Asia United Bank (AUB) of the Ng family aims to gain more market share for its e-wallet business by expanding its product offerings and widening its global reach.
"To continue growing our e-wallet market share, we will embark on more innovations in the coming years, such as offering microinsurance and digital savings solutions, in addition to further widening our global reach and acceptance network," said AUB President Manuel A. Gomez during the launch of its partnership with the Parañaque Integrated Terminal Exchange.
He added, "we are also introducing more enhancements to the user experience and simplifying HelloMoney's features."
AUB's e-wallet plans to offer microinsurance through trusted partners for wider financial inclusion and enable digital savings through smart savings solutions, goal-based saving features, and automated savings options.
It also aims to further expand its global reach via Alipay+, enhance its connectivity with existing Japan and Korea corridors, forge more Southeast Asian country partnerships, and offer more competitive cross-border rates and widen its acceptance network.
"We have been forging digital partnerships such as the one with Alipay+ that made AUB the first Philippine bank with an e-wallet that can be used for cross-border mobile payments in 2022," said Gomez.
"This also brought HelloMoney closer to Filipinos in Japan, South Korea, Malaysia, Hong Kong SAR, and Singapore," he added.
Regarding its newest venture, Gomez said the collaboration with PITX "marks the beginning of an important mission to digitize public transportation payments. Together, we are embarking on a journey to modernize how Filipinos pay for their daily commute."
"We aim to make mobile banking easier and help more merchants grow their business globally by bringing HelloMoney to more users," he said.