Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech is gaining ground as a preferred disbursement platform of Filipinos for social aid, loans proceeds, dividends, and other digital payments.
In the last two months, DiskarTech averaged 83% in month-on-month growth in volume of received funds from Social Security System (SSS).
Value of cash disbursements by the state-run insurer to DiskarTech also grew an average of 77% in the last two months, from March to April and April to May.
Meanwhile, real-time crediting of dividends payments of Manila Electric Company (Meralco) is now available for stockholders who appoint DiskarTech as their settlement account.
Power utility giant and RCBC Stock Transfer Agency have automated the distribution of dividends to stockholders, eliminating the need for physical checks, through the Cash Dividend Direct Credit Program (CDDCP).
The safe, secure, and efficient payment option can be enjoyed in real-time by stockholders by nominating DiskarTech as their settlement account. Meralco shareholders need only accomplish the CDDCP form to enjoy this service. Application details and forms can be accessed at www.rcbc.com/stocktransfer
“Filipinos are finding more and more use for DiskarTech in their daily lives. Through our partnerships with different government agencies and the private sector we are able to make RCBC’s digital transformation work for everyday Filipinos,” said RCBC President and CEO Eugene Acevedo.
Since the start of community quarantines in March 2020, RCBC has disbursed P14.8 billion in government aid subsidy of the Department of Social Welfare and Development and the Department of Labor and Employment to over 4.11 million households or over 20.56 million individuals.
Disbursed funds to DiskarTech basic deposit accounts earn 3.25% annual interest. Each account has a cap of P50,000, as mandated by the Bangko Sentral ng Pilipinas.
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