• AUB gets license to issue debit cards

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    Listed Asia United Bank (AUB) secured a license from MasterCard, a global leader in the payments industry, to issue debit cards.

    “Issuing a debit card is perfectly aligned with our bank’s mission to offer
    responsive, innovative and value-added products and services. Once we complete this move, our customers can easily conduct transactions without having to carry cash,” Abraham Co, president of AUB, said in a statement.

    For his part, Poch Villa-Real, Philippine country manager of MasterCard, said that he is looking forward to seeing AUB grow its network further through products like this, which promote convenience and security for the brand’s clients.

    “MasterCard is grateful to have been chosen by AUB as its partner for the introduction of its debit cards,” Villa-Real further said.

    Once released, holders of the AUB MasterCard debit card will be able to use their cards to pay for transactions in more than 210 countries and territories where MasterCard is accepted.

    AUB, the banking arm of the Rebisco Group, grew its first-half net income by 37 percent to P817 million as trading and lending activities registered great contributions for the period.

    During the six-month period, AUB’s interest income from loans and treasury assets also surged 25.9 percent to P1.6 billion from P1.3 billion in the same period last year.

    Madelaine B. Miraflor

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