PSBank’s cardless withdrawals gaining ground
More Pinoys actually find the no-card transactions as a good option.
The Philippine Savings Bank (PSBank) said their cardless withdrawal feature for clients is gaining popularity among users, with transactions up by 23 percent as of March.
This is within six months since the lender rolled out the feature in October 2017, according to Senior Vice President for Marketing Group Noel Tuazon.
“The data only proves that the Cardless Withdrawal feature pioneered by the bank is relevant to meeting the needs of our customers for a secure online or mobile banking environment that allows them to withdraw cash even without an ATM card,” Tuazon said in a statement.
An account owner needs to use the bank’s app on their phones with mobile data connection. To avail of the service, one needs to log in on the app and key in details, in the process generating two number codes which will then be used on the ATM.
This minimizes card skimming cases via the contactless technology.