EastWest Bank aims to attract more credit cardholders through its rewards program for shoppers at Puregold.
The bank recently introduced the EastWest Puregold Always Panalo Visa Credit Card which offers three types of rewards for grocery shopping.
“It turns regular grocery runs into opportunities to earn cash rebates, which can be converted into Puregold P-Wallet credits, helping cardholders stretch their budgets while enjoying the ease of cashless payments,” EastWest Bank chief executive officer Jerry Ngo said.
Cardholders can receive 1 rewards point for every P30 spend for grocery items at Puregold, and 1 rewards point for P100 spend on other daily items.
Cardholders can also accumulate up to P3,000 in their Puregold P-Wallet monthly under a 1 rewards point-to-P1 conversion rate.
“If you know how to use the card, you can improve your skills in financial management or grow your grocery-related business,” Puregold head of marketing Ivy Piedad said.
EastWest Bank mostly caters to middle-income earners, helping the lender increase its individual clients to 82 percent of the total clients last year. This was the biggest share of individual clients compared to corporate clients among commercial banks in the country, Ngo said.
In a disclosure to the Philippine Stock Exchange, EastWest Bank said its credit card business grew by 38 percent last year compared to 2023.
“Our strategic direction is clear—we are committed to scaling our consumer banking business, deepening customer relationships, and accelerating digital transformation,” Ngo said.
Piedad expects an increasing number of EastWest Puregold Always Panalo Visa Credit Card users each year as she said the grocery company will continue to open at least 25 stores annually, especially in Mindanao.