Alipay+ connects 2 million merchants in Japan as global tourists travel to the country for cherry blossom season

Alipay+ connects 2 million merchants in Japan as global tourists travel to the country for cherry blossom season

Saturday, March 30, 2024

• Transactions powered by Alipay+ in Japan rose over 200% during the first three weeks of March, compared with the same period last year;
• Consumption via 16 Alipay+ partner e-wallets and bank apps in is estimated to account for10% of total spending among users in Japan;
• Alipay, AlipayHK, Kakao Pay, Touch 'n Go eWallet, GCash and TrueMoney are among the most popular e-wallets used by travelers to Japan, while MPay, Naver Pay and Toss areseeing rapid growth in transactions;
• Alipay+ has been working with over 40 local acquiring partners to connect and servicemerchants

As merchants in Japan gear up to receive cherry blossom tourists across fromaround the world, Ant International announced that its cross-border mobile payment solution Alipay+ has connected two million merchants across the country, enabling businesses, big or small, to better serve global visitors through a seamless payment experience with their homecountry e-wallets.

There are 16 e-wallets and bank apps accepted in Japan via Alipay+, a suite of cross-border digitalpayment and digitalization technology solutions, namely Alipay (Chinese mainland), AlipayHK(Hong Kong SAR China), MPay (Macao SAR China), South Korea’s Kakao Pay, Naver Pay and Toss, Singapore’s OCBC Digital, Changi Pay and EZ-Link, Malaysia’s Touch ‘n Go eWallet and MyPB by Public Bank Berhad, the Philippines’ GCash and HelloMoney, TrueMoney (Thailand),Hipay (Mongolia), and Tinaba (Italy).

Powered by Alipay+, transaction volume made by e-wallets and bank apps in Japan jumped over 200% in the first three weeks of March, compared with the same period in 2023. Transactionvalue is estimated to account for about 10% of total spending among users during their stay in thecountry, Douglas Feagin, President of Ant International, said during a press conference inTokyo.

Among all, Alipay, AlipayHK, Kakao Pay, Touch ‘n Go eWallet, GCash and TrueMoney are among the most popular e-wallets used by travelers to Japan, while MPay, Naver Pay and Tossare seeing rapid growth in transactions.

Mr. Feagin said, “We are grateful to our over 40 local acquiring partners in Japan, including both big institutions as well as small ones that only have several employees, for their tremendoussupport to promote a seamless, transparent and efficient experience together for local businessesand international travelers.

“By working with these partners, Alipay+ provides global tourists with a seamless digital payment experience that is the same as in their own markets. Without any extra efforts, tourists can make purchases by simply scanning the QR code at merchants of all size, without worryingabout foreign currency exchange or any language barriers.”

In Asakusa, a vibrant neighborhood and popular tourist destination with small souvenir shops andsnack stalls, an increasing number of merchants are leveraging the simplicity of QR code to dobusinesses. The monthly cross-border mobile transaction volume is more than 5 times higher on average.

At Daimaru Matsuzakaya Department Stores, a flagship department store chain in Japan,transaction volume made by Alipay+ partner e-wallets and bank apps rose over 10 times in the firsttwo months of this year, compared with the same period last year.

Mr. Akito Kimura, Manager of Inbound Business Division for Daimaru MatsuzakayaDepartment Stores, said, “Starting with connecting Alipay to make Chinese customers more athome, we are pleased to expand our partnership with Ant International by integrating with Alipay+. This will allow us to accommodate the preferred payment methods of our international customersthrough simple integration. We look forward to working together to drive more innovation, ensuringall customers can enjoy a memorable and peace-of-mind shopping experience at our stores.”

Ms. Venetia Lee, CEO of AlipayHK, said, “Japan is the first foreign destination of AlipayHK as it isone of the most favorite travel destinations for the Hong Kong residents. Powered by Alipay+, HongKong people can now use AlipayHK to make purchases at local stores and use car-hailing inJapan, which are settled in Hong Kong dollars with competitive exchange rates in the market. Withthe increasing acceptance of Alipay+ among local merchants in Japan, the daily transaction valuesand volumes of AlipayHK in the country in the first quarter have surged 3.5 times and 5 times overthe previous quarter. I am confident that the usage of AlipayHK will continue to grow in Japan onthe back of the strong adoption of Alipay+ services among the Japanese merchants.”

Mr. Ren-Ren Reyes, president and CEO of GXI (G-Xchange, Inc.), the mobile wallet operator of GCash said, "Our long-standing partnership with Alipay+ has allowed us to be anindispensable companion for Filipino travelers in now 47 countries and territories around the world.We are glad to continue strengthening our collaboration with Alipay+ to ensure every Filipino has aseamless and secure cashless payment option when they travel abroad."

Mr. Won-Keun Shin, the CEO of Kakao Pay, a major acquirer in South Korea, said, “We areglad that users can easily and conveniently pay with Kakao Pay at 2 million large and small merchants in Japan, one of the most visited countries by Korean tourists. Through discussions with Alipay+ as well as several e-wallet partners representing each country, we will accelerate global expansionand provide more benefits.”

Mr. John Sun, Chairman and CEO of Macau Pass, stated, “As the leading mobile payment e-wallet in Macao, MPay, together with Alipay+ which has launched a suite of innovative digitalcross-border solutions, strives to create a smart e-wallet that facilitates Macao residents to travelglobally, this could also solve the issues they encounter with payment while travelling overseas, thusimprove travelers' payment and shopping experience. MPay will continue to expand in e-payments, lifestyle services, and marketing technology services to develop more open anddiversified intelligent payment business scenarios.”

