Wednesday, June 26, 2024

Zed Secures BSP License, Begins Rolling Out Invitations to 40k Waitlist

Manila, Philippines, June 25, 2024 - Zed, a credit-led neobank, announced today it has received its Certificate of Authority to Operate as a standalone credit card issuer from the Bangko Sentral ng Pilipinas (BSP). 

"Our BSP license makes us the first Philippine neobank to offer credit cards as a standalone issuer," said Danielle Cojuangco Abraham, "This independence and our foundation as a technology company means we can rapidly and continuously improve our product, unconstrained by legacy systems.”

After operating in a BSP-sanctioned pilot for the last 6 months, the Zed Card is officially rolling out to the public on an invite-only basis, starting with its waitlist. Zed has seen overwhelming demand for its no interest, no fees Mastercard Titanium Credit Card, garnering close to 40,000 sign ups since launching its waitlist in March this year. 

Those who have signed up for the waitlist will receive invitations to apply for a Zed card over the coming months. “We’re overwhelmed by the excitement for Zed and the number of signups we’ve received. Given the significant demand, it will take some time for us to open up spots for all 40,000 individuals on the waitlist. Rest assured, we’re already sending out invitations and will get to everyone that’s signed up. Our priority is onboarding new users at a pace where we can ensure a stellar experience for every Zed customer, so hang tight!” said Danielle Cojuangco Abraham, Zed co-founder and CEO

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