Philippines-based BDO Unibank and American Express have launched a new American Express CashBack Credit Card.
The card aims to provide potential card members with cash rebates for every purchase, whether local or overseas.
Cardholders can earn 1% cash back on all domestic purchases and 2% cash back on every overseas purchase. They can also enjoy 5% cash back as an introductory offer for purchases until 31 August 2015.
The new credit card will also provide a range of exclusive benefits and privileges that American Express offers globally.
BDO, which serves as the exclusive issuer of American Express cards in the Philippines, has purchased the domestic operations of American Express (Amex) in 2007.
American Express vice president for business development and card services in Asia Sanjiv Malhotra said: "This card will enable more people in the Philippines to gain access to our competitive benefits through the global merchant network American Express offers."
Additionally, the bank is planning to grow its credit card business by targeting the middle-income consumers in the Philippines.
BDO senior vice president and consumer lending group marketing head Maria Nannette Regala said: "The middle class is growing and you see them all over. We expect to grow the card business, and BDO as co-brand issuer will continue to grow every year."
Regala added that the company is set to launch CashBack cards that have security chips in the next few months.