Gokongwei-backed digital bank GoTyme to offer global debit card

Jekki Pascual, ABS-CBN News

Posted at Sep 06 2022 08:51 PM

MANILA - The Gokongwei Group's digital bank GoTyme has announced a new debit card that can be used globally, as part of the company's effort to reach unbanked Filipinos.

Albert Tinio, Co-CEO and co-founder of GoTyme said the debit card is in partnership with Visa and Bancnet, which means it can be used in thousands of ATMS nationwide as well as millions of point-of-sale terminals worldwide. 

GoTyme, a partnership of Gokongwei Group and the Singapore-based Tyme, is among six digital banks given a license by the Bangko Sentral ng Pilipinas. 

The bank hopes to use the resources of the Gokongwei Group to reach more Filipinos. The Gokongwei Group includes Robinsons Malls, Cebu Pacific, Universal Robina Corporation among many others.

"Bringing this kind of technology and leveraging this partnership with a huge retail conglomerate," said Tinio as they plan to put up GoTyme kiosks in Gokongwei-owned establishments like malls and department stores.

The digital bank and the debit card feature will be formally launched in the coming months.

"That marriage of Tyme and the Gokongwei Group. It's about time, pardon the pun, to democratize the financial services industry," said Tinio.