PalawanPay targets physical card rollout in Q4
PalawanPay, the mobile e-wallet application of the Palawan Group of Companies, plans to launch its physical card in the fourth quarter as it expands beyond digital services, according to a company executive. “We’re looking at launching the physical cards later this year. Maybe later early next year, but the goal really is around November, December,” […]
Source: BusinessWorld Philippines · August 21, 2026 at 11:00 AM · AI-assisted report
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KUALA LUMPUR, 21 AUGUST 2026 —
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PalawanPay to Launch Physical Card in Q4, Expanding Beyond Digital Payments
Market Impact
KUALA LUMPUR, Aug 21 — PalawanPay, the mobile e-wallet arm of the Philippines-based Palawan Group of Companies, is set to introduce its first physical Visa card in the fourth quarter of this year, marking a strategic expansion beyond its digital payment services. The move comes as the fintech arm seeks to offer users greater flexibility in point-of-sale and in-store transactions, according to company executives.
The planned physical card launch follows the introduction of PalawanPay’s virtual Visa card in 2025, which enabled users to conduct online transactions, subscription payments, and bill settlements. The digital card also allowed free cash-ins at over 3,500 Palawan Express branches nationwide. The physical card will retain key digital features while introducing ATM withdrawal capabilities, though with minimal foreign exchange (forex) fees. “It’s really not just a Visa card, it’s also with banknotes, so you can withdraw at the ATM,” Palawan Group CEO Karlo M. Castro said. “There’s going to be a minimal fee to have a card, but most of the features are actually available digitally.”
Regulatory compliance remains a critical hurdle, with Castro noting that while the technology is nearly finalized, approvals and requirements may push the launch to early 2027. “Q4 is the target, but of course, there are a lot of moving parts. Tech is almost done, but there’s a lot of regulatory requirements,” he stated. The physical card will operate under standard Visa charges, with forex fees kept low to ensure affordability for users.
PalawanPay has rapidly scaled its user base since its 2022 launch, now boasting 23 million registered users, of which 1.8 million have activated and used its virtual cards. The platform’s integration with the broader Palawan Group’s services—including pawn services and insurance—further enhances its utility. “All the services, whether it’s pawning, buying insurance, or renewing pawns, are interconnected,” Castro explained. “You can use PalawanPay for any of the services of the Palawan Group and vice versa.”
The company has also expanded its digital payment ecosystem by integrating with Google Wallet in June, enabling contactless payments via mobile phones. Support for Apple Pay is reportedly in the pipeline, though no specific timeline has been provided. “I personally linked my PalawanPay Visa card virtually to Google Pay so I can pay in terminals and even abroad,” Castro said. “We’re a couple of months away from Apple Pay.”
For Malaysia, where digital payment adoption is growing but cash remains prevalent, PalawanPay’s physical card could appeal to users seeking hybrid payment solutions. The minimal forex fees may also attract frequent travelers or those making cross-border transactions. However, competition from established players like Touch ‘n Go eWallet, Boost, and GrabPay—each with their own physical card offerings—could pose challenges. Industry analysts suggest that differentiation through affordability and seamless integration with existing financial services will be key to PalawanPay’s success in the Malaysian market.
Details not yet available on whether the physical card will be issued in collaboration with a Malaysian financial institution or if it will operate independently. The launch timing and regulatory approvals in Malaysia remain uncertain, pending further announcements from PalawanPay.
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