The partnership involves Capital A’s three key subsidiaries, namely its airline AirAsia, one-stop travel platform AirAsia SuperApp, and fintech arm BigPay.
These collaborations were unveiled at the Apec Business Advisory Council (Abac) meeting press conference in Cebu yesterday, which was attended by industry leaders and policymakers.
Under the partnership, UnionDigital Bank will provide embedded finance in partnership with BigPay within the SuperApp in order to improve users’ booking and travelling experience.
Among features that will be offered are a “fly now, pay later” flexible payment option, and exclusive co-branding deals.
“With UnionDigital, we are now on our way to create a future where travel meets innovative financial solutions that facilitate everyone’s dream journeys with unparalleled ease,” said Capital A CEO Tony Fernandes.
UnionDigital Bank’s partnership with BigPay solidifies its expansion into the Philippine market. The mobile wallet is currently servicing the Malaysia and Singapore markets.
“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,” said BigPay CEO Zubin Rada Krishnan.
“With these key partnerships, we believe we can continue to make lives better in the Philippines through innovative and smart financial services,” he adds.
Meanwhile, UnionDigital Bank CEO and president Henry Aguda said the partnership marks a pivotal moment which will benefit Filipinos though greater accessibility and innovation.
“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.
“As we continue to push boundaries and pioneer new initiatives with like-minded partners, a financially inclusive Philippines will surely be on its way,” said Aguda.
As at 3.58pm, Capital A’s share price was up 1.5 sen or 1.65% at 92.5 sen, giving it a market capitalisation of RM3.86 billion.