GLOBAL payments firm Visa has teamed up with fintech infrastructure provider M2P Fintech and CTBC Bank (Philippines) Corp. to help rural and thrift banks offer digital debit cards, aiming to accelerate financial inclusion and strengthen countryside banking.
The partnership enables smaller banks to issue physical and digital Visa debit cards through an “issuance-in-a-box” framework, removing costly infrastructure barriers. It combines Visa’s global payments network, M2P Fintech’s technology platform and CTBC Bank’s banking license to deliver secure and scalable card solutions.
Rural and cooperative banks serve over 24 million depositors nationwide, while thrift banks account for nearly 10 million accounts, Bangko Sentral ng Pilipinas data show. Despite their reach, these banks make up less than eight percent of total banking assets, underscoring the need for digital transformation.
Participating banks will gain access to Visa’s risk and fraud prevention tools, including Visa Advanced Authorization and Visa Risk Manager, along with Visa Resolve Online for faster dispute resolution — measures designed to boost security and consumer confidence.
“This collaboration advances Visa’s commitment to financial inclusion and innovation in payments,” said Visa Philippines country manager Jeffrey Navarro.
M2P co-founder Madhusudanan R said the initiative would enhance efficiency and service delivery, while CTBC Bank president Luis Elizaga said it aims to digitize rural institutions serving key sectors such as agriculture and MSMEs. (KOC)