Visa, a digital payments processor, and CIMB Bank Philippines, a digital-only commercial bank, have formed a partnership to improve banking services for small and medium enterprises (SMEs) in the Philippines.
The collaboration will integrate Visa’s global payment technology with CIMB Bank Philippines’ digital services to offer SMEs better financial solutions. This builds on their initial partnership in 2023, which focused on expanding financial access for Filipinos.
“SMEs have unique and personalized needs that require bespoke solutions,” said Jeffrey Navarro, country manager for Visa Philippines. “By utilizing Visa’s global network and expertise, and CIMB’s digital leadership, we are committed to seizing this opportunity to serve the unique needs of SMEs and provide tailored solutions to facilitate their growth and success.”
As part of the agreement, CIMB will introduce a Visa Business Debit Card in the third quarter of 2025. This card will be linked to a high-interest business savings account, offering zero fees, free fund transfers, insurance options, and a revolving credit facility. These services are designed for micro and small enterprises, with plans to extend to larger businesses in the future.
CIMB Visa Business Debit Card
SMEs account for 99.6% of businesses in the Philippines and play a key role in job creation and economic growth. Recognizing their importance, Visa and CIMB Bank Philippines aim to provide digital banking solutions that support SME expansion.
The partnership will also grant CIMB Visa Business Debit Card holders exclusive discounts and benefits at select Visa merchants. This initiative aligns with the Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap, which aims to make 50% of retail transactions digital.
“Our partnership with Visa is part of our maiden foray into the SME segment and helps enable us to offer enhanced payment solutions that are secure, convenient, and specifically designed to support the growth and financial health of SMEs,” said Vijay Manoharan, CEO of CIMB Bank Philippines.