Security Bank launches digital platform for credit card rewards
SECURITY BANK Corp. has unveiled a digital platform where its cardholders can manage and redeem their rewards.
The bank’s BetterBanking Rewards platform allows its credit card users to track and use their points in real time. Cardholders can also pay with their rewards points globally at any location that accepts Mastercard or convert their points into rewards with over 100 airline miles and hotel loyalty programs.
“It’s actually the first of its kind with Points Exchange and Pay with Rewards features. So, essentially, you can actually use your points to purchase anything anywhere in the world where Mastercard is accepted through Pay with Rewards. You can do it pre-purchase or post-purchase as a purchase eraser,” Security Bank Vice-President and Unsecured Lending Product and Communications Head Maricar Filart said at a briefing on Monday. “And then, Points Exchange enables our customers to transfer their points to the loyalty program points of the biggest brands across different categories from airlines, hotels, and lifestyle.”
“If you look at other rewards programs, there are other channels where you have to inquire, then you have to redeem in another channel. Here, you’re doing everything on the web, and you’re accessing that through the app.”
The bank is also looking to expand the platform to include services related to the other products it offers.
“Since we are looking at it from a total bank perspective, we’re starting work on including other products… Meaning, if you have other relationships with Security Bank like deposits or secured lending, maybe in the future we can also look at including them so that we reward our customer for the total relationship that they have with Security Bank,” Security Bank Senior Vice-President and Chief Marketing Officer Patricia N. Tan said.
The bank’s net income grew by 7.85% year on year to P3.04 billion in the second quarter, bringing its first-half earnings to P5.86 billion, up by 7.59%.
Security Bank’s shares declined by 65 centavos or 0.96% to end at P68.25 apiece on Monday. — Aaron Michael C. Sy