Mr. Alan Ni, Chief Executive Officer of TNG Digital Sdn. Bhd., the operator of TNGeWallet, said, “As Malaysia's top eWallet provider, we're committed to serving users locally andexpanding globally. Our partnership with Alipay+ has seen transactions surge sixfold this year, specifically in Japan, a true testament to our dedication to innovative payment solutions. Withover half of Malaysia entrusting TNG eWallet as their preferred digital payment and financialservices provider, we aim to be the ultimate travel companion, ensuring easy and safe transactionswherever our users go.”

Ms. Monsinee Nakapanant, Co-President of Ascend Money, the operator of TrueMoneysaid, “Japan ranks as one of the most popular destinations with approximately 1 million Thai travelers each year. We are pleased to work with Alipay+ to create more inclusive cross- borderpayments and enable Thais to enjoy safe, real-time, and cost-effective payments with theiraccustomed home wallet TrueMoney. Enabling the travelers to connect with Japanese merchants of all sizes will also expand their experiences of local culture and people that would make theirtrip more memorable.”

Introduced by Ant International in 2020, Alipay+ now connects over 88 million merchants in 57countries and regions to 1.5 billion consumer accounts on over 25 e-wallets and bank apps,allowing consumers to travel and pay hassle-free globally, and merchants to build out cross-borderconsumer engagement and digital marketing.

The service builds on Alipay+’s extensive regional partnerships, including those with national QR schemes including Singapore’s SGQR, Malaysia’s PayNet, South Korea’s ZeroPay, Sri Lanka's LankaPay and Cambodia's KHQR.

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UnionDigital Bank leads the pack in digital banking, emerges as "Best Digital Bank in the Philippines"

UnionDigital Bank leads the pack in digital banking, emerges as "Best Digital Bank in the Philippines"

Tuesday, March 26, 2024

• UnionDigital Bank is named 'Best Digital Bank in The Philippines’ by TAB Global’s Global Excellence in Retail Finance Awards 2024

• The digital bank subsidiary of Union Bank attributes the recognition to the exceptional growth it achieved in 2023, ending the year with a 65% market share in loans and 25% in deposits among digital banks 

• Within the period, the bank's loan-to-deposit ratio surged from 58% at the end of 2022 to an impressive 69%, surpassing that of its digital banking counterparts in the country 

In a period defined by technological innovation and digital transformation, UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, emerged as a leader in digital banking as it secured the distinguished title of the ‘Best Digital Bank in The Philippines’. Honored by the esteemed Global Excellence in Retail Finance Awards 2024, an award-giving body in the industry led by TAB Global, this achievement underscores UnionDigital Bank's relentless pursuit of innovation and its dedication to providing cutting-edge digital banking solutions. 

In 2023, UnionDigital Bank witnessed a remarkable surge in its balance sheet, observing an increase in both deposits and loans, more than doubling its previous performance. As of December 2023, the bank had attained a substantial 65% market share in loan portfolio size, while in deposit, it ranked second among digital banks with a commendable 25% share. Within the period, the bank's loan-to-deposit ratio surged from 58% at the end of 2022 to a noteworthy 69%, surpassing that of its digital banking counterparts in the country. 

This period marked a significant milestone as UnionDigital Bank achieved profitability in 2023, showcasing extraordinary growth with revenue soaring by 13 times, totaling over PHP 5 billion. The bank’s latest accolade as the ‘Best Digital Bank in The Philippines’ is a testament to its exceptional growth trajectory and enhanced profitability. 

"Being acknowledged as the 'Best Digital Bank in The Philippines’ confirms UnionDigital Bank's dedication to pioneering innovation and delivering exceptional value to our customers. This honor mirrors the hard work and dedication of our team in setting new benchmarks for digital banking and continuously striving to lead the industry into the future," said Henry Aguda, CEO of UnionDigital Bank. 

UnionDigital Bank, since its inception as the digital bank subsidiary of Union Bank of the Philippines, has been a trailblazer in the digital banking landscape, constantly pushing boundaries and redefining industry benchmarks. Through strategic collaborations with key partners such as digital healthcare platform mWell, ride-hailing Angkas, and Malaysian airline firm Capital A, UnionDigital Bank has reinforced its commitment to innovation and customer-centric services. 

"As we continue to solidify our position as a rapidly profitable digital bank in the Philippines, the recognition by The Asian Banker underscores our ongoing commitment to excellence and innovation in the industry. This distinction serves as an encouragement for us to further our efforts in promoting financial inclusion, enhancing our financial services, and cementing our role as a key contributor to the digital banking sector," commented Aguda.

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The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

For most people, understanding insurance boils down to the four most common types: life, health, auto, and long-term disability. While awareness of insurance importance is increasing, the aforementioned traditional insurance products are failing to resonate with many people due to various reasons including affordability, accessibility, and relevance. These factors have largely contributed to the low insurance penetration in the Philippines, which stands at 1.68% as of September 2023. 

This is where microinsurance is changing the game as insurtechs and insurance companies have introduced personalized microinsurance products that cater directly to the unique lifestyles and needs of Filipinos as they go through various stages of their lives. As an insurtech, Igloo and its partners have been instrumental in facilitating a wide array of microinsurance products that safeguard the unique needs of digital natives and underserved sectors. These products run the gamut from travel insurance, to electronics protection, e-commerce purchase protection, and even protection for the gamers’ health.

“While traditional insurance products may come with high premiums and broad coverage, microinsurance products are designed to provide targeted protection against specific risks that are relevant to our daily lives. By offering affordable products that address immediate needs, microinsurance can serve as the gateway to broader insurance protection and may be key to boosting insurance penetration,” said Roberto Vea, Commercial Lead at Igloo Philippines. 

