RCBC-PalawanPay Digital Collaboration Signing at the Singapore FinTech Festival. Boom Eufemio, Go-To-Market Head, RCBC Digital Enterprise and Innovation Group; Ellaine Jazmeene Banzon, Business Development Manager; Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer; Third Librea, President and CEO of PalawanPay; JC Medina, Head of Innovation; and Missy Baldemor, Head of Palawan for Business.
SINGAPORE – A new chapter in Philippine digital finance opened at the Singapore FinTech Festival on November 12, 2025, as Rizal Commercial Banking Corporation (RCBC) and PalawanPay formally launched a partnership that will bring basic banking services directly to over 20 million PalawanPay users nationwide.
Through this collaboration, PalawanPay customers will soon be able to open an RCBC DiskarTech basic deposit account—branded as the “PalaSave” account—right inside the PalawanPay app. The integration brings Banking-as-a-Service to the grassroots level, transforming everyday e-wallet users into empowered savers with access to high-interest digital banking.
For millions of unbanked and underserved Filipinos, this partnership delivers a simple yet life-changing proposition: the ability to open a legitimate bank account without leaving their community, filling forms, or presenting multiple documents. With PalawanPay’s 5,000 branches across the country serving as the first touchpoint, opening a savings account becomes as easy as sending money.
PalawanPay President Third Librea said the partnership closes a long-standing gap in financial access. “Many Filipinos want to save, but traditional banking may feel intimidating. PalaSave gives them a friendly, secure, and fully digital way to start building their financial future. By connecting with RCBC DiskarTech, we’re offering up to 4 percent interest—without a minimum deposit, without hassle. It’s real financial inclusion.”
With the integration, PalawanPay users will gain access to DiskarTech’s strong savings features while keeping the convenience of the Palawan ecosystem, from e-payments to remittances. Since launching during the pandemic, DiskarTech has emerged as one of the country’s top alternative banking platforms, known for providing among the highest interest rates in the market.
Karlo Castro, President and CEO of the Palawan Group of Companies, said the partnership strengthens a shared vision rooted in service. “For 40 years, Palawan has stayed matatag, maaasahan, mapagkakatiwalaan. Our collaboration with RCBC allows us to democratize access to high-yield savings and bring financial security within reach of every Filipino—from small business owners to OFWs, from students to sari-sari store operators.”
RCBC Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva described the partnership as a transformative step for the country’s digital finance landscape. “This is the merging of two forces that have long served Filipinos both here and abroad. Together, RCBC and PalawanPay are elevating financial literacy, expanding banking access, and shaping a future where more Filipinos can participate fully in the financial system.”
Villanueva added that the partnership aligns with national goals for digital innovation. “The Marcos administration has challenged us to make the Philippines a fintech innovation hub. This collaboration is a concrete response—a bold step toward empowering Filipinos with the tools, confidence, and financial readiness they deserve.”
RCBC DiskarTech continues to set standards in digital banking, earning global awards such as Euromoney’s six-time “Best Bank for Digital” accolade—making RCBC the first Asian bank to achieve such recognition. The app has also received consecutive honors as the Social Security System’s “Best Disbursement Partner.”
With RCBC and PalawanPay uniting their strengths, millions of Filipinos are poised to experience secure saving, smarter money management, and meaningful financial growth—all from a platform they already use and trust.