KUALA LUMPUR, 31 JULY 2023 – Capital A unveils a strategic alliance with UnionDigital Bank, Union Bank of the Philippines’ digital banking arm. This partnership incorporates three of Capital A’s key subsidiaries: AirAsia, airasia Superapp, and BigPay, extending their presence across ASEAN nations including Malaysia, Singapore, Thailand, Indonesia, and the Philippines.
Powerhouses United to Redefine Travel and Fintech UnionDigital Bank’s mission within this collaboration is to implement embedded finance in partnership with BigPay on the airasia Superapp, AirAsia’s principal booking platform in the Philippines. The fusion of these industry leaders aims to revolutionise the travel booking process, presenting an enriched and seamless experience for the Superapp users.
Groundbreaking Financial Solutions for Improved Accessibility In an ambitious effort to streamline how customers plan and finance their travels, this alliance will offer flexible payment solutions, including a ‘Fly Now, Pay Later’ scheme via the airasia Superapp. With exclusive co-branding deals, the partnership aims to make fintech more convenient and accessible for Filipinos, offering an innovative shift in their travel planning process.
“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 of 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.
Empowering the Community with Expanded Financial Services BigPay’s partnership with UnionDigital Bank underlines its foray into the Philippine market, offering secure and efficient financial services to enhance the financial wellness of the Philippine community.
“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.
Driving Innovation and Economic Growth Unveiled at the ABAC press conference, these collaborations mark a significant turning point for the local banking and travel sectors in the Philippines. “We are forging a path toward greater convenience, accessibility, and innovation to empower Filipinos to live better lives,” stated Henry Aguda, President and CEO, UnionDigital Bank. The partnership not only sets a new standard in these sectors but also paves the way for a brighter future with UnionDigital Bank, BigPay, and AirAsia committed to uplifting the lives of Filipinos.
This landmark partnership demonstrates the shared dedication of UnionDigital Bank, AirAsia, and BigPay to bring positive change and stimulate economic growth in the Philippines, leveraging synergies that will inevitably empower and uplift the lives of Filipinos.
About Capital A
Capital 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.
About BigPay
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.
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