(Press Release)
As more Filipinos shop and transact online, they have also started to look for more convenient and secure payment options. While consumers have been using online and mobile shopping apps for several years now, the preferred mode of payment tended to be cash-on-delivery until Coid-19 lockdowns and concerns over handling cash made card and e-wallet payments more common.
“While only 1.9% of Filipino adults have a credit card, over 32% have deposit accounts with financial institutions. Most of them would have debit cards, the latest versions of which have the functions that a typical customer would need for their everyday banking needs, including online purchases,” said Jenny Lacerna, BPI Head of Unsecured Lending and Cards.
Due to the rise in fraud attempts and cybersecurity issues, some bank account holders may be hesitant about using their debit cards for their online purchases.
Ideal online payment alternative
Ms. Lacerna said that the BPI Debit Mastercard is a good payment alternative for online purchases, as they are equipped with world-class security features.
“We let the customers choose how they can use their debit accounts through our digital platforms. Our card control function lets them set how much they can spend or withdraw in a day, as well as enable or disable e-commerce and international transactions when not in use,” said Ms. Lacerna.
“For their peace of mind, they can easily enable e-commerce transactions for the time that they are about to make an online purchase and then disable it again once they are done. This ensures that nobody can use their accounts without their consent,” she added.
More safety features
Customers can also access BPI Online or the BPI Mobile app to temporarily or permanently block their cards in case of loss or theft.
BPI Debit Mastercard holders also benefit from card features such as 3D Secure, which protects a buyer’s debit card against unauthorized use when shopping online. It enables buyers to validate transactions made over the internet by requesting a One-Time-PIN (OTP) which is sent to the cardholder’s registered mobile number.
Combined with the BPI Card Control feature, which lets cardholders dictate what their debit card can and cannot do, transactions can be made more secure.
“By giving customers more control over their cards, we are guiding them towards becoming more aware and involved in doing their share in cybersecurity, which is everyone’s concern, especially as more people transact online. Card control lets them transact with more confidence and security,” said Ms. Lacerna.
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