Finance

GoTyme, BancNet, Visa form strategic partnership

More convenient digital banking

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GoTyme

GoTyme, BancNet, and Visa announced a strategic partnership, making banking and digital payment solutions even more convenient and accessible in the Philippines.

The partnership also coincided with recent release of GoTyme’s Visa ATM Debit Card which shall be given out for free to all bank account holders of the Gokongwei brand.

Before the physical card was released, GoTyme subscribers only had a virtual card number which they use for online transactions.

Now, users will enjoy the usual benefits of Visa for transactions worldwide with the card, including:

  • ATM withdrawals
  • POS terminal transactions
  • Real-time fund transfers
  • Payments of purchases by direct debit via InstaPay

As cashless transactions are consistently gaining popularity in the new normal especially among younger age groups, the collaboration will allow for virtual payment modes and digital banking to play a bigger role in society moving forward.

Those interesting in getting the Debit card may do so by going to any GoTyme kiosk in Robinsons mall. The company says the process should take only five minutes.

Apps

Transfer for free: Tonik now has InstaPay services

No added fees for transfers

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Tonik InstaPay

Tonik, the Philippines’ first neobank, now supports InstaPay services to make it even easier and more convenient for in-app transactions.

This means customers can now send and receive real-time transactions up to PhP 50,000 to and from participating banks and e-wallets with no added transfer fees using the digital bank.

To top-up another Tonik account, simply go to the “Top up” option on the dashboard, choose InstaPay, and copy the 14-digit Tonik account number.

For transfers to another bank, tap “Send Money Options” and select “To another bank”. Then, change the channel to InstaPay and fill out the necessary information.

What’s great about Tonik transfers is that they are free of charge although do note that other banks may have varied transaction fees for InstaPay top-ups.

This should matter a lot specially for workers as interbank transactions or transfers from e-wallets like GCash, Maya, and ShopeePay to banks and vice-versa usually cost anywhere between PhP 10 to PhP 25.

Tonik is available both via the Apple App Store and Google Play Store.

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Apps

Finally, a digital banking service focused on personal finance!

Komo gives you full control of your money!

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Komo, a digital banking service powered by EastWest, finally made noise. The platform provides everything you’d expect out of a digital bank, giving users full control over their finances.

There’s no need for long queues at branch visits or hotline calls that take more than an hour, as well as services that usually take a few weeks or more when done in a brick-and-mortar bank.

No need for a physical branch visit

As a digital banking service, Komo doesn’t require you to visit a branch to open a savings account. Simply download the Komo app on your iPhone or Android device and register. You will be required with one valid ID and face verification, and voila!

After getting your account verified, you can get a free VISA debit card for your cashless transactions, as well as the ability to withdraw on any automated teller machine (ATM) nationwide. Moreover, you can generate an authorized bank certificate for visa applications through the app.

Faster, secure transactions

The purpose of a digital banking service is convenience, and Komo delivers through fast yet secure transactions. Through the app, you can authorize transactions with your face ID or fingerprint, without the need for a one-time pin (OTP) that’s usually delayed because of poor network issues.

Even more, Komo pushes for OTP-less transactions through biometrics to keep your account safe. In worst-case scenarios, you have the option to lock and safeguard your account from theft and fraud on your own.

Full control of your personal finance

Komo’s advocacy is helping people take control of their money. The digital banking service created a system that allows its patrons to focus on personal finance with its Personal Finance and Analytics tools — money management services that give an overlook of expenses as well as a dashboard where you can set your financial goals.

It comes with a feature that lets you set your goals and budgets to achieve the desired outcome. Rainy day, vacation, or a big automotive purchase — you name it. Komo helps you visualize the progress of your savings.

Moreover, you’re in for a treat since Komo secures your funds and grows them through a 2.5% annual interest.

Build your own insurance plan

Komo has partnered with Troo Flex, allowing its users to build their own insurance plans. In just a few taps, you can create and customize a benefit that meets your lifestyle and budget. For as low as PhP 428 (US$ 8) per year, you can get comprehensive protection through the app.

Komo is available on Google Play Store and the App Store. For more information, visit this link.

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Finance

PayMaya opens crypto feature

Start your crypto journey easily for as low as PhP 1

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PayMaya crypto

E-wallet brand PayMaya is finally launching its cryptocurrency feature through its all-in-one financial app.

This allows Filipinos to jumpstart their cryptocurrency journeys without having to register another account as processes and transactions will all be done on the PayMaya app.

All existing PayMaya users will only have to upgrade their accounts to start buying and earning digital assets such as Bitcoin and Ethereum for as low as PhP 1.

Other popular coins and tokens available for trading are Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT), with more coming soon.

PayMaya developed this feature under its Invest platform in connection with Coinbase Institutional, the largest publicly traded crypto company in the world and the trusted bridge to the crypto-economy.

Crypto made easy

After users have upgraded their PayMaya accounts, they may conveniently access the crypto feature to start investing.

PayMaya also offers access to tutorials and guided content to help interested users understand the basics of crypto.

Cashing in is likewise easy with over 90,000 outlets nationwide offering the service for free.

Start your crypto journey

To start buying crypto on the PayMaya app, follow these simple steps:

  1. Tap Crypto on the PayMaya homepage.
    2. Tap Buy on the bottom of the screen, then select the desired cryptocurrency.
    3. Input the desired Philippine Peso (PHP) amount you want to spend. You will see the equivalent cryptocurrency value based on an estimated market price. Then, tap Next on the upper right hand of the screen.
    4. A Confirm Purchase tab will pop up. On this tab, you will see the amount in PHP you will be spending and the amount of cryptocurrency you will be receiving through this transaction. Once you are ok with the details, you may confirm your purchase and slide to buy.

Once you purchase your desired cryptocurrency, the amount will reflect on your app’s Crypto page.

Selling crypto is just as easy as buying it.

Follow these steps

  1. Tap Crypto on the PayMaya homepage.
  2. Tap Sell on the bottom of the screen, then select the desired cryptocurrency.
  3. Select a percentage value to sell a part of your currently owned asset. You will see the equivalent PHP value based on an estimated market price. Then tap Next on the upper right hand of the screen.
  4. A Confirm Sale tab will pop up. On this tab, you will see the amount of cryptocurrency you will be selling and the amount of PhP you will be receiving through this transaction. Once you are ok with the details, you may confirm your purchase and slide to sell.

You will automatically receive your earnings on your PayMaya wallet. Simply go to your app’s home screen and check the amount.

Once you receive the amount, you can choose to use it for your everyday transactions with PayMaya or transfer it to your bank account instantly.

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