Among the most popular insurance products Igloo PH and its partners facilitated are Gadget Protection and Online Shopping Protection. In 2023, Gadget Protection sold 10.3 million policies while Online Shopping Protection sold 1.98 million policies highlighting strong customer demand for coverage against electronic device damages and online purchase risks.

“Microinsurance empowers individuals to protect themselves against risks they face today, whether it's safeguarding their electronics from liquid damage or ensuring affordable coverage for spontaneous travel adventures. At Igloo, we believe it’s important for insurers and insurtechs like ourselves to continuously develop relevant products and make sense for our customers,” Mario added.

As of September 2023, microinsurance premiums in the Philippines have increased by 19.6% to P10.16 billion, and over 56 million Filipinos are now insured under microinsurance policies. 

“The growth of the microinsurance industry underscores how the approach to insurance awareness is no longer one size fits all–it must evolve alongside our digital-first lifestyles, safeguarding our ever-expanding virtual assets and providing peace of mind in the face of modern risks,” Vea explained. “This also means ensuring that the products are where our consumers are–online, thus making sure that the entire buyer’s journey from consideration, to purchase, and claims must be easy, accessible, and uncomplicated.”

According to a recent study conducted by Manulife, 41% of Gen Z individuals (aged 18-24 years old, according to McKinsey) plan to purchase insurance online in the next 12 months. Furthermore, the study found that 33% of millennials (aged 25-44 years old) have already bought insurance online. This indicates that younger generations are increasingly preferring and adopting online channels for purchasing insurance.

This is where the availability of embedded insurance was able to expand the channels of distribution, providing consumers with a convenient way to discover, evaluate, and purchase products in just a few clicks. Igloo does this through partnerships with major e-commerce platforms like Lazada and Shopee, leading payment platforms such as DANA in Indonesia and GCash in the Philippines, and retail chains like Circle K in Vietnam.

“As Igloo continues to play a vital role in making microinsurance accessible to millions of Filipinos, we remain committed to prioritizing products that not only raise insurance awareness and adoption but are also relevant, innovative, and customer-centric,” Vea ended.

Learn more about how Igloo’s tailored microinsurance solutions by visiting iglooinsure.com.

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How local chocolate producer Kakaw Galleon made business sweeter with help from PLDT and Smart

How local chocolate producer Kakaw Galleon made business sweeter with help from PLDT and Smart

Thursday, March 21, 2024

The famous line from the 1994 hit movie Forrest Gump, “Life is like a box of chocolates. You never know what you're gonna get” has been true so far for Isagani de Ocampo, owner and chocolatier of Kakaw Galleon.

De Ocampo began his career as a seafarer in 2009 and was trained as a Pastry Chef aboard cruise ships. This was followed by a chance to train under the esteemed Jean-Philippe Maury’s chocolate shop, honing Isagani’s skills under the guidance of masters.

But fate had different plans for the chocolatier. When the pandemic hit in 2020, Isagani belonged to the first batch of repatriated overseas Filipino workers. It was also this time when he started creating his own chocolate formula, dreaming of launching his own chocolate line in the Philippines. 

“It was hard at first because our taste for chocolate is quite different. Filipinos prefer the “stateside” chocolate. So, I thought of making a local version of chocolate that tastes like it’s imported,” he shared. “I wanted to bring the technology and the taste that I learned from abroad closer to chocolate lovers here,” he added.

But starting the business in a pandemic was not easy. For one, he had to rent a separate place for his chocolate factory – which was not possible during the lockdown. De Ocampo had to put his business on hold for a year before he was able to launch his first product in November of 2021.

“It became a hit, and the Department of Trade and Industry (DTI) heard about it. They approached me and offered me help. I held my first bazaar with them in January of the next year and I introduced my product as a local ‘imported’ chocolate. And the rest is history,” he recalled.

To scale his business even further, Isagani saw the value of upskilling and learning how to employ digital tools to boost micro, small, and medium enterprises (MSME) like Kakaw Galleon. When the invitation to attend the eBizNovation program under the livelihood advocacy of PLDT and Smart Communications, Inc. (Smart) came, he did not hesitate to join.

“I’m a non-tech savvy person. Technology and I don’t get along. But I saw the invite to the eBizNovation workshop of DTI and PLDT and Smart, so I attended the event. Then, when I returned home, I told my wife about it, and she volunteered to implement it,” de Ocampo said.

The eBizNovation program is a digital upskilling-to-ecommerce program that aims to provide local entrepreneurs, cooperatives, and MSMEs like Kakaw Galleon the right digital tools to help them grow their businesses online.

Together with government partners such as the DTI, LGUs, local chambers of commerce, and ecommerce platforms like TikTok Shop, eBizNovation trains local business owners like Isagani how to maximize digital commerce to boost their livelihood.

“The skills and knowledge we gained from PLDT and Smart’s eBizNovation training have helped us build our digital platforms and online payment system, and ultimately helped boost our online presence and sales. We are thankful for this opportunity,” the chocolatier shared.

PLDT and Smart are committed to uplifting the lives of Filipinos through livelihood and entrepreneurship opportunities made possible by technology. These initiatives also support the UN SDGs #1 No Poverty and #8 Decent Work and Economic Growth.

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Startup visionaries and a new ED take the stage at the IdeaSpace Accelerator Program Cohort 11 Demo Day

Startup visionaries and a new ED take the stage at the IdeaSpace Accelerator Program Cohort 11 Demo Day

IdeaSpace presents Cohort 11 Demo Day, where visionary techpreneurs showcased their groundbreaking ventures.

