Digital banking services provider CIMB Bank PH has recently launched CIMB Virtual Card, a unique virtual card powered by its revolving credit product REVI Credit.
Through the virtual card, REVI Credit users can now shop online without using a physical card in any Visa-accepted online merchants. This includes various e-commerce platforms, food deliveries, travel bookings, and many more.
No annual fees are required for the virtual card.
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The card is supported by fraud monitoring and prevention tools and capabilities. There is also no corresponding physical card through which their account details can be compromised. Users can also only access the card’s details after keying in their MPIN on the CIMB Bank PH app.
CIMB Bank PH launched REVI Credit for all CIMB customers in December 2021. As a fully digital revolving credit product, clients can get a credit line of up to P250,000, at interest rates as low as 1%, and with no annual fees. As of July 2022, CIMB Bank PH, through REVI Credit, has extended a cumulative credit limit of P4.3 billion since the product’s launch.
“When we launched REVI Credit, it was a revolutionary product that enabled Filipinos to get easy and flexible access to credit. The natural next step was for us to make REVI also available for online purchases and transactions, especially as a digital banking services provider,” said Vijay Manoharan, CEO, CIMB Bank PH. “With the launch of our Virtual Card, REVI Credit users can do just that. They will be able to get the most out of their credit lines and ultimately, use it to fuel their life’s passions and purpose.”
The CIMB Virtual Card is available for all REVI Credit users by activating their cards on the CIMB Bank PH app. REVI Credit users will also get 0% interest on transactions made using their CIMB Virtual Cards when they pay on time this month. CIMB Bank PH customers can apply for a REVI Credit account through the CIMB Bank PH app.