Villanueva disclosed that RCBC launched “discartech,” a fusion of the Filipino word “diskarte” and technology which, he said, was the first Tagalog-English mobile app in the country. “This is a bank account, a savings account,” Villanueva said but pointed out that what makes it different from ordinary savings accounts is the high interest rate at 3.5 percent. He added that displaced OFWs can use the card as a source of additional income through digital transactions like e-load, bills and government payments, among others. “At the end of the day it is more of a public-private partnership with the aim of providing assistance to our OFWs,” he said. He said his firm uses blockchain technology, which is designed with airtight safety features to ensure fast and secure transactions.

Source: Manila Times October 03, 2020 16:16 UTC