MANILA, Philippines - Leading credit card issuer Metrobank Card Corp. has introduced a card-based payment system in its efforts to contribute to financial inclusion in the country.
Metrobank Card has launched “YAZZ” card, a reloadable prepaid card that will enable cashless transactions in various stores and automated teller machines (ATMs) nationwide.
YAZZ, the first prepaid card offered by Metrobank Card, can be used even without access to typical banking services and will allow customers to enjoy the perks of an ordinary credit card, without the need for a bank account and credit evaluation.
The YAZZ card primarily targets the youth, young working professionals and individuals who cannot meet the minimum balance requirements of banks.
Metrobank Card president Riko Abdurrahman said the YAZZ card aims to contribute to safety and security of its customers because handling cash nowadays is not safe anymore.
“This is also our contribution to the desire of the government to push for financial inclusion,” Metrobank Card senior vice president Aloy Alday added.
The YAZZ, which is a millenial term for “Yes,” will function similar to how prepaid phone works. Starter kit will cost P300 with an initial load worth P50.
A P20 fee will be charged per loading and withdrawal, while consumers can avail of the maximum P10,000 load per day and aggregate monthly purchases of up to P100,000.
The YAZZ card is good for five years and can be availed starting October in Metrobank branches, MRT stations, malls and supermarkets among others.
Furthermore, the YAZZ card will be available in different provinces in the country such as Cebu and Davao.
The YAZZ card is the newest addition to the bank’s line of cards, in celebration of its 30th year of operations in the Philippines.