Celebrating the spirit of innovation and entrepreneurship, IdeaSpace, a startup enabler supported by the MVP or PLDT and Metro Pacific group of companies, recently hosted a demo day for Cohort 11 of the IdeaSpace Accelerator Program.

Showcasing six startups, the event provided a platform for visionary techpreneurs to pitch their ventures and showcase their journey towards reaching their growth targets and milestones throughout the program to investors, partners, and key ecosystem stakeholders. They were introduced to the community by IdeaSpace’s new Executive Director Jay Fajardo, one of the pioneers of the Philippine startup ecosystem.

The six groundbreaking startups that pitched at the IdeaSpace Accelerator Program Cohort 11 Demo Day are:

Hey Roomie - a community engagement app propelling how people can connect and monetize their interests and passions online.

ITOOH Homestyle - a digital platform that aggregates the finest local furniture and art.

kazam - a platform that aims to directly connect kasambahays and homeowners, presenting safer and smarter online interactions.

Kintab - a mobile car care platform designed to cater to car owners with packed schedules.

Kippap Learning Corporation - an education tech startup focused on empowering students and regulated professionals to prepare for board exams.

Molinos de la Especia - a consumer packaged goods provider aiming to bring premium spices globally.

Each startup brought something unique to the table, demonstrating their significant growth, market traction, and bold visions for the future with innovative technologies and robust business models. 

Throughout the 5-month IdeaSpace Accelerator Program, the startups had the opportunity to gain valuable insights into best practices for business operations, fundraising, marketing, and sales. They were guided by seasoned mentors with prominent roles in the local and global startup ecosystem, enriching their knowledge and capacities for success.

“Our latest cohort demonstrates the spirit of innovation and creativity that define the Philippine startup landscape. Through our Accelerator Program, we've not only provided them with the tools and guidance to thrive but also built a community where fresh ideas flourish. I am confident that these visionary entrepreneurs will continue to make waves, driving our nation towards a future brimming with opportunity and prosperity," said Butch Meily, President of IdeaSpace.

Following the theme “Prope11ing Filipino Startups”, the IdeaSpace Accelerator Program continues to serve as an avenue for high-growth potential startups to reach the next step in their ventures. Committed to nurturing the next generation of Filipino entrepreneurs, IdeaSpace enables them to create positive change in society through innovative ideas.

Jay Fajardo, IdeaSpace’s new Executive Director, also brings a fresh perspective and strategic vision to the forefront of the organization. Fajardo's leadership heralds an exciting new chapter for the accelerator program, allowing a booming landscape where Filipino entrepreneurs can thrive.

“Cohort 11 represents an emerging breed of robust startups focused on practical fundamentals and sound unit economics. The founders have placed great emphasis on generating sustainable revenues and maintaining profitability while delivering tech-enabled innovation. This trend is particularly common with resilient startups during economic downturns in the past and is typical of the winners when economic cycles resume their upward trend. We’re glad to have played a role in strengthening Cohort 11’s best practices, business models, and value proposition—increasing their chances for success,” shared Jay Fajardo, IdeaSpace’s new Executive Director.

To know more about the IdeaSpace Accelerator Program Cohort 11 startup participants, view the online magazine here. Don’t miss your chance to join the ranks of innovators and changemakers—stay tuned for updates on the launch of Cohort 12, happening soon.

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ML Quick Car Loan: Affordable Pre-owned Car Financing Made Easy

ML Quick Car Loan: Affordable Pre-owned Car Financing Made Easy

Wednesday, March 13, 2024

Commuting is very challenging in the Philippines. The decision to purchase a vehicle becomes a necessity instead of a luxury. While the allure of brand-new cars is undeniable, buying a pre-owned vehicle is also a good option especially if budget is an issue. One of the most apparent advantages of opting for a pre-owned vehicle is the substantial cost savings. But even if a pre-owned vehicle is more affordable, you might still need to take a car loan. 

As a trusted financial partner with a rich history, M Lhuillier has emerged as a go-to choice for Filipinos seeking accessible, customer-centric, and transparent car financing solutions. Recognizing the unique needs of its customers, M Lhuillier introduces ML Quick Car Loan, offering hassle-free financing for second-hand cars from 2014 and up. 

Why Opt for Second-Hand Cars with ML Quick Car Loan?

Practicality and Affordability

The primary reason customers choose second-hand cars is practicality. With ML Quick Car Loan, practicality meets affordability, as second-hand cars are inherently more budget-friendly. The bulk of depreciation has already occurred, making these vehicles a cost-effective choice for buyers.

Lower Insurance Rates

ML Quick Car Loan acknowledges the cost-conscious nature of second-hand car buyers. Not only are the cars more affordable, but insurance rates are also significantly lower compared to brand-new units. This translates to more savings in the long run, allowing customers to enjoy their dream car without breaking the bank.

What are ML Quick Car Loan Features?

Qualification Criteria

ML Quick Car Loan is available to locally employed individuals, OFWs, pensioners, and self-employed individuals with proof of income. Even pensioners with proof of pension payments are eligible to apply.

Financing Terms

The financing process is straightforward. Clients pay the dealer 30% of the appraised value, and M Lhuillier covers the remaining 70%. The loan term spans a maximum of 36 months, ensuring flexibility for borrowers. Chattel fee and comprehensive insurance are mandatory, offering comprehensive protection for both the borrower and the vehicle.

