The digital banking and payments landscape in the Philippines is evolving rapidly, with small and medium-sized enterprises (SMEs) emerging as a focal point for financial innovation.
In a strategic move to better serve this vital sector of the economy, CIMB Bank Philippines (CIMB) has partnered with global payments leader Visa to launch a new business-focused debit card designed specifically for Filipino SMEs.
The product, set for release in the third quarter of 2025, will be linked to a business deposit account and will offer zero transaction fees, free fund transfers, access to a revolving credit facility, and merchant benefits through the Visa network.
This initiative marks a new chapter in SME banking in the Philippines — one that merges digital agility with tailored financial solutions and partnership-driven growth. As SMEs continue to play a critical role in driving the Philippine economy, products like this pave the way for a more inclusive and digitally empowered business landscape.
The partnership between CIMB Philippines and Visa
The partnership between CIMB and Visa brings together two major players with complementary strengths.
CIMB, a digital-first bank known for its customer-focused innovations, has quickly become one of the country’s leading online financial institutions. It has consistently rolled out products that simplify banking for Filipinos, focusing on low-cost, accessible, and high-yield services.
Visa, meanwhile, is a global powerhouse in digital payments, connecting millions of merchants, banks, and consumers across more than 200 countries. Its experience in developing SME-focused financial solutions worldwide gives it the expertise to craft a product tailored to the Philippine market.
Under the agreement, CIMB will issue a new Visa-branded business debit card that complements an upcoming business deposit account. This product suite aims to provide SMEs with end-to-end financial tools — from managing operational expenses and improving cash flow to earning competitive interest on deposits.
The card will be linked to a high-interest business savings account that eliminates common banking costs, allowing entrepreneurs to focus resources on growth instead of fees.
For Visa, the partnership is part of a broader regional strategy to expand financial inclusion among small businesses. By teaming up with a digital-first bank like CIMB, Visa gains a direct channel to reach SMEs underserved by traditional banks.
For CIMB, the collaboration reinforces its position as a key player in the Philippine fintech ecosystem, expanding its reach beyond retail customers to small business owners who need modern, affordable banking tools.
Ultimately, this partnership represents a shared commitment to make banking simpler, more transparent, and more accessible for Filipino entrepreneurs.
What the new business debit card offers SMEs
The new business debit card is more than a payment tool — it’s a comprehensive financial solution built for the daily realities of SMEs.
Among its key features are:
• Zero transaction and maintenance fees. The card offers zero transaction fees and free fund transfers, removing one of the biggest barriers for SMEs that often struggle with high banking costs. This makes it easier for business owners to manage payments and transfers without worrying about additional charges.
• High-interest business savings account. Unlike traditional business deposit accounts that provide minimal returns, the CIMB–Visa business account will offer competitive interest rates, allowing businesses to maximize idle funds and turn deposits into an income-generating resource.
• Access to revolving credit. One of the card’s standout features is its built-in access to a revolving credit facility. For many SMEs, cash flow fluctuations make it difficult to cover operational expenses or seize sudden opportunities. With access to flexible credit, business owners can bridge short-term gaps without resorting to high-interest loans or informal lenders.
• Exclusive merchant perks. Cardholders will enjoy special privileges and discounts at select Visa merchants. These can translate into savings on travel, logistics, office supplies, and software tools, helping SMEs reduce operational costs while enjoying global payment convenience.
Together, these features make the CIMB–Visa business debit card a powerful tool for day-to-day business management. It addresses key pain points for SMEs — high banking costs, limited access to credit, and low savings returns — while promoting better financial planning and discipline.
Its digital-first design also means entrepreneurs can manage their accounts anytime, anywhere via CIMB’s mobile banking app — a crucial advantage for small business owners who juggle multiple responsibilities and need to handle finances on the go.
Implications for SME financial inclusion in the Philippines
SMEs remain the backbone of the Philippine economy, accounting for over 99% of business establishments and providing millions of jobs nationwide. Yet many of these enterprises still struggle to access formal financial services.
Traditional banks often require lengthy documentation, high maintaining balances, and rigid processes, discouraging small business owners from opening accounts or applying for credit. As a result, many SMEs rely on informal financial systems, limiting their growth and increasing their vulnerability to economic shocks.
The CIMB–Visa partnership aims to change that by introducing a banking product designed around the realities of small businesses. The zero-fee model and free fund transfers remove cost barriers, while the high-interest savings account encourages disciplined saving and capital growth.
The revolving credit feature is another game-changer, giving SMEs a safety net for managing cash flow disruptions— whether for paying suppliers, restocking inventory, or covering emergency expenses. By integrating this into a debit product, CIMB and Visa are offering a hybrid solution that combines the strengths of savings, payments, and credit.
This initiative also supports the Bangko Sentral ng Pilipinas (BSP)’s Digital Payments Transformation Roadmap, which targets converting 50% of retail transactions to digital and onboarding 70% of Filipino adults into the formal financial system. Products like the CIMB–Visa business debit card directly advance this mission by promoting cashless payments and empowering entrepreneurs to manage their businesses digitally.
Furthermore, maintaining a digital banking relationship with a licensed institution like CIMB enables SMEs to build financial credibility, generating transaction histories that could help them qualify for larger credit lines or government support programs in the future.
The collaboration also reflects a broader trend across Asia, where digital banks, fintech firms, and global card networks are joining forces to create customized financial products that fill critical market gaps.
Moving Filipino SMEs forward
The launch of the CIMB–Visa business debit card is a forward-looking move that underscores the growing sophistication of the Philippine fintech sector. It meets both the immediate and long-term needs of small businesses— from cost efficiency and convenience to liquidity and growth potential.
For entrepreneurs, it’s more than a banking product — it’s a gateway to modern financial empowerment. For CIMB, it reinforces its role as a digital banking pioneer dedicated to innovation and inclusion. For Visa, it strengthens its global mission of enabling secure, accessible, and inclusive financial ecosystems.
As the Philippine SME sector continues to recover and evolve post-pandemic, partnerships like this will be crucial in driving entrepreneurship and innovation. By combining CIMB’s customer-centric approach with Visa’s payment technology, this initiative sets a new benchmark for collaboration in the fintech space.
Ultimately, the CIMB–Visa partnership is a win for Filipino entrepreneurs, offering the financial tools, flexibility, and digital convenience they need to thrive in an increasingly connected economy.
