Tuesday, August 11, 2020

First batch of Parana-cash assistance distributed via EON cards

EON by the Union Bank of the Philippines (UnionBank) continues to deliver solutions designed to make essential banking services as accessible to as many people as possible, leveraging technology, innovation, and co-creation to enable inclusive prosperity for every Filipino.

This commitment to democratizing financial services was once again showcased through a recent partnership with the City Government of Paranaque, in line with the disbursement of cash assistance to its citizens under the Paraña-Cash Assistance Program last August 5.

With the help of UnionBank’s Bank on Wheels (BOW)—a 5G-enabled mobile banking kiosk in a mobile van that enables cash withdrawal, balance inquiry, fund transfer, and bills payment—the Paranaque City government distributed COVID-19 cash relief to the first batch of more than 50,000 beneficiary households, who were each provided with an EON VISA card containing funds worth P5,000. The cards were then used by the beneficiaries to withdraw funds from BOW’s full-feature ATM facility.

Aside from ensuring that the cash assistance is provided to the families safely, the issuance of EON VISA cards gives the new account holders access to EON’s expansive suite of digital financial services such as top-ups, encashments, and online shopping payments, providing them with a secure and seamless experience when it comes to their daily financial transactions.

Through this partnership, EON effectively onboards thousands of unbanked Filipinos into the country’s banking ecosystem, which in turn links them with countless financial institutions across the country, from universal and rural banks to remittance centers and everything in between.

The recent team-up with the City of Paranaque is just one of EON’s many partnerships. Earlier this year, EON partnered with the Public Safety Savings and Loan Association (PSSLAI), Inc. to help with the disbursement of loan proceeds to more than 250,000 PSSLAI customers. EON also partnered with non-profit LIGHT Microfinance, Inc. to provide a secure way of distributing loans to the latter’s more than 150,000 partner clients.

To learn more about EON’s features as well as its other partners, visit the official website at www.eonbankph.com.

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