Insider Spotlight
Digital wallets and banking apps are racing to lock in users through incentives, as transaction frequency—not just downloads—has become the key battleground. BDO Pay’s latest push signals a shift toward social-driven onboarding to deepen ecosystem stickiness.
The details
Users can earn up to P1,000 in monthly rewards by inviting friends and family to sign up using a referral code until June 30, 2026. Both the referrer and the new user receive P50 in cash credits upon successful registration.
The process is embedded within the app experience, allowing users to share codes through messaging platforms in a few taps, lowering friction in peer-to-peer promotion.
What they’re offering
Referral mechanics are not new—but BDO Pay is leveraging its existing banking base to accelerate adoption. By targeting users with established BDO accounts, the bank reduces onboarding barriers that often slow fintech rivals.
Beyond the referral hook, BDO Pay is positioning itself as an all-in-one payments hub:
For credit card users, the app also integrates security controls like instant lock and unlock features, alongside rewards management.
The big picture
Philippine banks are accelerating digital transformation as fintech challengers scale rapidly. BDO, the country’s largest bank by assets, is leaning on its extensive distribution network and customer base to defend market share while expanding digital engagement.
Expect more incentive-driven campaigns across banking apps as institutions compete for habitual usage—not just sign-ups—especially in a market where digital payments adoption continues to climb. —Vanessa Hidalgo | Ed: Corrie S. Narisma