Easy Application Process

Applying for an ML Quick Car Loan is as easy as 1-2-3. First, check if you qualify for pre-owned car financing. Then, choose a second-hand car from a reputable dealer, with accepted brands including Honda, Toyota, Mitsubishi, Isuzu, Ford, Suzuki, and Nissan. Pay 30% of the cost as a downpayment. Finally, bring the necessary documents, including the car's OR/CR, to any M Lhuillier branch for assistance with the remaining 70%, or conveniently apply online.

Don't Miss Your Chance - Get Your Dream Car Today!

With ML Quick Car Loan, your dream car is just a few steps away. Don't miss the opportunity to drive home your desired second-hand car. For more details and to kickstart your journey towards car ownership, visit https://mlhuillier.com/car-loan/. 

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foodpanda Logistics Celebrates Women's Month with a Special Livelihood Program for Ka-panda Ladies

foodpanda Logistics Celebrates Women's Month with a Special Livelihood Program for Ka-panda Ladies

Sunday, March 10, 2024

Women on Wheels initiative aims to foster women empowerment

foodpanda logistics is celebrating Women's Month by granting livelihood training and packages for women from their Ka-panda delivery fleet.

The program was officially launched during International Women’s Day and is dubbed as Ka-pandaBIZ: Women on Wheels (WoW). The beneficiaries were selected to undergo training to start their own small business and receive a business capital worth Php 100,000. 

Ron Sanders, Rider Experience Lead of foodpanda logistics Philippines, emphasized the importance of supporting their delivery partners, particularly women Ka-pandas, towards success and improved livelihoods.

Sanders revealed that this focus has yielded tangible results, as evidenced by the threefold increase in the number of women within the expanding fleet of foodpanda logistics delivery partners as of 2023. 

"With Ka-pandaBIZ: WoW, we are not just celebrating women, we are actively working to enhance their productivity, income, and living standards," he remarked, highlighting the program's commitment to inclusive business practices and women's empowerment.

The beneficiaries will undergo online training sessions, mentoring, on-ground retail store visits, and catch-ups with mentors to be spearheaded by foodpanda logistics’ official partner organization, HAPINOY. 

Hapinoy’s Mark Ruiz shared that this initiative will be anchored under their training and mentoring program, HapiSkwela, designed for sari-sari store owners. This program provides education, business tools, personal development training, and values formation. "Learning from all these aspects will serve as the foundation of their journey as happy, growth-oriented, and socially responsible microentrepreneurs," he explained. 

Ruiz added that they are delighted to be chosen as a partner in this endeavor. “foodpanda logistics shares our commitment to upskilling and providing sustainable livelihood to these women."

Supporting livelihood for women as Ka-panda delivery partners

According to the November 2023 Labor Force Survey (LFS), there has been a decrease in the participation of women in the labor force this year, dropping from 57.8% to 55.4%. Factors such as family responsibilities, schooling, and age-related considerations have influenced this decline, resulting in a lower participation rate compared to men, which stands at 75%.

In response, the National Economic and Development Authority (NEDA) has set a target under the Philippine Development Plan (PDP) to increase female labor force participation from 2023 to 2028 by creating more economic opportunities for women.

Acknowledging this disparity, Sanders emphasized the significance of offering equal opportunities for women to become part of their delivery fleet. "We extend a warm invitation to all women interested in working as delivery partners at foodpanda logistics, and we're fully committed to supporting and guiding them every step of the way," he affirmed.

Ka-pandaBIZ: a livelihood program for Ka-pandas

The Ka-pandaBIZ: WoW initiative is an integral component of foodpanda logistics' broader livelihood program, Ka-pandaBIZ, designed to empower delivery partners and their families through sustainable economic opportunities. 

Three Ka-pandas have successfully graduated from the Ka-pandaBIZ program, receiving startup capital and comprehensive business training for their sari-sari stores. They graduated last year after an extensive training, where they acquired skills in various business management areas, including store setup, financial management, product marketing, and business expansion.

“Similiar to these Ka-pandas who have also undergone an extensive training curriculum, these women are poised to become thriving micro-entrepreneurs, and we hope they will also drive positive change within their communities,” Sanders said.

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Need Instant Cash? Reasons Why Pawning Jewelry Is Your Best Option

Need Instant Cash? Reasons Why Pawning Jewelry Is Your Best Option

Life is unpredictable. Financial emergencies can arise unexpectedly leaving individuals in need of quick and reliable solutions. One often-overlooked way to secure immediate cash is through pawning jewelry. This age-old practice provides a range of advantages, offering a convenient and accessible means for individuals to overcome short-term financial challenges. If you need an instant cash but is still not convinced about pawning your jewelry, here are the reasons why this option stands out as the best way to access cash swiftly.

Instant Liquidity

One of the primary benefits of pawning jewelry is the instant liquidity it provides. Compared to traditional loans that involve lengthy approval processes, ML Quick Cash Loan offers a quick and hassle-free way to convert your valuable assets into cash. This is advantageous during times of urgent financial need when time is of the essence.

No Credit Checks

Unlike conventional lending institutions, pawnshops do not perform credit checks. This makes pawning jewelry an ideal option for individuals who have difficulty obtaining a loan from traditional sources. The value of the pawned item serves as collateral, eliminating the need for a credit history review.

Asset-Based Loans

When pawning jewelry, the loan amount is determined by the appraised value of the item. This allows individuals to receive a loan amount that reflects the true worth of their jewelry. Moreover, it provides a flexible and tailored solution, ensuring that borrowers can access an amount that suits their specific financial needs.

M Lhuillier has the highest appraisal and charges the lowest interest rate in the industry. This is an assurance that you get the most value out of your pawned jewelry. 

