Palawan Group of Companies officially launches PalaSave, a new savings feature within PalawanPay designed to make saving simpler, more accessible, and more inclusive for Filipinos. Developed in partnership with RCBC Diskartech, PalaSave enables users to build and grow their savings through a seamless, user-friendly digital experience. The feature brings together the reach of PalawanPay’s nationwide financial ecosystem and RCBC Diskartech’s digital banking innovation to support everyday Filipinos, from fisherfolk, farmers, vendors, and drivers to Gen Z users, who are increasingly managing their finances through both physical and digital channels.
Karlo M. Castro, President and CEO of Palawan Group of Companies, emphasized that PalaSave builds on the brand’s long-standing trust by enabling Filipinos to save and grow their hard-earned money through more accessible and comprehensive financial solutions.
Karlo M. Castro, President and CEO of Palawan Group of Companies, explained, “For many years, Filipinos have trusted Palawan Group not only to safely and conveniently send money but also to support their financial needs through services such as pawning, selling gold and jewelry, microinsurance, and a growing suite of business solutions that enable transactions, investments, liquidity, and financial security. With PalaSave, we build on that trust by giving them the opportunity to save and grow their hard-earned money, making financial progress more accessible to every Filipino.”
The platform makes saving straightforward and flexible. Users can open an account with no initial deposit and no minimum balance, allowing them to start saving at their own pace without the pressure often associated with traditional banking requirements. They can begin growing their savings with a succeeding deposit of as little as ₱200, while earning up to 4% interest per year. With the ability to transfer money anytime, anywhere, without additional fees, users can steadily build both short-term and long-term savings goals.
Lilian Castro-Selda, Chief Financial Officer of the Palawan Group of Companies, shared, “Saving is one of the most important financial habits people can build, but for many Filipinos, traditional banking requirements can sometimes make it feel difficult to start. Through PalaSave, we want to remove those barriers by providing a savings platform that is flexible, accessible, and secure, so more Filipinos can develop stronger financial habits and build long-term financial security.”
RCBC, led by its Chairperson Helen Y. Dee, who was also present during the contract signing ceremony, plays a key role in enabling the PalaSave feature through its digital banking capabilities and its financial inclusion platform, RCBC DiskarTech. With over 60 years of experience, RCBC brings secure, reliable, and scalable banking infrastructure that supports seamless savings for Filipinos. Through this partnership, RCBC helps extend formal financial services to underserved communities, combining innovation with accessibility to empower more Filipinos to build sustainable saving habits and achieve long-term financial security.
Reginaldo B. Cariaso, President and CEO of RCBC, explained, “We are launching the full go-live of Palasave. This isn’t just a new feature. It is a fundamental shift in how we deliver services. By embedding the RCBC DiscardTech Savings Hub directly into the PalawanPay app, we are opening doors for all 23 million PalawanPay users. Think about that scale. We are enabling millions of Filipinos, many who have traditionally been underbanked, to open a formal savings account without having to download a new app or visit a physical bank branch. This represents RCBC’s first live implementation of banking as a service.”
Lito Villanueva, executive vice president and chief innovation and inclusion officer of RCBC, put emphasis on the importance of the Palawan Group’s strong network, especially in the rural areas. He explained, “Digital services alone are not sufficient; access must be supported by trust. Our customers need reliable human support when issues arise.”
From left to right: RCBC executives namely, Jose Carlo Eufemio, FVP, Go-To-Market & Growth Division Head; Angelito Villanueva, EVP, Chief Innovation & Inclusion Officer; Reginaldo Cariaso, President & CEO; Helen Y. Dee, Chairperson; alongside Palawan Group executives, Bobby L. Castro, Founder & Chairman; Karlo M. Castro, President & CEO; Lilian Castro-Selda, CFO; and Third S. Librea, PalawanPay President & CEO.
Many Filipinos remain unbanked not because they lack the desire to save, but because traditional banking can feel complicated or out of reach. According to the third quarter 2025 Social Weather Stations report, 33% of savers open accounts primarily for personal savings, showing a strong motivation to set money aside. PalaSave meets this need by making saving simple and flexible through PalawanPay, with no initial deposit, no minimum balance, and deposits as low as ₱200. Users can earn up to 4% interest per year and transfer money anytime, anywhere within the app, with no fees, making it easy to build both short- and long-term savings goals at their own pace.
With PalaSave, PalawanPay is transforming how Filipinos save and grow their money. The platform makes saving simple, flexible, and accessible, whether users prefer digital transactions or face-to-face support at physical branches. By removing traditional banking barriers and offering practical tools for everyday savings, PalaSave empowers Filipinos from all walks of life to take control of their finances and build a more secure and confident future. Palasave is part of Palawan Group of Companies’ continuous effort to serve Filipinos, especially its loyal branch customers, as their financial needs evolve.
Take the first step toward your savings journey. Download the PalawanPay app via Google Play, Huawei App Gallery, or the Apple App Store and explore PalaSave to experience a simple, secure, and accessible way to grow your money.
