Philippine National Bank opts for APS for MasterCard launch in Europe

With the idea of providing international payment card and a better remittance tool, the Philippine National Bank has decided to promote the cashplus prepaid Gold MasterCard throughout its Europe network. This comes after statistics clearly show that the number of Filipinos living in the UK alone has gone up considerably. The weak Philippine economy is heavily dependent on the remittances sent by the overseas Filipino workers (OFWs). This has been realised by the government too which in 2002 appealed to its nationals living abroad to send money back home.


The cashplus prepaid is tipped as the cheaper mode of sending money to the Philippines. APS’s cashplus prepaid Gold MasterCard is readily available in the European market and is the most awarded prepaid payment card in Europe. It offers maximum card utility without the credit facility. Its features provide a cost effective and seamless remittance service which appeals to foreign citizens who can also experience card acceptance problems when paying with domestically issued payment cards which are not accepted widely offshore.


The PNB customers will benefit from this as they would get to share their money with family and friends on a regular basis. Since the service is expected to go online the subscribers would benefit even more. Additionally, the cashplus prepaid Gold MasteCard will also reduce exposure to fraud. It would eliminate the risk of losses caused by unauthorised borrowings.


The bank expects to see more activity with foreign banking partners this year as it sets out with a service model designed to be cost and operationally effective.


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