Singapore firm eyes Greenergy for remittance services

Published February 21, 2021, 5:30 AM

by James A. Loyola

Singapore-based Aleta Planet, a certified member of UnionPay International, is eyeing Greenergy Holdings, Inc. (GREEN) of agri-entrepreneur Antonio Tiu as partner for the issuance of virtual cards as well as cross-border money remittance services.

Under the proposed collaboration, Aleta Planet will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates.

This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts. 

Greenergy, in turn, shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates.

Fintech is among Tiu’s overall goals for his business which aims to help Filipino consumers attain financial inclusion, especially the unbanked and underbanked, to have easier access to the financial system.

The deal would pave the way for Greenergy’s development of a fintech arm by providing fully digital cross-border money remittance services, consistent with Tiu’s vision of creating a seamless e-commerce landscape using financial technology (fintech) for Filipinos especially agriculture stakeholders to capture global opportunities. 

Other services under the planned partnership will include payment acceptance, domestic and cross-border B2B money transfers, e-commerce and white-labelling for financial institutions and corporations and co-branding programs to co-brand partners in relation to the financial technology services it provides.

In all, Tiu wants all his businesses to help address Filipinos’ need for agricultural products, fintech, clean energy, sustainable transit-oriented real estate development, green transportation and medical technology among others.

The goal is to maximize opportunities for business growth, enhance shareholder value and cater to the evolving needs of Filipino consumers especially during this time of the COVID-19 pandemic.

Founded in 2014 in Singapore by a team of professionals with strong business and technology expertise within the banking and finance industry, Aleta Planet is at the forefront of facilitating cross border payments to and from China.

It specializes in end-to-end technology solutions for financial institutions and corporates and provides payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore.

The firm focuses on a client-specific, solutions-oriented approach and has successfully delivered leading-edge technology solutions.

Aleta Planet is also a direct acquirer and issuer of UnionPay International, offering cross-border, multi-currency transactions safely and securely.

Being a Certified Principal Member of UnionPay International, Aleta Planet enables merchants to accept over 8.4 billion UnionPay cards issued globally. Additionally, Aleta Planet issues UnionPay commercial and retail cards.

Greenergy is poised to transform into a big holding firm upon its consolidation of Tiu’s assets like digital banking and the AgriToken ecosystem which is in preparation to launch it own virtual currency for its closed loop ecosystem. 

Tiu earlier said he is converting Greenergy to his holding firm to own assets such as food and agri, biotech, fintech projects, green infrastructure and renewable energy.(James A. Loyola)