A new online payment facility that enables merchants — including home-based businesses — to accept credit card payments online and offer 0% installment has been launched by RCBC Bankard.
Webpay by RCBC Bankard is a payment facility that allows accredited merchants to accept online payments either in full, installment, and buy now pay later transactions. It also allows merchants who do not have e-commerce websites to accept credit card payments online through a payment link that they can send to customers via e-mail or SMS. RCBC Bankard is the credit card arm of the Rizal Commercial Banking Corp. (RCBC).
“We see webpay by RCBC Bankard as an enabler for merchants, not just the established ones but even those who are just selling in various social media platforms. The ability to accept credit card payments and offer 0% installment will bolster increase in sales and will drive efficiency for their business,” according to RCBC Bankard President and Chief Executive Officer Arniel B. Ong.
The webpay by RCBC Bankard facility also aims to provide a better customer experience by giving cardholders flexible payment options and a safe online shopping experience.
The online payments service accepts RCBC Bankard credit cards as well as credit cards that are affiliated with Mastercard and Visa. Accredited online merchants may accept 3-, 6-, 9-, 12-, 18- and 24-month online installment plans at zero percent interest. The sales transactions of the merchants will be credited to their respective nominated bank accounts during the next banking day for weekday transactions and two days for weekend transactions. If the accounts are from a bank other than RCBC, crediting will be done through the PESONeT system.
“We will continue to advance our digital initiatives, not just for the sake of using available technology. We are going through this digital transformation journey, mindful of the needs of our customers, both the credit cardholders as well as the merchants, as we have always aimed to make lives better,” added Ong.
Abenson, SM Department Store, Rustan’s, Datablitz, Silicon Valley, UCM, and Rams House of Wine already availed of the webpay by RCBC Bankard facility and are now offering 0% installment plans for online payments at their respective merchant websites.