The Bank of the Philippine Islands (BPI) and global mobile payments provider, Alipay+, operated by Ant Group, have sealed a new partnership that will enable digital banking customers to make global payments and purchases.
BPI is the first bank to partner with Alipay+ to broaden its payments service for customers beyond local merchants, with the bank now also available as a payment option at any online merchant supported by Alipay+.
“The pandemic has rapidly accelerated the shift of payment behaviour and preference of Filipinos from cash to digital,” BPI chief digital officer Noel Santiago said.
“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.”
Santiago also revealed 91 per cent of BPI’s transactions are digital, increasing by six per cent since before the Covid-19 pandemic began. The bank’s digital customer base also rose to 4.9 million and the number of active users increased by 20 per cent last year.
“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,” he said.
Since its launch in 2020, Alipay+ has been adopted by regional and global online merchants across e-commerce, digital entertainment and online-to-offline (O2O) commerce, including brands such as Agoda, Apple, Foodpanda, Google and SHEIN.
“Digital payment is not only about mobile wallets, but also includes banking apps and other digitalised payment methods,” said Guoming Cheng, Ant Group’s general manager of Alipay+ Global Payment Partnership.
“Alipay+ is working closely with digital payment providers such as BPI to alleviate cross-border payments pain points for consumers.
“BPI is one of the largest and most trusted banks in the Philippines with a loyal customer base. We are excited to partner with BPI to make regional and global brands more accessible to local consumers and to enhance their lifestyle.”