UnionBank rolls out NFC payment feature on its app – BusinessWorld Online
UNION BANK of the Philippines, Inc. (UnionBank) has launched the Mobile Tap to Pay feature on its online application, letting its users make contactless transactions using a near-field communication (NFC)-capable Android device.
Users of the bank’s mobile app can now pay by just tapping their mobile device linked to their UnionBank Visa debit or credit card at Visa contactless terminals worldwide, eliminating the need to use their physical cards.
The feature can be launched directly from the UnionBank online app’s login screen upon activation and can be accessed after biometric authentication. It can be set up and activated via the app.
“With Mobile Tap to Pay, UnionBank is elevating the everyday payment experience for Filipinos. This isn’t just a new feature — it’s a customer-first innovation that brings security, speed, and simplicity of making payments directly via our mobile app. By making digital payments as effortless as a tap without the need to bring out the physical debit or credit card, we’re empowering our customers to move through their day with confidence and ease,” UnionBank Chief Marketing & Experience Officer Albert C. Cuadrante said in a statement.
“Whether it’s a quick coffee run, a spontaneous purchase, or a fast-paced commute, Mobile Tap to Pay is designed to keep up with our customers’ lives — making every transaction seamless and stress-free,” Mr. Cuadrante said.
Users can also link or unlink their preferred debit or credit card for their payment needs via the app.
UnionBank added that transactions are protected by Visa’s tokenization technology, which replaces their card details with a unique, encrypted code.
“This ensures critical information remains secure and is never stored or shared with merchants.”
UnionBank saw its net income fall by 40.54% to P1.82 billion in the second quarter. This brought its profit for the first half to P3.25 billion, down by 38.86%.
Its shares went down by 10 centavos or 0.33% to close at P30.10 apiece on Monday. — A.M.C. Sy
