In a groundbreaking move that promises to redefine the travel and fintech landscape in the Philippines, Capital A has announced a strategic partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines. The collaboration involves three key subsidiaries: AirAsia, airasia Superapp, and BigPay. Industry leaders and policymakers gathered at the APEC Business Advisory Council (ABAC) meeting press conference in Cebu on Sunday to unveil the exciting joint initiatives.
AirAsia, known for its airline business, and airasia Superapp, a comprehensive travel platform offering services from flights to hotels and loyalty programs, have joined forces with BigPay, the fintech arm with a vision of enhancing financial accessibility and well-being in Southeast Asia.
Under this visionary alliance, UnionDigital Bank will provide embedded finance in partnership with BigPay within the airasia Superapp travel platform. As the primary booking channel for AirAsia flights in the Philippines, this integration promises a seamless and enriched travel booking experience for airasia Superapp’s users, transforming the way people manage their finances while traveling.
Among the transformative benefits of this partnership is the introduction of flexible payment options, including the Fly Now, Pay Later offer, available exclusively on airasia Superapp. Frequent fliers can now enjoy exclusive co-branding deals, a shift that will revolutionize the way customers plan and pay for their travel-related services, making fintech more accessible and convenient for Filipinos.
“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. 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,” said Tony Fernandes, CEO of Capital A.
For UnionDigital Bank, this partnership with BigPay represents a strategic expansion into the Philippine market. BigPay, a leading mobile wallet provider offering financial services in Malaysia and Singapore, will now be able to serve Filipino customers with secure and frictionless financial solutions, positively impacting their long-term financial health and management.
“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. 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,” said Henry Aguda, President and CEO of UnionDigital Bank.
The significance of these collaborations unveiled at the ABAC press conference cannot be overstated. It marks a turning point in the progression of the local banking and travel sectors, recognizing the potential impact of these powerful synergies. UnionDigital Bank’s commitment to driving innovation and fostering economic growth aligns perfectly with the goals of AirAsia and BigPay.
“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. With these key partnerships, we believe we can continue to make lives better in the Philippines through innovative and smart financial services,” said Zubin Rada Krishnan, CEO of BigPay.
The joint initiative demonstrates a shared dedication to driving positive change and empowering the lives of Filipinos. By leveraging the strengths of each entity, this partnership is set to revolutionize travel and fintech in the Philippines, paving the way for a more connected and inclusive future.