Bancamiga and TecnoFarma launch closed-loop credit card

Bancamiga has entered into a commercial alliance with the pharmacy chain TecnoFarma to launch a closed-loop credit card designed to reward customer loyalty. In the initial phase, the bank has assigned 4,000 credit cards with a 12-month revolving limit, primarily targeting frequent shoppers at the pharmacy chain.

The new financial instrument offers initial financing limits between 300 and 400 dollars. To apply, customers must have an active account with Bancamiga and can complete the process at TecnoFarma locations by scanning a QR code.

José Simón Elarba, President of the Board of Directors of Bancamiga, stated that this strategic alliance represents a fundamental step in diversifying the bank's portfolio by sectorizing credit to ensure funds are used for essential goods at reliable partner businesses.