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May 31, 2024

RCBC’s “phygital” transactions soar 43%, covering nationwide operations

Rizal Commercial Banking Corp. (RCBC), owned by the Yuchengco Group, reported an impressive P7.5 billion in transactions through its “phygital” solutions from July 2022 to July 2023, covering 100 percent of its nationwide banking operations and experiencing a 43 percent year-on-year growth in transaction volume.

Phygital combines digital financial solutions with physical human-assisted operations, and RCBC expanded this initiative with a 527 percent growth rate, adding 1,843 new terminals to its bank-agnostic mobile-point-of-system (POS) ATM network.

This effort aligns with the Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap to transition 50 percent of payment transactions into digital forms by year-end, with RCBC’s ATM Go contributing significantly to this shift by expanding its reach with 6,000 operational terminals.