EastWest Banking Corporation, led by the Gotianun family, has partnered with Lucio Co’s Puregold Price Club Inc. to launch the EastWest Puregold Always Panalo Visa Credit Card—a co-branded credit card designed to reward grocery shoppers, especially those from lower to middle income brackets.
Unveiled in Taguig on Thursday, the new credit card offers consumers an easy way to earn rewards and stretch their budgets. Cardholders will receive one reward point for every ₱30 spent at Puregold and one point for every ₱100 spent elsewhere. Each reward point is equivalent to ₱1, convertible into Puregold P-Wallet credits, with a cap of ₱3,000 per month.
“This card is a collaboration between EastWest and Puregold that delivers practical, real-world benefits,” said EastWest CEO Jerry Ngo. “It turns regular grocery runs into opportunities to earn cash rebates, helping cardholders stretch their budgets while enjoying the ease of cashless payments.”
Ngo emphasized the role of credit cards in a consumption-driven economy like the Philippines, calling them “essential tools that help people manage everyday expenses more efficiently and effectively.”
With the country moving steadily towards digital payments, EastWest is looking to increase credit card penetration among Filipinos. The card also supports financial inclusion, said EastWest EVP and Consumer Lending Head Lawrence Lee: “Everyone is given a chance to establish their credit.”
Applications are open to members of the Puregold Perks loyalty program, giving EastWest access to spending data to help assess applicants more accurately. While income levels of the target market may be lower, bank officials expressed confidence in the spending consistency of Puregold’s customer base. Know-Your-Customer (KYC) procedures will still be strictly followed, and interest rates will align with other EastWest credit cards.
“Ang masa kasi or the mass, we’re trying to bring them into financial inclusion,” said EastWest SVP and Credit Cards Head Mia Tamayo. “Given that the market is mass market, I think appropriately, the risk on the interest side is equal or appropriate for the risk.”
Visa Philippines and Guam Country Manager Jeff Navarro added that the partnership is part of broader efforts to bring more Filipinos into the formal financial system. “We are working with the banks on how we can increase the penetration of credit cards in the market. This is one way of doing this,” he said.
The card launch also coincides with EastWest’s 30th anniversary. The bank ended 2024 with a record-high 1.4 million credit cards in force and a net income of ₱7.6 billion—up 24.6% from the previous year, driven by strong consumer lending and deposit growth.
With over 500 Puregold branches nationwide and two million members in its Perks Club, EastWest sees the partnership as a significant growth opportunity and a strategic move to bring meaningful financial services to the everyday Filipino shopper.
