Philippine Savings Bank said the use of its pioneering cardless withdrawal is picking up pace, as average daily transaction jumped 23 percent at the end of the first quarter compared to the average daily transaction recorded at the end of 2017.
Launched in October last year, average daily transaction of cardless withdrawal steadily increased over the six-month period ending March 2018, said PSBank senior vice president for marketing group Noel Tuazon.
From the average daily transaction of cardless withdrawal recorded in October last year, such transactions increased more than four times at the end of December last year. The starting base number in 2018, on the other hand, increased 23 percent at the end of March this year.
“The data only proves that the cardless withdrawal feature pioneered by the bank is relevant to meeting the needs of our customers for a secure online or mobile banking environment that allows them to withdraw cash even without an ATM card,” Tuazon said.
Based on the bank’s data, utilization of cardless withdrawal is particularly high on the 15th and 30th of the month, indicating that clients are using the feature in withdrawing their salaries.