No Strings Attached

When pawning jewelry, borrowers are not obligated to repay the loan within a rigid timeframe. M Lhuillier provides a grace period during which individuals can repay the loan and reclaim their valuable items. This flexibility ensures that borrowers can comfortably manage the repayment process without the stress of stringent deadlines. You also have the option to renew your loan when it falls due at any branch of your choice!

Preserve Ownership

One significant advantage of pawning jewelry is that the ownership of the item is retained throughout the loan period. Unlike selling, where ownership is permanently transferred, pawning allows individuals to reclaim their cherished possessions once the loan is repaid. This makes it a viable option for those who wish to retain both their financial stability and sentimental valuables.

Pawning jewelry emerges as a practical and efficient method for obtaining immediate cash when faced with unexpected financial challenges. The process is quick, accessible, and doesn't involve the complexities associated with traditional loans. With instant liquidity, no credit checks, and the flexibility to reclaim valuable items, pawning jewelry proves to be a reliable and convenient solution for those in need of quick financial assistance. With more than 3,000 M Lhuillier branches nationwide, the ML Quick Cash Loan is one of the most convenient and widely available way to have instant cash.

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Annual Visa Consumer Payment Attitudes study reveals significant decline in cash payments amid rise in cashless transactions

Annual Visa Consumer Payment Attitudes study reveals significant decline in cash payments amid rise in cashless transactions

Friday, March 8, 2024

Philippine market sees steady increase in contactless payment acceptance and use

The cashless wave continues to gain momentum in the Philippines as consumer habits shift away from cash dependence, and more towards usage of cashless payments. This is according to Visa’s latest Consumer Payment Attitudes Study, which indicates a notable decline in cash usage to 87%, from 96% in 2022.

The Visa Consumer Payment Attitudes Study is an annual study covering payment behaviors of Filipino consumers when it comes to digital payments, digital banking and the future of commerce. The latest edition is in its 10th year running and was based on interviews conducted in October to November 2023 with 1,000 Filipino consumers aged 18-65 years old, spread across different cities/regions and income brackets, with the minimum monthly income being PHP 12,000.

Driven by the younger (Gen Z and Gen Y) and more affluent segments, Filipino consumers are increasingly embracing cashless transactions, going without cash for an average of 10 days. Specifically, card payments usage was at 70% (including swipe / insert, online, and tap-to-pay / contactless payments) in 2023, while mobile wallets usage stood at 87%, on par with cash transactions.

43% of Filipinos who were surveyed now carry less cash in their wallets mainly due to the growing consumer habit of using cashless and contactless payments, alongside the increasing acceptance of cashless payments among stores & merchants.

Supermarkets (88%), food and dining (86%), and bill payments (82%) are the leading merchant categories that consumers observed to have opened up acceptance of cashless payment methods compared to a year ago.

“Filipinos are becoming more comfortable with cashless payments, and we are confident that they will continue to embrace new innovations in the digital payment landscape,” says Jeff Navarro, Visa Country Manager for the Philippines. “With growth attributed to increasing payment acceptance across merchants for cards, both dip and contactless, as well as mobile wallets, Visa remains committed to ensuring a seamless transition to a cash-lite society by providing secure and convenient digital payment solutions.”

Growing acceptance and usage of contactless payments among Filipinos

Contactless payments – including contactless cards, QR codes, and mobile wallets – are driving the growth of cashless payments in the country.

According to the study, about 9 in 10 Filipinos are aware of and interested in using contactless cards and QR codes when paying for their transactions. Specifically, 32% of Filipinos used contactless cards for their payments in 2023, mainly driven by the affluent population. Meanwhile, 55% used QR codes, with at least 50% adoption across age groups except for consumers aged 59-65 (31%).

Among mobile wallet users, paying through QR codes is the most preferred method for 38% of consumers, making mobile wallets the most preferred funding source for QR payments. Scanning the QR code in-store is the preferred mode of payment by 78% of its users.

When travelling overseas, Filipinos prefer to use cards for cross-border payments, where 55% of consumers prefer debit and credit cards for the convenience, time savings, and hassle-free user experience. An emerging trend is the use of QR codes for cross-border payments, with 37% of Filipinos currently aware of and have tried using it. Meanwhile, 69% of those who have not tried it have expressed interest in using it in the future.

Road to a cashless society

With the shift to digital forms of payment, 52% of consumers are confident to go without the use of cash, and rely on cashless payment methods entirely for at least a week. Moreover, 1 in 3 consumers (37%) believe that the Philippines will be a cashless society by the year 2030 – if not sooner.

“Our study shows that the cashless wave is maintaining its momentum in the Philippines. We are moving closer to achieving a cashless Philippine society, but we still have some way to go,” said Navarro. “Visa plays a strategic role in the payment ecosystem to drive financial and digital inclusion by partnering with the government, banks and financial institutions, and fintechs to support the development of digital payments in the Philippines. We are supporting the digitization journey in the Philippines – such as Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap – by providing consumers and businesses with convenient, seamless and safe digital payment solutions.”

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Igloo and Lazada unveil protection plans for electronics, phone screens, and beauty products in the Philippines - a first for the e-commerce platform in the country

Igloo and Lazada unveil protection plans for electronics, phone screens, and beauty products in the Philippines - a first for the e-commerce platform in the country

Monday, March 4, 2024

Regional insurtech Igloo has partnered with leading e-commerce platform Lazada to offer Filipino shoppers protection plans for their online purchases. This is part of Igloo’s continued mission to improve the online shopping experience through purchase protection products.

