BigPay to have wider presence in Asean — Malaysia, Singapore, Thailand, Indonesia and the Philippines
SINGAPORE, 31 July 2023 – Capital A is entering into a partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, involving three key subsidiaries, namely AirAsia, airasia Superapp, and BigPay. These collaborations were unveiled at the APEC Business Advisory Council (ABAC) meeting press conference in Cebu on Sunday, attended by industry leaders and policymakers.
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 wellbeing and accessibility in Southeast Asia.
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 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 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.
He added, “In the Philippines, research has shown that 7 out of 10 of our 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 Union Digital 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, CEO of 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.
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 by our side.”
The collaboration demonstrates UnionDigital Bank, AirAsia, and BigPay’s dedication to drive positive change, leveraging on powerful synergies that will empower and uplift the lives of Filipinos.
“As we continue to push boundaries and pioneer new initiatives with like-minded partners, a financially inclusive Philippines will surely be on its way,” said Aguda.
About Capital ACapital A (formerly known as AirAsia Group) is an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology, including the world’s leading low-cost carrier AirAsia, an aviation services group, airasia Superapp and fintech BigPay as well as logistics venture Teleport. Capital A’s vision is to create and deliver products and services that focus on offering the best value at the lowest cost, underpinned by robust data accumulated over 20 years in operation and one of Asia’s leading brands that remains committed to serving the underserved in Asean and beyond.
About UnionDigital Bank
UnionDigital Bank is a digital bank entity wholly owned by UnionBank of the Philippines. We are a Bangko Sentral ng Pilipinas (BSP) licensed digital bank committed to financial inclusion and creating positive impact on the lives of every Filipino, everywhere. As part of the larger Aboitiz Group, we harness our ecosystem, leverage on its expertise, and work collaboratively to achieve our dream of a financially inclusive Philippines.
Our mission is clear – we strive to provide accessible and personalized banking services, products, and financial knowledge to every Filipino, no matter where they are in the world. As a fully digital bank, we aim to empower our customers with the tools and resources they need to achieve their financial goals and truly uplift their lives.
Learn more at www.uniondigitalbank.io.
About airasia Superapp
The airasia Superapp is the one-stop travel platform business of Capital A, offering consumers a complete end-to-end travel booking experience with products and services ranging from flights from global carriers, hotels, ride-hailing, culinary experiences, insurance, alternative transport and more, with integrated fintech capabilities via BigPay. The whole ecosystem is backed by a robust loyalty program, airasia rewards where members can earn and redeem airasia points. Powered by data and technology, the airasia Superapp leverages its digital ecosystem of 51 million users and 40 million downloads to generate a personalized and seamless consumer experience. Users can also engage in real-time conversations, join like-minded communities, and play games. Download airasia Superapp via Apple App Store, the Google Play Store and the Huawei App Gallery.
BigPay is a Southeast Asian fintech company founded in 2017. BigPay is committed to providing the financial services that Southeast Asians need to live better lives, by providing accessible, transparent, simple and secure digital financial services. From cross-border and domestic payments to international transfers, credit, micro-insurance, personal loans, and smart budgeting, we continue to innovate to level-up Southeast Asian lives – one transaction at a time. Visit https://bigpayme.com/ for more information.I