RCBC’s DiskarTech App Recorded Phenomenal Growth Rate Since Last Yearby Fintech News Philippines November 19, 2021
Rizal Commercial Banking Corporation (RCBC), with its flagship financial inclusion app DiskarTech, has reached a five-digit organic growth in partner deposits by end of October versus same period last year.
DiskarTech’s partner deposits recorded a 69,526 % and 12,765 % surge in transaction value and volume respectively with close to 3 billion pesos in cash-in value.
These cash-in and deposit transactions are being done in over 45,000 touchpoints nationwide.
InstaPay outgoing registered a growth of 2,340 % and 25,526 % in transaction volume and value, respectively, while InstaPay incoming booked 790 %a nd 2,521 %, respectively.
Formed under the framework of the National Retail Payment System, InstaPay is governed by the Philippine Payment Management Inc. under the oversight of the Bangko Sentral ng Pilipinas.
Additionally, bills payment transactions also a big jump to 2,978 % and 3,892 % in volume and value, respectively.
As of end October, DiskarTech has also booked a gross transaction value in excess of P14.9 billion.
“Partly catalysed by the pandemic and the limited branch-based transactions, many turned to our partner merchants such as convenience stores, pawnshops and drugstores to cash in using their DiskarTech app.
This five-digit growth in DiskarTech’s partner deposit transactions is a strong indication that more and more Filipinos are embracing the digital-first imperative and the value of savings,”
said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer at 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.
RCBC continues its commitment in providing efficient, convenient and interoperable embedded finance solutions through its digital products for the benefit of more Filipinos,”
Eugene S. Acevedo, President and CEO at RCBC added.