Robinsons Bank eyes more cardholders

MANILA, Philippines — Gokongwei-led Robinsons Bank Corp. is initially expecting at least 50,000 additional credit cardholders after partnering with leading life insurer Pru Life UK and Mastercard.

Elfren Antonio Sarte, president and chief executive officer at Robinsons Bank, said in a virtual press conference the partnership via the launch of the Pru Life UK Mastercard provides policy owners of Pru Life with financial flexibility.

“This unique credit card provides Pru Life UK policy owners with financial flexibility, along with health and wellness benefits that are exclusive to the credit card. It also provides them the convenience of a streamlined payment facility when paying their insurance premium, eliminating the risk of missed payments,” Sarte said.

Sarte said Robinsons Bank supports Pru Life UK by allowing their clients to maximize the potential of their credit card.

“With the Philippines on the road to economic recovery and our vaccination rate steadily climbing, we encourage our customers to protect their health and their future,” Sarte said.

Pru Life UK President and CEO Eng Teng Wong said the launch of the card is part of Robinsons Bank and Pru Life UK’s long-term bancassurance partnership.

“The importance of investing in one’s health and financial security has never been as apparent as it is now, when the ongoing pandemic continues to cause disruptions and uncertainties in the Philippines,” Eng Teng said.

Eng Teng said the card would provide an enhanced experience to customers with a more convenient payment solution, bundled with exclusive features and benefits, made more even rewarding with every transaction.

Robinsons Bank first vice president Maire Karabel Dadufalza said the partnership is targeting 50,000 cardholders on the first year as the credit card is initially available to Pru Life UK employees, agents, and policyholders.

Since the soft launch of the credit card, Dadufalza said more than 15,000 applications have been received.

Aside from free annual membership fee for the first year, Dadufalza said succeeding annual membership fees are waived when the Pru Life UK policy premium is enrolled in auto-charge facility.

Dadufalza said the cardholders are entitled to zero percent installment for three months on drugstores and hospital bills with a minimum transaction of P3,000 and maximum of P50,000 per year.

According to Dadufalza, clients are also entitled to exclusive discounts and deals on membership fee of active lifestyle, as well as health and wellness products. These include one reward point for every P50 spend on non-Pru Life UK transaction and five points for every P50 spend on Pru Life UK transaction.