State-run Land Bank of the Philippines (LANDBANK) has announced the launch of its all-in-one mobile wallet called “LANDBANKPay”.
The LANDBANKPay Small Wallet account can be used to perform basic transactions, such as balance inquiry, buy reloads, bills payments to more than 800 government and private partner merchants enrolled in the LANDBANK Link.BizPortal, and cash-in via the the bank’s mobile app, its branches and agent banking partners nationwide.
The bank said that the registration process for the Small Wallet requires the customer’s mobile number, full name, and birth date with a maximum balance limit of PHP 20,000.
Small Wallet accountholders can likewise request and receive funds from Full Wallet accountholders.
Customers can upgrade to a LANDBANKPay Full Wallet account by providing basic demographic information, uploading a valid government-issued ID, and taking a “selfie” to confirm their identity.
Full Wallet accountholders will get access to an increased maximum balance limit of P50,000 and LANDBANKPay’s full array of features.
This includes cash-in and cash-out facilities, fund transfers, reload purchases, online purchases, local cash remittances through the LBPadala, bills payment to more than 800 government and private partner merchants enrolled in the LANDBANK Link.BizPortal, and linked to the bank’s credit and prepaid cards.
The LANDBANKPay was soft-launched in 2021 to provide National ID applicants their own transaction accounts under LANDBANK’s co-location strategy with the Philippine Statistics Authority (PSA) for the PhilSys project roll-out.
As of 31 March 2022, LANDBANK has onboarded more than 7.8 million PhilSys registrants in 70 provinces nationwide.
The LANDBANKPay is available to all users, even those without an existing LANDBANK account.
Cecilia C. Borromeo
“The LANDBANKPay builds on our broader thrust of serving the nation through reliable and convenient digital banking.
This is in line with LANDBANK’s full commitment to expand access to responsive and affordable financial products and services, especially for those residing in unbanked and underserved areas of the country,”
said Cecilia C. Borromeo, President and CEO of LANDBANK.
