Landbank taps Visa for new debit card

MANILA, Philippines - State-run Land Bank of the Philippines has forged a partnership with Visa for the launch of its new debit card, a top bank official said.

Landbank president and CEO Gilda Pico said the Landbank Visa Debit Card would enable cardholders to withdraw local currency from any of two million ATMs in more than 200 countries and territories worldwide.

Pico said their cardholders could also pay bills, shop online, and purchase over the phone and via mail using funds in their linked transaction account.

“The Landbank Visa Debit Card is part of our continuing effort to provide our cardholders with efficient and fast service by giving them freedom to access their money when they want, wherever they are,” Pico said.

Iain Jamieson, Visa country manager for the Philippines and Guam, said the partnership with Landbank shows their commitment to provide more Filipinos access to electronic payments.

“With over 1.7 million Landbank customers, including all government employees, the Landbank Visa Debit card will allow cardholders to leave their cash at home and make purchases wherever Visa is accepted, with the convenience and security associated with the Visa brand,” Jamieson said.

The debit card eliminates the need to use cash for everyday purchases such as in gasoline stations, grocery stores and restaurants.

It also provides cardholders with instant access to cash from Landbank ATMs and any ATM overseas that displays the Visa logo.

Landbank ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital.

From its initial role as the financing arm for agrarian reform, Landbank has since evolved into a full-service commercial bank.