Update on Landbank Mobile App – Now with ‘Contactless’ Feature
LANDBANK MOBILE APP – Users of the app of the Landbank of the Philippines may now enjoy “contactless” payments through the QR code.
Technology has undeniably come a long way and it plays a major role in different fields and industries across the globe. In the Philippines, one of the fields that the advancement in technology is helping is the banking industry. There are now several digital banks in the country.
Previously, Bangko Sentral ng Pilipinas (BSP) has approved the operation of at least six (6) digitals banks in the country. These are OFBank, GoTyme, UnoBank, Union Digital, Tonik Bank, and Maya Bank. BSP stressed that these banks, alongside conventional banks, can greatly help in the recovery of the economy of the country.
Aside from digital banks, another beneficial thing brought by technology is contactless payment transactions through QR codes. Based on a report on ABS-CBN News, it is now available on Landbank mobile app.
Landbank of the Philippines, a government bank in the country, adopted the QR Ph person-to-merchant (P2M) feature of BSP. It is designed to speed up digital transactions in the country.
In its statement, Landbank President and CEO Cecilia C. Borromeo stressed that it is one with the central bank in boosting the convenience and reliability of making and receiving payments “through the national QR code standard or QR Ph”.
Borromeo stressed the pursuit of the banking management to continue providing ways for clients’ safety amid the pandemic now thus they decided to adopt the contactless payment feature. Aside from the convenience and safety that the QR code promotes, the Landbank President also said that it is “cost-effective” and it lessens the errors in encoding.
According to the government bank, the use of its mobile app increased greatly during the first three (3) quarters of 2021. Many people now prefer doing transactions using their laptops or mobile phones as it saves money, time, and energy apart from the convenience and safety that it promotes.
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