“E-commerce is a fast-growing industry in the Philippines and it’s safe to say that more and more Filipinos have embraced online shopping as a fast and convenient way to access a diverse range of products and services. There are currently 38.9 million e-commerce shoppers in the Philippines, a number that is expected to reach 55.8 million by 2025. Of these, approximately 25% of Filipinos who shop online do so at least once a month,” said Roberto Vea, Commercial Lead at Igloo Philippines. "As the number of Filipinos engaging in online purchases continues to rise, it becomes increasingly imperative to provide them with protection throughout their entire shopping journey, extending support even after they've received their products."

In collaboration with Igloo, Lazada has introduced three comprehensive online shopping protection products tailored for its electronics and beauty products. These protection plans are seamlessly integrated into the checkout process. Before finalizing their payment, customers will be presented with a tailored insurance plan specific to the item they are purchasing. This includes a transparent display of the associated premium, ensuring a clear understanding of the additional cost that will be integrated into their total transaction.

The Electronic Protection and Gadget Protection products ensures extensive protection for all kinds of electronic products and gadgets. from accidental and liquid damage, as well as loss due to theft or robbery, along with the added benefit of professional repair and service at authorized centers. Both products are underwritten by Etiqa Insurance. Specifically for non-electronic products, Igloo and Etiqa present Merchandise Protection which protects orders from accidental damage and theft.

Additionally, Product Liability Protection addresses adverse reactions to beauty products (cosmetics, lotions, bath essentials) purchased on Lazada. Underwritten by Liberty Insurance, coverage encompasses protection against chemical burns and severe allergic reactions (anaphylaxis) resulting from product use. Consumers availing of this product gain access to teleconsultations, medical reimbursements, and emergency hospitalization.

“At Igloo, our core mission revolves around facilitating easy, affordable, and convenient access to insurance products for consumers. We believe that insurance should be straightforward and accessible to everyone. In line with this commitment, our collaboration with Lazada has been carefully designed to ensure a seamless and hassle-free experience for individuals seeking protection for their online purchases,” Vea added.

Igloo’s partnership with Lazada is part of its goal to increase insurance penetration by offering microinsurance products designed to cater to the increasingly digital lifestyle of consumers in the Philippines and across the region.

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SEA’s Outbound and Inbound Tourism Spending Rebounds on Ant Group's Cross-Border Merchant Networks During Chinese New Year Break

SEA’s Outbound and Inbound Tourism Spending Rebounds on Ant Group's Cross-Border Merchant Networks During Chinese New Year Break

Data from Ant Group shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the COVID-19 pandemic, especially in cross-border tourism. 

Robust recovery, diversified destinations, and scenarios for Chinese tourists in the region are made possible by Alipay+

Through the Alipay+ cross-border mobile payment technology solutions, travelers may pay for goods, food and beverage, recreation, and entertainment at over 8 million merchants in over 70 countries and regions, all from their familiar home app, without needing to change money or carry cash. On top of this, they can enjoy in-app instant tax refunds, as well as transparent and competitive exchange rates. Within the Philippines, Alipay+ is currently expanding its merchant coverage in Manila and Cebu, the two most popular destinations in the country. 

Meanwhile, a global campaign has been in full swing on the Alipay+ merchant network since December 2023 to attract outbound travel for Chinese tourists. In the CNY holiday week between February 9th and 12th, the number of transactions made by Alipay users overseas surpassed that of 2019 by 7 percent, while consumer spending recovered to 82 percent of the 2019 level, or 2.4 times that of 2023. Compared to last year, spending by Chinese tourists in the Philippines via their home e-wallet, Alipay, particularly increased by 50 percent this year, with shopping as the most popular category. Other than those from the Chinese mainland, tourists from South Korea, Hong Kong, and Malaysia are the top three biggest spenders in the Philippines.

Closer socio-economic connections between Hong Kong SAR, Macao SAR, and the Chinese Mainland, the new visa-free policies from major Southeast Asia destinations, and recovering international flight capacities are key enablers of the cross-border travel boom. 

Hong Kong SAR, Japan, Macao SAR, Thailand, Malaysia, Singapore, South Korea, France, Australia, and Canada are the top destinations for Chinese travelers by their Alipay spending. Thailand, Malaysia, and Singapore combined saw a 7.5 percent increase over 2019, and a 580 percent leap over 2023, with Thailand leading in total volume and Malaysia showing the largest increase. 

Besides a larger physical parameter, the Chinese globetrotter is also expanding her interest from traditional activities like shopping and tourism spotshopping to more immersive and unique local experiences. Globally in the CNY week, Chinese tourists spent 70 percent more on food and beverage than in 2019, venturing from downtown hotspots to out-of-the-way local treasures. 

In-town transportation volume grew fast thanks to the passion for "travel local.". Alipay users in multiple destinations now may choose from rail, taxi, rideshare, car rental, bus, subway, and even scooter-share when abroad, all from the familiar app on their own phone. The cost per ride on any vehicle for Alipay travelers dropped by 60 percent compared to 2019. A lighter carbon footprint also means more local SMEs on the public transport network gain a share of international tourist revenue. 

Promoting cross-border travel among Alipay+ partner e-wallets and bank apps

The Chinese New Year is widely celebrated across Asian communities. With new partnerships in 2023 and increased travel, total cross-border spending on the region's leading e-wallets powered by Alipay+ increased by 252 percent year-on-year. Daily average transactions increased by 304 percent. Japan, South Korea, Macao SAR, Thailand, and Singapore are the top 5 most popular destinations for Alipay+ consumers besides the Chinese mainland, where the Philippines ranked as the 8th most popular destination globally.

