The digital banking platform of UnionBank of the Philippines is set to launch new banking products and services to position itself as a digital bank.
During the lender’s Tech Up Expo in Taguig City on Thursday, UnionBank Senior Vice President Paolo Eugenio J. Baltao announced that EON, the lender’s digital banking platform, will launch banking products and services such as quick response (QR) code-based payment platform, rewards program for small-scale businesses as well as car and gadget loans.
“We have other services that we will launch such as POW! wherein you can pay via QR code,” Mr. Baltao told reporters.
Unlike the other QR code-based payment schemes such as PayMaya and GCash, Mr. Baltao said that POW! enables merchants to reverse any transaction through the use of a void code.
“Unlike GCash and Paymaya where you still have to call them to reverse the transaction, you can do it real-time in case the merchant gave the wrong amount,” Mr. Baltao said in Filipino.
Aside from this feature, POW! also issues a printed receipt for the customers.
“Another one is ubycash, which is our rewards program. We came up with a rewards program that will cater to the small merchants.” Mr. Baltao added.
Through ubycash, small-scale businesses can now have their own rewards program for customers. With the use of ubycash, customers can avail of a rewards card which can be used to avail discounts and rewards to EON’s partner-merchants. — Karl Angelo N. Vidal

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