Investment holding company Capital A, owner of budget airline AirAsia, has announced a strategic partnership with UnionDigital Bank, the digital banking arm of Union Bank of the Philippines. The collaboration, disclosed during a press conference at the recent APEC Business Advisory Council (ABAC) meeting, will extend to Capital A’s subsidiaries including AirAsia, airasia Superapp, and BigPay, bolstering their presence in Malaysia, Singapore, Thailand, Indonesia, and the Philippines.
The essence of this partnership lies in UnionDigital Bank’s provision of embedded finance, facilitated through BigPay within the airasia Superapp travel platform. This platform is the main booking portal for AirAsia flights in the Philippines.
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Beyond the infusion of finance into the travel sector, the collaboration will notably improve the travel experience of frequent fliers. They can expect flexible payment options, including a Fly Now, Pay Later facility within the airasia Superapp. Exclusive co-branding deals are also on the cards, heralding a progressive shift in the way consumers plan and pay for flights and other travel-related services. This strategy makes 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 realizing dreams,” said Tony Fernandes, CEO at Capital A. “With UnionDigital as our proud partner, we’re creating a future where travel meets innovative financial solutions, making dream journeys possible with unparalleled ease.”
Fernandes mentioned that data indicates that 70% of their customers in the Philippines save up for their travel plans. This consumer behavior inspires Capital A’s mission to break down barriers, fostering a more connected and inclusive global community.
Zubin Rada Krishnan, CEO of BigPay, mirrored the enthusiasm, adding that the partnership aims to elevate the end-to-end travel and payment experience for Filipinos. The collaboration with UnionDigital Bank brings BigPay a step closer to making financial services highly accessible in the Philippines.
Echoing the sentiment, Henry Aguda, president and CEO at UnionDigital Bank, emphasized the importance of the partnership, marking a pivotal moment for the Philippines’ financial and travel sectors. The alliance represents a path towards greater convenience, accessibility, and innovation to empower Filipinos to lead better lives.
The announcement signifies not just a stage-setting but the construction of a solid foundation for a brighter future with BigPay and AirAsia. This news is based on Marketech APAC.
