MANILA, Philippines - Citi and Home Development Mutual Fund (Pag-Ibig) have teamed up to introduce a prepaid card for the latter's members.
The Pag-Ibig Citi Prepaid Card is initially being offered to fund members as an option for the disbursement of proceeds of its multi-purpose loans or calamity loans.
"Citi is pleased to partner with the Home Development Mutual Fund and offer Pag-Ibig members the choice of receiving their loan benefits via a prepaid card. It's certainly a more secure alternative to carrying cash, plus with a three-year validity, the card can be reloaded should the owner avail of another loan during that period," said Mylene Caparas, Country Head of Citi Transaction Services for the Philippines.
Having a prepaid card is expected to make it more convenient and safe for members to avail of their loan proceeds.
Pag-Ibig members may sign up to avail of the card upon filing their loan applications. The loan proceeds will be credited to the Pag-IBIG Citi Prepaid Card. The member can use the card to shop at over 130,000 Visa accepting merchants nationwide and withdraw cash at any local ATM.
"Our partnership with Pag-IBIG and Citi is just one of the many initiatives that showcase our commitment in providing cardholders with safe and convenient ways to make transactions, as well as extend the many benefits of Visa to a wider range of Filipinos," said Iain Jamieson, Visa Country Manager, Philippines and Guam.