CEBU CITY, August 26 – Capital A has announced a strategic partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, encompassing three key subsidiaries – AirAsia, airasia Superapp, and BigPay. This collaboration was unveiled at the APEC Business Advisory Council (ABAC) meeting press conference in Cebu, attended by industry leaders and policymakers. AirAsia, the airline business of Capital A, and airasia Superapp, the one-stop travel platform, will join forces with BigPay, the fintech arm providing accessible and secure digital financial services.
The partnership aims to revolutionize the travel booking experience within airasia Superapp by integrating embedded finance from UnionDigital Bank. As the main booking channel for AirAsia flights in the Philippines, this synergy will create a seamless and enriched travel experience for users and redefine the way people travel and manage their finances. The collaboration will enhance the travel experience for frequent fliers, offering flexible payment options through a Fly Now, Pay Later offer available in airasia Superapp, along with exclusive co-branding deals.
This will make fintech more convenient and accessible for Filipinos and encourage a progressive shift in how customers plan and pay for their flights and travel-related services. Tony Fernandes, CEO of Capital A, expressed excitement about the partnership, stating, “We are on our way to create a future where travel meets innovative financial solutions, facilitating everyone’s dream journeys with unparalleled ease. This collaboration with UnionDigital as our proud partner will redefine travel coupled with fintech as an accessible and enriching experience.”
Zubin Rada Krishnan, CEO of BigPay, highlighted the significance of the partnership, saying, “BigPay is one step closer to making our financial services highly accessible in the Philippines, empowering people to level up their lives, one transaction at a time.” The partnership between UnionDigital Bank, AirAsia, and BigPay represents a turning point for the local banking and travel sectors in the Philippines, promising greater convenience, accessibility, and innovation for Filipinos. It reflects UnionDigital Bank’s commitment to driving innovation and fostering economic growth alongside key industry players.
As the collaboration paves the way for a more financially inclusive Philippines, Henry Aguda, President, and CEO of UnionDigital Bank, shared his vision, “We are forging a path towards greater convenience, accessibility, and innovation to empower Filipinos to live better lives.” This groundbreaking alliance demonstrates the dedication of Capital A, UnionDigital Bank, AirAsia, and BigPay to drive positive change and uplift the lives of Filipinos, setting the stage for a brighter future filled with innovative and smart financial services.
The official signing ceremony will take place on August 1, 2023, and represents a significant step in BigPay’s expansion across ASEAN, including Malaysia, Singapore, Thailand, Indonesia, and the Philippines.