AUB and Alipay+ team up to bring HelloMoney abroad

Thursday 1 December 2022 12:10 CET | News

Asia United Bank (AUB) has partnered with Alipay+ to enable HelloMoney for cross-border payments when customers travel abroad.


Through this collaboration, HelloMoney is to be made available and accepted first in South Korea and Japan, where HelloMoney users can pay at local merchants accepting Alipay+ for shopping, dining, convenience stores, transportation, and other travel-related activities.

The Bank’s officials stated that over the years, AUB has been building a digital arsenal that includes pioneering initiatives and innovations. They developed end-to-end digital account opening so clients can bank through their mobile phones and merchants to sustain their businesses even with restricted mobility during the pandemic.

Asia United Bank (AUB) has partnered with Alipay+ to enable HelloMoney for cross-border payments when customers travel abroad.

Alipay’s network expands the reach for HelloMoney

With Alipay+'s global presence and integration with local merchants worldwide, HelloMoney users will have a wider reach in payment acceptance while ensuring a safe and secure digital transaction. Over a million HelloMoney consumers will also be able to take advantage of more competitive exchange rates compared to prevailing market rates.

Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption.

Representatives from Ant Group said that AUB has been a long-term partner and they are excited to extend the partnership further to enable its e-wallet’s cross-border operations through Alipay+. Despite it being a relatively young e-wallet, HelloMoney has garnered strong growth and adoption momentum among users. Through this partnership, users of HelloMoney can rely on the e-wallet when they travel overseas, too, without the hassle of carrying cash or change currencies.

How HelloMoney came to fruition 

Ahead of the COVID-19 pandemic, AUB launched HelloMoney so users can open an account without going to a physical branch and perform bank-to-bank fund transfers, buy prepaid load, remit money through PeraPadala, pay via QR code, settle bills, withdraw via ATM, and shop using the HelloMoney’s own virtual Mastercard. The launch was immediately followed by the release of Hello Pag-IBIG, the companion mobile app to the Pag-IBIG Loyalty Card Plus where cardholders can manage their account and perform banking transactions. In 2021, AUB introduced the HelloMoney Mastercard for online shopping.

HelloMoney posted double-digit growth in transactions even as lockdown restrictions have started to ease. As of October 2022, the number of HelloMoney transactions has reached 19 million, a 45% increase compared to 2021, while the value of transactions reached USD 1.12 billion or 49% higher than in 2021.

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Keywords: cross-border payments, virtual card, MasterCard, digital wallet, mobile payments, expansion
Categories: Payments & Commerce
Companies: Alipay+, ASIA UNITED Bank
Countries: World
This article is part of category

Payments & Commerce




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