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June 23, 2024

BPI partners with Alipay for cross-border mobile payments

Bank of the Philippine Islands (BPI) led by bankero TG Limcaoco has partnered with Alipay of billionaire Jack Ma to enable digital banking customers to shop global.

Leveraging on Alipay+, a suite of global cross-border mobile payments and marketing solutions operated by Ant Group, BPI is now available as a payment option at regional and global online merchants.

BPI chief digital officer Noel Santiago said that the COVID-19 pandemic has rapidly accelerated the shift of payment behavior and preference of Filipinos to digital from cash.

“We aim to better serve and engage the now digitally savvy customers, by continuously innovating and expanding our digital ecosystem of partners and merchants, for an enhanced digital experience that goes beyond banking,” the bankero said.

With its push to adopt new technologies, about 91 percent of the listed bank’s transactions are now digital, up from 85 percent prior to the pandemic.

The 170-year old bank booked a 20 percent rise in its digital customer base to 4.9 million in 2021.

“With the use of BPI Online credentials, the partnership with Alipay+ will bring a convenient and seamless payment experience to BPI customers and connect them to regional and global brands,” Santiago added.

Since its launch in 2020, Alipay+ has seen strong adoptions among regional and global online merchants across e-commerce, digital entertainment and O2O, including leading brands such as Agoda, Apple, Foodpanda, Google, and Shein.

More than one million offline merchants in major European and Asian markets have also partnered with Alipay+ since.

Ma’s Ant Group, the owner and operator of Alipay, introduced Alipay+. One of the world’s leading digital payment platforms, Alipay serves hundreds of millions of users by connecting them with merchants and partner financial institutions that offer inclusive financial services and digital daily life services.