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Capital A partners with UnionDigital Bank

Monday 31 July 2023 14:03 CET | News

Capital A has announced a partnership with UnionDigital Bank involving its three key subsidiaries, AirAsia, airasia Superapp, and BigPay to better the travel booking experience.

 

Per the announcement, AirAsia is the airline business of Capital A, whereas airasia Superapp is the one-stop travel platform providing services like flights, hotels, ride-hailing, loyalty programmes and more. BigPay is the fintech arm offering accessible and secure digital financial services with the aim to improve financial well-being and accessibility in Southeast Asia.

As part of the collaboration, UnionDigital Bank is set to provide embedded finance in partnership with BigPay within the airasia Superapp travel platform, the main booking channel for AirAsia flights in the Philippines. Additionally, this is set to help BigPay have an expanded presence in the ASEAN region, namely Malaysia, Singapore, Thailand, Indonesia, and the Philippines.

Capital A – UnionDigital Bank partnership and its effect on travel

The press release details that this synergy seeks to deliver a simplified and enriched travel booking experience for airasia Superapp’s users and redefine how people travel and manage their finances. The partnership is set to enhance the travel experience of frequent fliers with flexible payment options such as a Fly Now, Pay Later offer available within the airasia Superapp, as well as exclusive co-branding deals. This is thought to help create a progressive shift in how customers plan and pay for their flights and other travel-related services, making fintech increasingly convenient and accessible for Filipinos.

Capital A partners with UnionDigital Bank

Tony Fernandes, CEO of Capital A said that by partnering with UnionDigital, the company is working towards creating a future where travel meets innovative financial solutions that facilitate everyone’s journeys with ease, as they are looking to redefine travel coupled with fintech as an accessible and enriching experience. Adding on this, the official stated that data highlights 7 out of 10 of the company’s Phillippines-based customers save up for their travel plans, budgeting to ensure a comfortable experience, which determined the company to break down barriers and create an increasingly connected and inclusive global community.

UnionDigital Bank’s partnership with BigPay, a mobile wallet offering financial services in Malaysia and Singapore, helps solidify its expansion into the Philippines, with the announcement detailing that BigPay will be enabled to provide Philippine customers with secure and simplified financial services set to better their financial health and management. 

Adding on this, Zubin Rada Krishnan, CEO of BigPay said that as tourism in the region flourishes, the company is looking forward to elevating the end-to-end travel and payment experience of Filipinos through the collaboration with UnionDigital Bank and airasia. The spokesperson believes the partnerships bring BigPay closer to making financial services increasingly accessible in the region and bettering lives through innovative and smart financial services.

Per the announcement, these collaborations are thought of as a turning point in the progression of the local banking and travel sectors and reinforce UnionDigital Bank’s commitment to driving innovation and fostering economic growth alongside these industry players.

Henry Aguda, President and CEO, UnionDigital Bank also said that the news marks a pivotal moment for two important sectors in the Philippines, stating that they are paving the way towards improved convenience and accessibility and a financially inclusive Philippines.


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Keywords: partnership, payments , BNPL, embedded finance, fintech, paytech, financial inclusion, banking, travel payments, super app
Categories: Payments & Commerce
Companies: airasia, BigPay, Capital A, UnionDigital Bank
Countries: Philippines
This article is part of category

Payments & Commerce

airasia

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BigPay

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Capital A

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UnionDigital Bank

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