FINANCE | Philippine banks expand contactless payments, real-time banking platforms
Recent announcements from EastWest Banking Corporation and Security Bank Corporation reflect parallel efforts to improve transaction convenience for customers while modernizing underlying systems.
Indoor photo of beautiful japanese young women wearing jacket .shopping in department store. happy holding shopping bags and smartphone. blurred shopping mall on bright large background.full body
Philippine banks are continuing to expand digital capabilities across payments, compliance and core infrastructure as mobile wallets and real-time platforms move further into mainstream use. Recent announcements from EastWest Banking Corporation and Security Bank Corporation reflect parallel efforts to improve transaction convenience for customers while modernizing underlying systems.
While the initiatives differ in scope, both point to a broader industry direction: front-end digital services paired with deeper back-end upgrades designed to support scalability, security and regulatory requirements.
EastWest enables Google Pay for credit cardholders
EastWest has enabled Google Pay support for its Visa and Mastercard credit cards, allowing cardholders with compatible Android and Wear OS devices to make contactless payments using their phones. Customers can add their cards to Google Wallet and use the service for in-store purchases, in-app payments and online transactions without presenting a physical card.
Transactions use tokenization, a security method that substitutes card numbers with encrypted tokens during payment processing. The service works at contactless terminals already deployed across many retail locations and selected transport systems, including MRT-3 turnstiles that accept tap-to-pay transactions.
For online purchases, Google Pay allows checkout without manually entering card details, reducing the number of steps required to complete a transaction. EastWest said support may later be extended to additional card products, including select debit cards, subject to platform rollout and adoption.
The move places EastWest among the earlier local banks to support Google Pay, following recent developments in payments infrastructure and regulatory readiness that have expanded support for mobile wallets in the Philippines. Availability, however, remains dependent on device compatibility, merchant acceptance and customer adoption.
Security Bank advances APIs, compliance, real-time data systems
Security Bank reported progress in its ongoing technology transformation, citing investments in modern system architecture, artificial intelligence, real-time data platforms, cybersecurity and automation. Over the first nine months of 2025, the bank said it streamlined core systems and processes to improve speed, reliability and compliance efficiency.
Its Enterprise API Platform received a Technology Excellence Award for API Banking at the 2025 Asian Technology Excellence Awards. By exposing internal banking functions as reusable and secure APIs, the bank said it can accelerate service deployment and support more consistent digital experiences across channels, while preparing for open banking use cases.
In branch operations, Security Bank’s Transactor Due Diligence platform was recognized as Best Compliance Risk Technology Initiative at The Asian Banker Global Financial Technology Awards. The digitized know-your-customer workflow has been rolled out across 346 branches, replacing paper-based processes and reducing processing time for customer onboarding and compliance checks.
The bank has also implemented an enterprise data streaming platform that shifts data processing from batch-based reporting to real-time streams. Recognized by The Asian Banker as Best Data Integration and Framework Initiative in Asia Pacific, the platform is intended to support faster transactions, real-time analytics and operational monitoring. As with similar platforms, the full impact depends on integration depth and sustained use across business units.
Security Bank said its technology roadmap includes further investments in artificial intelligence and automation for fraud management and operations, advanced cybersecurity and threat monitoring, core banking and payments modernization, API monetization and embedded finance partnerships, and continued digitalization across branches.
Lucose Eralil, executive vice president and chief operating officer of Security Bank, said the bank’s approach focuses on building a secure and scalable foundation to support long-term growth and improved customer experience.
The updates from EastWest and Security Bank illustrate how Philippine banks are addressing two pressures at once: the demand for faster, simpler customer-facing transactions and the need for resilient, real-time systems behind the scenes. While adoption timelines and outcomes will vary by institution, the direction reflects an industry-wide shift toward digital services becoming standard rather than optional.
————————————————————————-
WATCH TECHSABADO ON OUR YOUTUBE CHANNEL:
WATCH OUR OTHER YOUTUBE CHANNELS:
PLEASE LIKE our FACEBOOK PAGE and SUBSCRIBE to OUR YOUTUBE CHANNEL.
PLEASE LIKE our FACEBOOK PAGE and SUBSCRIBE to OUR YOUTUBE CHANNEL.
