The Bank of Philippine Islands (BPI) is joining the e-wallet game with the release of the VYBE app, which is said to be a lifestyle app that makes digital transactions and banking accessible and more rewarding.
BPI, the second largest bank in the Philippines, said they have 5.6 million online customers who use their services regularly. The company thinks that about half of its digital customers, or about 3 million, will use the new VYBE e-wallet app.
Currently, VYBE is only available to people who use BPI Online. It will work like GCash and Maya in that users must scan QR codes to pay without cash. Transferring money is also free; VYBE users can send or ask other VYBE users for cash.
Since they are both from the same company, BPI users can move money from their accounts to their VYBE accounts for free. Also, when clients do this, they can get reward points when they use BPI products and services. In the VYBE app, you can see these points and use them to buy things.
The company said that people who sign up for their new service would get 1,000 points for free as a welcome gift.
Next year, people who don’t use BPI will also be able to use the service. Withdrawals without a card are also coming in 2023. The app is now available for Android and iPhone users through the Google Play Store and the Apple App Store, respectively.
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