BDO Pay now available to non-clients

BDO UNIBANK, Inc. has updated its BDO Pay app to give access to non-clients in a bid to support the Bangko Sentral ng Pilipinas’ (BSP) goal to increase the adoption of digital payments in the country.

“BDO Unibank has made the BDO Pay mobile app available to non-BDO clients to support the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas, which aims to have 70% of Filipino adults to have formal financial accounts by 2023,” the lender said in a statement on Monday.

“The development of the BDO Pay mobile app is part of BDO’s strategic move to introduce customers to the bank’s wide-ranging products and services, and at the same time deliver a customer experience that is simple and reliable,” it added.

With the update, anyone will be able to sign up for a BDO Pay account via a smartphone and will just need a government-issued identification card.

A BDO Pay account does not require an initial deposit or maintaining balance, which BDO said makes it ideal as a starter bank account for those in rural or remote areas of the country.

The app allows clients to make transactions and manage their finances online. Users can send money to BDO and non-BDO accounts, with other services offered including request money, split bill, pay bill, and QR payments.

“Additional features will be rolled out to further promote e-wallet usage in the country,” BDO said.

The BSP wants digital payments to make up 50% of the total value and volume of transactions in the country by 2023.

BDO’s net income rose by 13% year on year to P11.7 billion in the first quarter of 2022, driven by higher loans and interest income.

The bank was the largest commercial lender in the country in asset terms with P3.5 billion as of end-March.

BDO shares closed at P121 apiece on Monday, rising by 30 centavos or 0.25%. — K.B. Ta-asan