RCBC’s DiskarTech App Rakes In PHP 11.8 Billion in Transactions a Year After Launchby Fintech News Philippines September 20, 2021
Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech has booked a gross transaction value in excess of P11.8 billion a year after its launch in July last year.
This total throughput value is an aggregate of both organic transactions done through the app, and the government aid disbursed via DiskarTech Lite in collaboration with its “Ayuda Arangkada” partners.
As of August 31, DiskarTech’s gross organic throughput value has reached P5.2 billion, which includes basic in-app transactions such as bills payment, free fund transfers via Instapay and PESONet, e-load and e-pin services, and cash in and out transactions with partner merchants.
Total transaction value for disbursed government aid, on the other hand, amounted to P6.5 billion.
This includes financial subsidy from key agencies like the Department of Social Welfare and Development (DSWD) and the Department of Labor and Employment (DOLE) that were disbursed using DiskarTech Lite as part of the government’s social protection programme.
As of end August this year, DiskarTech saw a 17-percent increase in transaction value and a 29-percent increase in transaction volume compared to the previous month.
DiskarTech app downloads has raked up 4.4 million a year after its launch while deposit size has reached over P90 million at 18-percent monthly average growth rate.
“Breaching the 10-billion mark in terms of gross transaction value is an important milestone for us in DiskarTech as it shows how well Filipinos nationwide has continued to support our efforts in promoting inclusive digital finance in the country,”
said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer at RCBC.
“Innovating with empathy has always been an important hallmark of the work that we do here in RCBC. The sustained growth of transactions using the DiskarTech app reveals to us how our digital finance solutions help in bridging the so-called digital divide,”
Eugene S. Acevedo, President and CEO of RCBC added.