ZED secures BSP license

ZED secures BSP license
SunStar Business

ZED, a credit-led neobank, announced today it has received its Certificate of Authority to Operate as a standalone credit card issuer from the Bangko Sentral ng Pilipinas (BSP). After operating in a BSP-sanctioned pilot for the last six months, the Zed Card is officially rolling out to the public on an invite-only basis, starting with its waitlist. Zed has seen overwhelming demand for its no-interest, no-fees Mastercard Titanium Credit Card, garnering close to 40,000 sign-ups since launching its waitlist in March this year. Those who have signed up for the waitlist will receive invitations to apply for a Zed card over the coming months. Founded by Silicon Valley engineers, Danielle Cojuangco Abraham and Steve Abraham, Zed is reimagining the credit card from the ground up, leveraging technology to empower the next generation of Filipino professionals with the most powerful credit card. It is the only credit card in the Philippines with no annual fee, foreign transaction fees or any other fees, so customers simply pay for their purchases, nothing more and no revolving interest. Customers get up to 31 days of credit with zero interest with no fear of revolving their balance and incurring interest charges. Zed has raised US$6 million in Seed funding from Paypal Founder and early Facebook investor, Peter Thiel’s Valar Ventures, and founders and operators from Nubank, Mercury, Cred and Square. / PR

Trending

No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph