LandBank To Issue QR Code Cards To Beneficiaries Of Gov’t Cash Aid

The Land Bank of the Philippines announced plans to issue QR code cards to beneficiaries of national government social amelioration programs, ensuring more convenient and secure cash aid disbursement.

Landbank has partnered with Traxion Pay, a fintech firm, signing a memorandum of agreement to implement this new payment option. I Image: Land Bank of the Philippines Facebook

These cards will provide beneficiaries an alternative means to receive and access funds immediately, ensuring timely assistance from government agencies, especially during emergencies and special subsidy payouts.

Landbank has partnered with Traxion Pay, a fintech firm, signing a memorandum of agreement to implement this new payment option.

Traxion will provide technology solutions for QR Ph person-to-person and person-to-merchant payments, complementing LandBank's digital banking solutions for seamless fee and charge collection by government agencies.

"As our newest fintech-enabling partner, Traxion’s technical expertise will be invaluable in implementing our plan to integrate QR code functionality into our cards to facilitate convenient, seamless, and secure cash disbursements," said LandBank President and CEO Lynette Ortiz.

"We expect to further accelerate our efforts to promote QR Ph code-enabled person-to-person and person-to-merchant payments with our partnership."

The partnership also includes onboarding more than 200 Traxion partner cooperatives to the LANDBANKasama Program, boosting the bank’s reach in rural areas.

The LANDBANKasama Program partners with cooperatives, associations, rural banks, local government units, MSMEs, and private entities to provide basic banking services such as cash withdrawals, deposits, fund transfers, bill payments, and balance inquiries on behalf of the bank.

LandBank emphasized that integrating QR functionality and other digital upgrades is currently in the exploratory stage.

Ann Cuisia, Founder and CEO of Traxion, stated, "With Traxion's end-to-end digital banking and payment solutions, LandBank can leverage the latest advancements in hybrid technology to serve all customer types, across generations, and locations. The extensive technology deployed will reduce the cost of doing business, extend LBP’s agency banking activities, and empower the enablers that Traxion has been supporting."