From
meeting new friends to learning new things, students have a lot to look forward
to as soon as they enter the university. However, much is also expected from this
new generation.
As young
adults who will soon help grow the country’s economy, it is important that
these individuals are educated, empowered, and financially literate. And taking
the lead to begin their financial journey, RCBC ties up with Mapúa University to
introduce a dual purpose MyWallet–Mapúa ID to all its freshmen students for the
upcoming academic year.
The
Yuchengco-led bank innovates the typical school ID to double as a prepaid card
that students can use to pay for everyday necessities and for transactions
inside or outside of Mapúa. This new system will pave the way for both RCBC and
the university to build a digital ecosystem that includes the students.
“A
big part of the unbanked and underserved market are the college students who do
not have their own bank accounts or who are not yet qualified to get their own
payment cards. We want to change that and teach them money management and good
financial habits, starting with the RCBC MyWallet–Mapúa ID card,” said Margarita Lopez, Digital
Banking Group head.
The
RCBC MyWallet-Mapúa ID card both serves as the students’ admission to the
school’s premises as it contains their identification details and as a prepaid
card which can be used to pay for their tuition and other school-related
purchases. The card also provides parents a more secure way to transfer their
child’s allowances; and a means for students to store and build their
savings.
Other
students can also enjoy the benefits of a MyWallet Visa Prepaid Card. They
simply need to go to any RCBC branch nationwide and fill-out the enrollment form,
present a valid ID, and pay a P150 fee to start enjoying the convenience of
cashless transactions in their school, online shopping and 24/7 online access
via RCBC Online Banking.
