GHL Systems Philippines, a wholly-owned subsidiary of GHL Systems, has signed an agreement with Rizal Commercial Banking Corp (RCBC) to offer e-payment services to merchants in the Philippines for credit card transactions.
Under the terms of the deal, GHL will provide the transaction payment acquisition (TPA) services to RCBC through its servicing entity RCBC Bankard Services Corp.
The TPA service will allow GHL Philippines to directly approach merchants to offer credit card payment services, with RCBC acting as the underlying bank that will obtain authorisation for the credit card transactions.
GHL group CEO Raj Lorenz said: “The Philippines is an important market for GHL Group and we are thrilled to partner with RCBC as the acquiring bank on this TPA initiative.
“RCBC Bankard is one of the pioneers of the credit card industry in the Philippines and is well respected by the business community here.
“There will be many, many more small merchants that will be accepting card payments in this country.”
RCBC chairman Helen Dee said: “The partnership with GHL Philippines allows RCBC to create a new market by tapping into the vast majority of small merchants that today, only accept cash for payment.”