum Multi-Purpose Cooperative, CARD Bank, CARD SME Bank, and CARD MRI Rizal Bank.
“With RCBC’s extensive and massive payout partner network equipped with robust and proven disbursements platforms, the strong and growing collaboration among these partners present in 72 out of 81 provinces is a testament of our commitment in helping the government,” according to Angelito M. Villanueva, executive vice president and chief innovation and inclusion officer of RCBC. The bank said all its mobile ATM units allow cash-out, balance inquiry, funds transfer, bills payment and e-loading transactions.
These platforms disbursed over P1 billion in 72 provinces across the country through 1,300 terminals during the first quarter, the bank said. More than half of the withdrawals were accounted by beneficiaries of the government’s conditional cash transfer program.
The mobile ATM and its disbursement platform have been allowed by the government to facilitate the program amid the Covid-19 pandemic. The digital disbursement platform allows basic transactions like cash receipt and withdrawal.
Most of the transactions coursed through these mobile ATM units were in Metro Manila, Northern Samar, Negros Occidental, Masbate and Marinduque, RCBC noted.
“This is the only inclusive and comprehensive disbursement platform in the country today allowing beneficiaries with or without smartphone or feature phones to receive their social grant,” Villanueva said.
In April, RCBC was given the authority by the Monetary Board to accept government funds and assist in cash distribution under the social amelioration program.