The Rizal Commercial Banking Corporation (RCBC) has rolled out its “Tap-to-Phone” app, a mobile payment solution that allows micro, small, and medium enterprises (MSMEs) to accept cashless transactions using only a smartphone.
The app utilizes near-field communication (NFC) technology to convert smartphones into payment terminals, eliminating the need for point-of-sale devices.
RCBC president and CEO Reginaldo Cariaso said the innovation is the first of its kind in the Philippines, signaling a major step forward in digital financial inclusion.
Merchants can enroll online through RCBC’s Merchant Onboarding platform by submitting the required documents. Once approved, they can set up the app on their smartphones, with RCBC branches and training sessions available to guide business owners and staff.
Apart from enabling contactless payments, the Tap-to-Phone app also provides e-receipts via QR codes, faster settlement processes, a merchant portal for accounting, and 24/7 customer support.
While onboarding is free, a fixed Merchant Discount Rate (MDR) applies to every approved transaction. Businesses are not required to have an RCBC account, as settlements can also be processed through other banks. The onboarding process takes about seven to ten working days.
The launch, held in partnership with Mercato Centrale, highlighted RCBC’s push to strengthen small businesses.
“The RCBC Tap-to-Phone is a way to bring more people into the formal economy, to open doors that have been closed for too long to help our small businesses grow stronger, earn faster, and serve better,” Cariaso said.
