Asia United Bank (AUB), which is led by Rebisco, is now making it possible for more local businesses in the Philippines to accept cross-border digital payments from Malaysia, South Korea, and Hong Kong via their recently launched Alipay+ and AUB PayMate app.
The AUB Paymate app is a web-based platform that allows establishments to accept Alipay and WeChat Pay transactions from Chinese nationals. It also provides its merchant partners with cashier management, as well as transactional and reportorial functions.
IMAGE CREDIT: www.aub.com.ph
In a press statement, the bank said the new app will give a much-needed boost to merchants serving the tourism sector as travelers can now pay using their home country’s e-wallets for any purchases related to tourism, retail, food & beverage, as well as entertainment and similar other attractions in the Philippines.
According to Mags Surtida, head of the AUB Cards and Acquiring Group, “We see a resurgence of inbound personal travels this year, so our partnership with Alipay+, the first in the Philippine banking sector, will give a much-needed boost to merchants serving the tourism sector.”
Increasing digitalized travel services in PH
To grow the industry, the Department of Tourism (DOT) has since increased efforts to digitalize travel services nationwide. As of the end of June this year, an estimated 2.67 million tourists have visited the Philippines with South Koreans leading the list of foreign visitors and Malaysia being among the top 10.
The DOT believes that with the market’s expansion, all kinds of retailers should now also be able to accept digital payments from their consumers.
Thanks to AUB’s all-in-one digital payment acceptance tool, foreign tourists in the Philippines can now make transactions that are connected to travel, shopping, food and drink, entertainment, as well as tourist attractions by simply using the e-wallet apps from their respective home countries.
Along with the e-wallet Alipay (Chinese mainland), which Filipino retailers have started accepting since 2017, the new app will now also accept payments from e-wallets used in Hong Kong (AlipayHK), South Korea (Kakao Pay), and Malaysia (Touch ‘n Go eWallet).
Local businesses in the tourism, retail, food and beverage, as well as the entertainment industry, can now also accept international payments through Alipay+. According to Surtida, users of the AUB Paymate app can soon expect additional foreign wallets to be added to this single QR code.
Increasing digitalized travel services in PH
With its launch, the AUB Paymate app has now made it possible for more than 5,000 stores in Manila and Cebu to accept Alipay+.
One of the first companies in the Philippines to implement Alipay+ was SSP Mactan, a major operator of food and beverage outlets in popular tourism destinations across the world, including all of its stores in the Mactan Cebu International Airport (MCIA).
Dr. Cherry Huang, general manager of Ant Group, the developer of Alipay +, said that Alipay+ Offline Merchant Services is helping strengthen the company’s relationship with AUB to improve travelers’ journeys when they return to the country. She also stated that the company’s strengthened partnership with the bank is meant to help enhance tourists’ travel experience in the Philippines.
“Digital payments are now more crucial than ever, especially for visitors from other countries who are accustomed to making purchases via their bank apps and e-wallets,” said Huang.
“We want to support more merchants in integrating Alipay+ through our local partners — fostering a thriving digital ecosystem, expanding opportunities for partners and merchants, and improving the usability and convenience for customers,” she added.
The AUB is the pioneering bank partner in the Philippines of Alipay+, a global cross-border digital payments, marketing, and digitalization solutions.