AllBank and UnionPay International collaborate to boost digital payments in the Philippines – BusinessWorld

AllBank (A Thrift Bank), Inc. announced today an exciting partnership with UnionPay International to boost financial inclusion in a digitally driven market. Through this collaboration, AllBank UnionPay cardholders now enjoy the convenience and efficiency of digital payments at popular merchants in The Philippines, and can even shop online in the comfort of their homes. As soon as international travel restrictions are gradually eased, AllBank UnionPay cardholders may simply bring and present their AllBank UnionPay debit cards, cash cards and/or prepaid cards to shop and/or withdraw cash in 180 countries and regions.

In line with its commitment to digitally modernizing banking products and services, AllBank recently launched its Electronic Know Your Customer (E-KYC) facility where customers can conveniently apply for cash cards / debit cards without physically completing bank forms in any AllBank branches. With this innovation, card application may be initiated using E-KYC via AllBank’s Mobile Banking Application that is readily available for download in both android and iOS mobile devices. AllBank commits to further enhance the features of its cards, and introduce contactless payment features through UnionPay’s QuickPass (contactless) payment facility.

Aside from modernizing traditional payments, AllBank will soon expand the features of its digital wallet powered by UnionPay, so that cardholders can conveniently utilize digital payment functions of AllBank’s Mobile Banking Application and enjoy the benefits of UnionPay QR Code Payment across 12,000 acceptance points in the Philippines and at over 30 million merchants around the world.

“We’re very much thrilled to be joining hands with UnionPay International to offer not just traditional card payments but soon to expand the innovative payment experience for our customers.” said Mr. Jesus Vicente Garcia, President of AllBank. “Our vision is to allow our customers to enjoy a seamless banking experience. Our collaboration with UnionPay International will help our expansion strategy and boost consumer adoption, especially during this pandemic,” said Mr. Garcia.

“As a global payment brand that promotes e-Payments by connecting consumers, financial institutions and businesses, UnionPay is pleased to partner with AllBank to enable more consumers in The Philippines to enjoy quick and secure cashless transactions with AllBank UnionPay Debit and Cash/Prepaid Cards. This collaboration is also in line with our vision to promote financial inclusion in the country. In addition to card payment, AllBank customers can soon enjoy the convenience of making UnionPay QR Code payment both locally and abroad when the AllBank Mobile Banking app is enhanced to read UnionPay QR Code,” said Mr. Qing Zhang, Senior Country Manager, UnionPay Philippines.

ABOUT UNIONPAY INTERNATIONAL

UnionPay International focuses on the growth and support of UnionPay’s global business. In partnership with more than 2,400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.

ABOUT ALLBANK (A THRIFT BANK)

AllBank (A Thrift Bank), Inc. is in the business of providing specialized financing products and services to working-class Filipinos and business owners. AllBank’s fundamental goal is to play a vital role in the development, not only in the communities that its branches call home, but also the businesses that surrounds it.

AllBank offers services and highly competitive products that yield better returns compared to other banks. Banking is never a chore due to its top-notch customer service innovations.

Currently, AllBank has 17 Branches and 30 ATM Terminals operating all over Luzon servicing its more than 25,000 account holders across the country. AllBank also offers 34 different products and services to its customers and its market – the working-class individuals, as well as Entrepreneurs, Business Organizations, and Micro, Small, and Medium Enterprises (MSMEs).

Providing extended banking services for the convenience of its customers, AllBank has commenced its transformation towards Digital Banking. To date, AllBank already has 11 digital banking products and services, with over 12,000 users across the country.