The Land Bank of the Philippines (LANDBANK) announced that starting 01 June 2022, customers will enjoy significantly lower transaction fees when making online payments using the Link.BizPortal digital payment platform.
LANDBANK reduced the LinkBiz transaction fees for LANDBANK and Overseas Filipino Bank (OFBank) ATM Account and Prepaid Cardholders from P15.00 to P7.00 per transaction.
Customers who use the LANDBANKPay—LANDBANK’s recently launched all-in-one mobile wallet—will also be charged P7.00 per LinkBiz transaction, with additional P2.00 rebate. Transaction fees using other payment options, except over-the-counter cash and credit card payments, will also be reduced from P25.00 to P17.00.
The fee adjustment is in line with LANDBANK’s commitment to provide accessible financial services to meet the diverse and growing needs of customers, and advance financial inclusion in the country.
“We continue to encourage our customers to make cashless payments in a convenient, safe and cost-effective manner. The lowered LinkBiz transaction rates form part of LANDBANK’s contribution towards building a cash-lite society,” said LANDBANK President and CEO Cecilia C. Borromeo.
The Link.BizPortal is LANDBANK’s web-based payment channel that allows clients to pay for products and services online to over 870 government and private partner merchants nationwide.
The use of LANDBANK’s digital channels continues to rise as more customers perform their banking and financial transactions online.
For the first three months of 2022, the LANDBANK Link.BizPortal facilitated 660,490 transactions with value of P1.39 billion, representing increases of 37% and 41%, respectively, year-on-year.
LANDBANK’s digital transformation fully supports the National Government’s digital and financial inclusion agenda in line with its expanded mandate of serving the nation. (LANDBANK)
