The Palawan Group of Companies has rolled out a new digital savings feature, “PalaSave,” through its PalawanPay app in partnership with RCBC DiskarTech, aiming to make saving more accessible for Filipinos across both urban and rural communities.
The feature is integrated into PalawanPay, allowing users to open and manage savings accounts directly within the app — without requiring an initial deposit or maintaining a minimum balance.
Users can begin saving with as little as ₱200 in subsequent deposits and earn up to 4% annual interest, while enjoying fee-free transfers and flexible access to funds.
Photo shows (from left:) RCBC executives namely, Jose Carlo Eufemio, FVP, Go-To-Market & Growth Division Head; Angelito Villanueva, EVP, Chief Innovation & Inclusion Officer; Reginaldo Cariaso, President & CEO; Helen Y. Dee,
Chairperson; alongside Palawan Group executives, Bobby L. Castro, Founder & Chairman; Karlo M. Castro, President & CEO; Lilian Castro-Selda, CFO; and Third S. Librea, PalawanPay President & CEO.
The launch reflects a growing push among Philippine financial institutions to deepen financial inclusion by lowering traditional banking barriers, particularly for unbanked and underbanked segments such as informal workers, vendors, drivers, and younger digital-first users.
“For many years, Filipinos have trusted Palawan Group not only for money transfers, but also for a wide range of financial services,” said Karlo M. Castro. “With PalaSave, we are extending that trust by enabling them to save and grow their hard-earned money in a more accessible way.”
He added that the initiative builds on the company’s broader ecosystem, which includes remittance, pawning, microinsurance, and other financial services designed to support everyday financial needs.
The platform is designed to blend digital convenience with physical access, leveraging Palawan Group’s nationwide network of branches and outlets alongside RCBC’s digital banking infrastructure.
“Saving is a fundamental financial habit, but it remains out of reach for many Filipinos due to traditional banking requirements,” said Lilian Castro-Selda. “PalaSave is designed to remove those barriers and encourage more consistent saving behavior.”
RCBC expands banking access via embedded savings
IMAGE CREDIT: RCBC
On the banking side, RCBC emphasized the scale and significance of the integration, noting its role in expanding formal financial access.
“This is not just a new feature — it represents a shift in how banking services are delivered,” said Reginaldo Cariaso. “By embedding savings capabilities directly into PalawanPay, we are enabling millions of users to access formal financial services without needing to visit a branch or download a separate app.”
He added that the rollout marks one of RCBC’s early implementations of banking-as-a-service at scale, targeting PalawanPay’s estimated 20+ million user base.
Industry executives also highlighted the importance of combining digital platforms with on-the-ground access, particularly in rural areas where trust and human support remain key to adoption.
“Digital services alone are not sufficient; access must be supported by trust,” said Lito Villanueva.
The launch comes amid continued efforts by Philippine financial players to expand digital adoption among underserved populations, many of whom remain outside the formal banking system despite strong demand for savings tools.
With PalaSave, PalawanPay is positioning itself as a more integrated financial platform—bridging remittance, payments, and now savings—while reinforcing the broader industry shift toward embedded, everyday financial services.
The PalaSave feature is now available via the PalawanPay app on Google Play, Huawei AppGallery, and the Apple App Store.
