The Land Bank of the Philippines (LANDBANK) has partnered with Visa to introduce a new Government Purchase Card (GPC) aimed at digitalizing transactions for public agencies.
The LANDBANK Visa GPC was launched on Tuesday and will serve as an expense management tool for agencies, aligning with the government's digital transformation push.
LANDBANK Executive Vice-President and Branch Banking Group Head Marilou L. Villafranca said the card offers a secure digital payment solution that simplifies transactions, strengthens financial oversight, and promotes transparency and accountability in the use of public funds.
Among the 107 agencies already onboarded, the Bureau of the Treasury will be one of the first to use the LANDBANK Visa GPC, which will be integrated with its attached agencies and 16 regional offices.
Spending limits and guidelines for the purchase card will be based on the Department of Budget and Management's Circular No. 2025-1, with spending limits ranging from P100,000 up to P1 million, depending on the program code and privilege type.
Eligible expenditure types include travel expenses, miscellaneous small value purchases, computer software, services, and digital content, hotel/lodging, representation/business development, and fuel, automotive parts and services.
LANDBANK aims to equip 2,000 government agencies with the LANDBANK Visa GPC by the end of the year, with 773 cards issued to heads of onboarded agencies and top officers.
The bank also targets to roll out a digital expense management platform for cardholders by the fourth quarter, which will automate expense processes and provide agencies with data.
Transparency will be ensured by a reporting system where agencies will be required to show the expenses made with the card for every billing cycle.
Visa Country Manager for the Philippines Jeffrey V. Navarro said the card has no risk of incurring nonperforming loans for LANDBANK as spending will be dependent on the agency's assigned budget.
With 97.2% of the government's transaction value and volume in 2024 done via cash-lite methods, the LANDBANK Visa GPC is expected to further digitalize government transactions.
