Manong Chavit pushes economic inclusivity with VBank launch

Senatorial aspirant Luis “Chavit” Singson on Sunday launched VBank during the Blackout Festival in Quezon City, saying he wants to foster financial inclusion for more Filipinos with the digital banking app.

Singson said he has no qualms positioning VBank as a competitor to fintech or financial technology giants.

“Seventy percent of Filipinos still don’t have bank accounts. Our economy is not moving because money revolves outside our country. All should be financially included,” he said in a mix of Filipino and English.

In addition to VBank, Singson also launched the 58-Day Milyun-Milyong Papremyo, a campaign offering rewards and opportunities to communities across the country.

Likewise, the former Ilocos Sur governor introduced the VCard, a payment card powered by Visa and Mastercard.

“You don’t have to get the VCard from a branch. We will send it to your doorstep with safeguards. We will collaborate with local government agencies to roll this out,” Singson assured.

On Saturday, Singson told reporters in Calasiao, Pangasinan, where he served as guest of honor of the town festival, that he introduced VBank to provide the masses with an account without the hassle of ever going to the bank.

“You usually go to the bank and present various identification cards and documents before they could process your account. In VBank, a selfie photo is enough),” he said.

The renowned businessman said that VBank aims to provide a platform for the masses that even with those working with minimum wage can save their money there.

The goal, he said, is to remove the money from the hand and put it into an online account, and make it into a habit of saving.

Habit of saving

“Out of sight, out of mind. So you don’t spend money that is not in your pocket,” he said. “This is not just about banking. It’s about giving every Filipino the tools to participate in our economy.”

This week, Singson intensified his efforts to engage with stakeholders, sharing his vision of important reforms during a series of meetings with grassroots leaders, local officials, and members of the media across Central Luzon and Western Mindanao.

He emphasized his commitment to financial inclusion, job creation, and modernization. Singson also promoted electric vehicles, and the Chavit 500 program, a universal basic income initiative aimed at improving the lives of Filipinos.

Singson began the week on 11 December by joining the Circulation Management Association of the Philippines’ annual Christmas gathering on Wednesday.

During the event, he underscored the vital role of the media in promoting transparency and accountability in governance.

He called for collaboration to advance nation-building and made a donation to CMAP, earning the appreciation of the organization’s members.

In Central Luzon, Singson engaged with the Angeles City Association of Barangay Councils during a meet-and-greet in Clark.

He focused on VBank’s potential to provide communities with greater financial access, stressing the need for innovative financial technology to uplift underserved areas and “bank the unbanked.”

Later that day, he joined Candaba, Pampanga Mayor Rene Maglaque at a Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) distribution event, where displaced workers were provided financial aid.

This gave Singson the chance to discuss his plans for nationwide job creation and economic reform. Mayor Maglaque expressed confidence in Singson’s leadership and his ability to bring transformative change at the national level.

That evening, Singson attended the GMA Sparkle Christmas Party in Bonifacio Global City, where he connected with media and entertainment industry figures.

He used the opportunity to discuss his vision for modernizing public vehicles and boosting the industry’s economic activities.