EastWest Pay: One step forward towards a cashless society

EastWest Pay: One step forward towards a cashless society

The financial sector is continuously evolving as technology makes financing more convenient. As we live in an age where people prefer doing everything online, including shopping, paying bills, financial and cashless transactions, and so on, banks are revolutionizing financing by adopting digital solutions at the heart of their operations.

An established universal bank, EastWest has successfully adopted digital banking innovations to make it easier and more convenient for every customer. The Bank’s digital shift aims to transform its operations, making them stronger and more capable of providing banking and financial services. For instance, EastWest’s new and upcoming digital banking platform promises “enhanced security, intuitive design and better performance with improved features and capabilities,” which are designed to cater to their customers’ needs and behavior.

In the Bank’s pursuit to provide more innovative solutions, EastWest has partnered with Visa to provide customers an alternative way to pay and transact easily, safely and securely. This partnership resulted in EastWest Pay, the country’s first near-field communication (NFC)-powered mobile payment application that enables EastWest Visa credit cardholders, such as Visa Infinite, Visa Platinum, Visa Gold, and Visa Classic, to use their Android smartphones instead of their physical credit cards for cashless and cardless transactions.

They simply need to download the EastWest Pay app, register or link their EastWest Visa credit cards and tap to pay at merchant’s Point of Sale (PoS) — here and abroad or wherever the Visa payWave/NFC symbol is available. Unlike other mobile wallets, there’s no need to load or cash-in anymore, since users can spend up to their EastWest Visa credit cards’ available credit limit.

Another great thing about this mobile app is that it ensures security for its users by requiring mobile verification and assignment of a 6-digit passcode upon registration. Moreover, users have the option to safely log in via biometrics (i.e., fingerprint and facial recognition). Transactions made through EastWest Pay are tokenized for added security, where it uses token numbers instead of the credit card’s actual card number.

“EastWest Pay takes banking to a whole new level of simplicity and efficiency. Your life is dynamic and fast-paced, and we want your banking experience to bring you to even greater heights,” says EastWest President Jacqueline S. Fernandez. “With EastWest Pay, you will discover that there’s an even easier way of doing things,” she adds.

In addition to being a mobile wallet that enables users to pay for everything with a device that they carry around everyday, EastWest Pay also lets users manage their EastWest Visa credit cards. For instance, they can access their account details and transaction history, track their spending behavior, and also temporarily lock and unlock their card.

With EastWest Pay, EastWest has provided a tech-innovative solution that promotes a cashless society. This is just one of several innovations from EastWest in their commitment to continuously improve products and services and promote easy banking for their customers. Jerry Ngo, EastWest’s CEO shares that the Bank has “unlocked new possibilities, redefined the banking landscape, and embarked on a journey of continuous innovation.” He reveals, “we are only just beginning, and you can expect more from us in the coming months.”

The EastWest Pay app is available for download on Google Play store for NFC-capable Android devices and exclusive to EastWest Visa credit cards.

East West Banking Corp. (EastWest) is a Filipino-owned universal bank. EastWest is a subsidiary of Filinvest Development Corp. (FDC), one of the country’s leading conglomerates with a diverse range of interests including real estate, banking, hospitality & tourism, infrastructure power generation, and sugar. It is not affiliated with any foreign financial institution which may bear the same name.

For inquiries and feedback, you may chat with EastWest System Tech Assistant chatbot at www.ewlend.com/esta, call the EastWest 24-Hour Customer Service Hotline at (+632)8888-1700, or e-mail cards@eastwestbanker.com. EastWest is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph.

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Erika Mioten