Rizal Commercial Banking Corporation (RCBC) has entered into a strategic partnership with Australia-based payment platform EzyRemit to enhance digital remittance and cross-border payment services between the Philippines and Australia. The collaboration aims to support Overseas Filipino Workers (OFWs), students, and businesses by providing faster and more convenient financial transactions. The partnership agreement was formally signed on May 18, 2026, at the Austrade headquarters in Sydney, Australia.
Strengthening Remittance Channels
The partnership is designed to strengthen inward and outward remittance channels for the estimated 400,000 Filipinos residing and working in Australia. It will enable easier fund transfers between overseas Filipinos and their families back in the Philippines. Beyond basic remittances, the collaboration will also allow Filipinos in Australia to access insurance products for their family members in the Philippines through the RCBC Pulz app, addressing both short-term and long-term financial needs.
Benefits for Students and Businesses
The initiative is expected to benefit Filipino parents in the Philippines whose children are studying in Australia by streamlining digital tuition payments for major universities. These include the University of Melbourne, University of Sydney, University of New South Wales, Monash University, Australian National University, University of Queensland, University of Adelaide, and the University of Western Australia, among others. Additionally, Philippine micro, small, and medium enterprises (MSMEs) that have business relationships with Australian suppliers, clients, and partners will benefit from improved efficiency in cross-border and supply chain payments.
Expanding Digital Banking Capabilities
This partnership builds on RCBC's broader strategy of expanding international digital banking capabilities. It follows the launch of the Philippines' first U.S. Virtual Account through RCBC Pulz in partnership with Meridian. Future services under the EzyRemit partnership are expected to include more seamless salary and commission payments for Filipinos working with Australian employers and clients.
Executive Insights
Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer of RCBC, emphasized that the partnership is a continuation of the bank's global engagements to connect Filipinos and bridge them to businesses worldwide. He noted that financial institutions play a pivotal role in expediting business transactions and cross-border financial engagements. "We thank EzyRemit for partnering with RCBC in strengthening cross-border financial services between the Philippines and Australia. This initiative supports our broader strategy of helping Filipinos globally through more accessible and secure international banking solutions," Mr. Villanueva stated. He added, "As more Filipinos participate in the global economy as workers, students, entrepreneurs, and freelancers, the need for reliable and efficient cross-border payment services continues to grow. Financial institutions play an important role in enabling these transactions securely and conveniently."
Strategic Significance
The partnership is also being eyed as a potential showcase during the upcoming ASEAN Manila Tech Summit, in line with the Philippines' role as host this year and with the support of Austrade and the Australian mission to the Philippines. The initiative coincides with the 80th anniversary of diplomatic relations between the Philippines and Australia, underscoring the growing economic and digital cooperation between the two countries.
