Capital A has sealed strong partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, at the APEC Business Advisory Council (ABAC) conference in Cebu on Sunday, a turning point in the progression of the local banking and travel sectors.
The meeting, which was attended by industry leaders and policymakers, also involved three key subsidiaries namely AirAsia, airasia Superapp, and BigPay.
AirAsia is the airline business of Capital A, while airasia Superapp is the one-stop travel platform offering services from flights, hotels, ride-hailing, loyalty programs, and more. BigPay is the fintech arm providing accessible and secure digital financial services with the vision of improving financial well-being and accessibility in Southeast Asia.
According to Capital A, UnionDigital Bank's role will be to 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, Capital A said, 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 collaboration will enhance the travel experience of frequent fliers with flexible payment options with a Fly Now, Pay Later offer available in airasia Superapp, and exclusive co-branding deals. This will create a progressive shift in the way customers plan and pay for their fligths and other travel-related services, making fintech more convenient and accessible for Filipinos. It will provide low cost, best value services, connecting people and realizing dreams, for people of Asean and beyond.
"For Capital A, the vision has always been to provide low cost, best value services, connecting people and realizing dreams, for people of Asean and beyond. With UnionDigital as our proud partner, we are now on our way to creating 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," Tony Fernandes, Capital A CEO said.
"Data has shown that 7 out of 10 of our customers in the Philippines 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," added Fernandes.
Capital A said 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 key industry players.
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, Capital A said, 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. 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, BigPay CEO, adding, "With these key partnerships, we believe we can continue to make lives better in the Philippines through innovative and smart financial services."
Henry Aguda, president and CEO of UnionDigital Bank, said that the partnerships are not just setting the stage but building a solid foundation for a better brighter future with BigPay and AirAsia by their side.
The collaboration demonstrates UnionDigital Bank, AirAsia, and BigPay's dedication to driving positive change, leveraging on powerful synergies that will empower and uplift the lives of Filipinos.
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