Banking

RCBC ATM Go Expands Access with QR-based Cardless Cash Withdrawals

The Rizal Commercial Banking Corporation (RCBC) has recently launched a QR-based cardless withdrawal facility as part of its RCBC ATM Go service. This initiative is aimed at enhancing the availability of digital financial services in areas of the Philippines that are currently underserved or lack banking infrastructure.

RCBC ATM Go offers a variety of digital banking services, such as cash transactions, payments, and transfers, through mobile-point-of-service (mPOS) technology. This service is particularly noted for its reach in remote locations, like Turtle Island and Lake Sebu, which have been traditionally underserved in terms of financial services.

According to RCBC, the move is aligned with broader national efforts to increase financial inclusion and make digital banking more accessible in remote and rural regions.

To use the service, customers approach an RCBC ATM Go partner merchant and use an mPOS terminal. They follow a simple process: choosing ‘Withdraw’, then ‘Without Card’, and finally ‘QR Cashout’. This generates a QR code via their RCBC banking app, which is scanned by the ATM Go terminal to complete the transaction.

Lito Villanueva

Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer at RCBC, mentioned that this addition could be seen as an advancement towards a more digital banking environment in the country.

He suggested that it could offer a practical benefit for those living in rural areas, potentially reducing the need and associated costs of travelling to urban centres for banking needs.

Lito further commented on the broader implications of this service,

“With the introduction of this pioneering service, it is our great hope that more Filipinos will embrace formal banking as an accessible, convenient and essential pillar of everyday Filipino life. Banking should never be challenging.”

The incorporation of QR-powered withdrawals into RCBC ATM Go’s services has contributed to a noticeable growth in the use of the service, particularly in rural and remote communities, according to the bank.

The expansion includes a significant increase in the number of terminals and partnerships with merchants, reflecting a growing acceptance and use of the service across the country.

Featured image credit: Edited from RCBC