ABOITIZ EQUITY VENTURES, INC. CEBU CITY, Philippines, 30, July, 2023 - UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, forged a strategic partnership with Capital A, involving two key subsidiaries, namely BigPay and airasia Superapp. These collaborations were unveiled at the APEC Business Advisory Council (ABAC) meeting press conference in Cebu on Sunday, attended by industry leaders and policymakers.
BigPay is the fintech arm providing accessible and secure digital financial services with the vision of improving financial wellbeing and accessibility in Southeast Asia, while airasia Superapp is the one-stop travel platform offering services from flights, hotels, ride-hailing, loyalty programs and more. UnionDigital Bank will provide embedded finance in partnership with BigPay within the airasia Superapp travel platform, the main booking channel for AirAsia flights in the Philippines.
This synergy promises to deliver a seamless and enriched travel booking experience for airasia Superapp's users, and redefine the way people travel and manage their finances.
The partnership will enhance the travel experience of frequent fliers with flexible payment options with a Fly Now, Pay Later offer available in the airasia Superapp, and exclusive co-branding deals. This will create a progressive shift in the way customers plan and pay for their flights and other travel-related services, making fintech more convenient and accessible for Filipinos.
"For Capital A, the vision has always been to provide low cost, best value services, connecting people and realising dreams, for people of Asean and beyond. With UnionDigital as our proud partner, we are now on our way to create a future where travel meets innovative financial solutions that facilitate everyone's dream journeys with unparalleled ease. We look forward to working with UnionDigital to redefine travel coupled with fintech as an accessible and enriching experience," said Tony Fernandes, CEO, Capital A.
Fernandes added, "Our research has shown that 7 out of 10 of our Filipino customers diligently save up for their travel plans, carefully budgeting to ensure they can explore the world comfortably. It is this inspiring dedication that fuels our determination to break down barriers and create a more connected and inclusive global community."
UnionDigital Bank's partnership with BigPay, a leading mobile wallet providing financial services in Malaysia and Singapore, solidifies its expansion into the Philippine market. Through this partnership, BigPay will be able to serve Philippine customers with secure and frictionless financial services that will improve their financial health and management in the long-run.
"As tourism flourishes in the region, we are excited to elevate the end-to-end travel and payment experience of Filipinos through our collaboration with UnionDigital Bank and airasia Superapp. Through this partnership, BigPay is one step closer to making our financial services highly accessible in the Philippines, with the mission of empowering people to level up their lives, one transaction at a time." said Zubin Rada Krishnan, CEO, BigPay. "With these key partnerships, we believe we can continue to make lives better in the Philippines through innovative and smart financial services," he adds.
In photo: (seated, from left) Capital A CEO Tony Fernandes, BigPay CEO Zubin Rada Krishnan, UnionDigital Bank President and CEO Henry Aguda, and Aboitiz Group President and CEO Sabin M. Aboitiz; (standing, from left) AirAsia Philippines CEO Ray Isla, AirAsia CFO Ray Berja, Capital A Group CFO Pattra Boosarawongse, UnionDigital Bank Chief Marketing Officer Munmun Nath, UnionDigital Bank Chief Product Development Officer Pats de Villa, and UnionDigital Bank Head of PR Kim Dy.These collaborations unveiled at the ABAC press conference are a turning point in the progression of the local banking and travel sectors. It recognizes the potential impact of these partnerships, reinforcing UnionDigital Bank's commitment to driving innovation and fostering economic growth alongside these key industry players.
"This is a pivotal moment for the two important sectors in the Philippines. We are forging a path towards greater convenience, accessibility, and innovation to empower Filipinos to live better lives," said Henry Aguda, President and CEO, UnionDigital Bank. "As we make these partnership announcements at ABAC, we are not just setting the stage but building a solid foundation for a brighter future with BigPay and airasia superapp by our side."
The collaboration demonstrates UnionDigital Bank, airasia Superapp, and BigPay's dedication to drive positive change, leveraging on powerful synergies that will empower and uplift the lives of Filipinos.
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Aboitiz Equity Ventures Inc. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 08:07:03 UTC.
