UNO Digital Bank, Mastercard partner on digital, physical card

UNO Digital Bank announced on Wednesday that it is partnering with Mastercard to issue digital and physical Debit Mastercard cards in the Philippines.

The bank, which is one of the six digital banks that were granted a license by the Bangko Sentral ng Pilipinas (BSP), said the virtual cards will make it easy for customers to transact online, and the physical card can be used at points of sale at retail outlets or any Mastercard, Maestro, or Cirrus ATMs worldwide.

“Filipinos are embracing digital payments, and our partnership with Mastercard honors our promise to deliver simple solutions to our customers that offer a better banking experience,” UNO Digital Bank CEO Manish Bhai said. 

The debit card is expected to be launched in the second quarter of the year. 

“As a credit-led bank we are also building a payments ecosystem,” says Bhai. “In our business partners, such as with Mastercard, we seek those with a similar mindset to our own: a mission to deliver innovation with simplicity,” Bhai said. 

UNO Digital Bank said its physical Debit Mastercard will have security features that are designed to mitigate fraud and empower cardholders to prevent the misuse of their card.

“We are building in features that will elevate the banking experience for UNO Digital Bank customers, and take our commitment to cardholder convenience and innovation to the next level,” said Vivek Kumar, Head of Loans, Payments & Ecosystems for UNO Digital Bank.

“Mastercard is honored to work with innovative partners like UNO Digital Bank who are paving the way to financial inclusion in the Philippines. Mastercard debit cards are designed to meet evolving consumer needs, and make everyday payments safe, simple, smart and accessible.” Simon Calasanz, Country Manager, Philippines, Mastercard, meanwhile, said. 

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