The Land Bank of the Philippines (LandBank) and Visa have launched a new payment card designed to streamline and digitalize government transactions, according to a report by Philippine News Agency. The initiative aims to reduce cash dependency and improve efficiency in disbursements and collections across government agencies.
The card, which is co-branded with Visa, will allow government employees and beneficiaries to access funds digitally, facilitating faster and more secure transactions. LandBank officials noted that the partnership aligns with the government's push for financial inclusion and digital transformation in public services.
The move is part of broader efforts under the National Retail Payment System to modernize the country's payment infrastructure. By adopting digital payment solutions, the government hopes to minimize leakages and enhance transparency in fund management.