The Rizal Commercial Banking Corp. (RCBC) has entered into a strategic partnership with Cashmallow to enable cardless cash withdrawals in the Philippines for travelers from Korea and other parts of the world and enhance cross-border remittances.
Cashmallow is a fintech company offering innovative global travel money solutions, including cardless cash withdrawals and currency exchange services.
Through its flagship products, MallowLink (a global ATM API aggregator) and the Cashmallow app, the company ensures efficient, low-cost money access for international travelers.
RCBC Transaction Banking Group Head Martin Tirol said that the partnership allows users of MallowLink’s partner institutions, such as Woori Bank Korea, to withdraw cash in the Philippines by simply placing the generated QR Code at RCBC ATMs.
“This cardless service reduces high international transaction fees and offers better exchange rates, providing a more convenient and cost-effective option for international travelers. At the same time, the integration will allow overseas workers to send remittances to the Philippines faster and at more competitive rates than traditional methods. Beneficiaries receive funds instantly, ensuring greater security, speed, and cost savings in international money transfers,” Tirol said.
Currently available to users in Korea, the service will soon be expanded to Hong Kong, Japan and Taiwan, broadening its reach to more international travelers.
“This partnership reinforces our commitment to provide innovative banking services that enhance the travel experience for everyone, especially South Koreans. By collaborating with Cashmallow, we are not only offering convenient and secure access to funds for international travelers but also removing the usual barriers and fees associated with foreign transactions,” Tirol pointed out.
Cashmallow users will have access to 1,482 RCBC ATMs with QR-enabled withdrawal functionality without any fees in major airports across the Philippines. It allows quick and easy access to PH currency. These include multiple locations at Mactan-Cebu International Airport, such as the arrival hall, pre-departure areas, and both north and south wings.
These are likewise available at Laguindingan International Airport in Misamis Oriental, Clark International Airport in Pampanga, and various key areas within Ninoy Aquino International Airport (NAIA) in Metro Manila.
Additionally, travelers can access RCBC ATMs at Puerto Princesa International Airport in Palawan, Daniel Romualdez-Tacloban Airport in Leyte, and Bohol-Panglao International Airport. These airports are pathways for travelers to get their cash for their travels or purchases in the Philippines.
RCBC is one of the largest commercial banks in the Philippines, offering a wide range of banking services including retail and corporate banking, and pioneering digital solutions. With its forward-looking approach, RCBC continuously strives to provide innovative financial services to meet the evolving needs of its customers.