"With its use spreading across age and income groups, increasingly mobile payment is becoming an important promoter of local and cross-border commerce in Asia and beyond, " said Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+. "We expect to grow our partnerships with payment industry leaders, national tourist agencies, and merchants in 2024 to generate more growth. "

Enabled via Alipay+, Alipay (Chinese mainland) has been accepted by local merchants in the Philippines since 2017, while more e-wallets launched locally last year, such as AlipayHK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia). Overall, these e-wallets provide added convenience to tourists, while bringing more growth opportunities to local merchants. 

The addition of these new e-wallets ahead of the peak travel season, with a predicted 8.21 million inbound tourists for the Philippines this year, provides a convenient payment experience for tourists while bringing more growth opportunities to local merchants.

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Skyro reports strong 2023 performance, expected to triple in 2024 as it expands digital financial offerings for Filipinos

Skyro reports strong 2023 performance, expected to triple in 2024 as it expands digital financial offerings for Filipinos

Sunday, March 3, 2024

Skyro, a fast-growing fintech provider in the Philippines, continues its commitment to transform the local financial landscape by delivering accessible and affordable digital financial solutions to Filipinos.

Skyro is committed to empowering more Filipinos by offering a range of digital consumer finance products such as product loans, cash loans, and other lending products designed to meet the diverse financial needs of Filipino consumers. These solutions offer a streamlined process, competitive rates, and diverse payment options, providing customers with flexibility and convenience.

Achievements and Business Performance in 2023

In just under two years since its inception as a fintech startup, Skyro has achieved significant milestones and business performance in the fintech industry by the end of last year.

Skyro has recorded significant growth in both applications and usage as it gains traction among new markets and diverse user groups. Notably, in 2023 alone, Skyro achieved an average Compound Monthly Growth Rate of 50%, a testament to the rapid trust and adoption placed in the company’s innovative financial solutions.

Skyro's mobile app had an increase in its number of new and active users by 82.5%, leading to a proportional rise in total app downloads and usage. The brand has grown its network with over 500 partner merchants and a presence in over 2500 stores nationwide. It has also expanded its workforce from less than a hundred to more than a thousand employees.

Its product loan solution has shown exceptional growth in 2023, generating substantial results more than its initial value. Similarly, the cross-sell products have delivered remarkable outcomes in usage.

Outstanding Performance Under Expert Leadership

Skyro’s co-founders and co-CEOs Nasim Aliev and Arsen Liametov have been instrumental in the company's growth and success. 

With a strong experience in financial technology and business development, Aliev oversees key areas such as sales, partnerships, marketing, and customer acquisition, garnering trust from both customers and partners. On the other hand, Liametov is focused on optimizing Skyro's offerings, utilizing his extensive understanding of fintech products and operations. His main areas of expertise include ensuring smooth integration and efficient functioning of Skyro's digital services, all with the goal of meeting market demands while delivering maximum value to Filipino customers.

"At Skyro, our mission is to bring joy into every interaction our customers have with our financial products," shared Nasim Aliev. "We prioritize accessibility, simplicity, and flexibility, supported by an exceptional customer experience. By leveraging a compelling model, we've managed to reduce risk two-fold while achieving profitability, showcasing our strategic foresight and commitment to sustainable growth. We want to create a future where every Filipino has access to the right financial tools and knowledge for achieving success.”

Liametov added, "Our dedication to innovation and customer satisfaction remains unwavering. With a focus on continuous improvement and expansion, we're poised to reach new heights in 2024 and beyond. Skyro is committed to empowering individuals with the financial solutions that would cater to their ever-evolving needs and lifestyles."

Looking ahead to the rest of 2024, Liametov said, "As we anticipate the year ahead, we're filled with optimism, expecting even greater growth and impact for Skyro."

Skyro aims to continue its impressive trajectory into 2024, with expectations of tripling its growth and onboarding half a million customers by the year's end. This ambitious goal underscores Skyro's commitment to expanding its reach and impact in the digital financial landscape of the Philippines, further solidifying its position as a key player in the industry's evolution.

Skyro is a fintech company duly licensed and supervised by the Securities and Exchange Commission (SEC). To learn more about digital financial products from Skyro, visit its official website www.skyro.ph. Follow its official Facebook and Instagram accounts to know more about its latest promos and offerings.

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Globe Business shines spotlight on outstanding ‘Pinaypreneurs’

Globe Business shines spotlight on outstanding ‘Pinaypreneurs’

Friday, March 1, 2024

A year after receiving the Innovator Award from Globe Business at Cosmopolitan PH's Women of Influence 2023, dynamic Pinay entrepreneur Hiyasmin Neri-Soriano continues to stand out as a model of innovation and leadership, embodying the principles that earned her the prestigious recognition.

Over the past 12 months, Hiyasmin has showcased a blend of creativity and a profound grasp of technology as co-founder and CEO of Shoppertainment Live. This led to her recent appointment to the Board of Directors of The Philippine Marketing Association, where she focuses on public relations and communications, further highlighting her influence in the field.

Shoppertainment Live launched groundbreaking campaigns and engaged prominent entertainment and business personalities as anchors for its digital social commerce program. 

“The past year has been incredibly dynamic for me and Shoppertainment Live. We've initiated several distinctive live shopping campaigns across social media and marketplaces, with each session lasting from 3 to 4 hours which completes a full 24-hour stretch. We have also been exploring AI when it comes to content creation for video marketing,” Hiyasmin shared. 

A key aspect of Shoppertainment Live’s success story is its partnership with Globe Business. Serving as its internet partner, Globe Business has played a crucial role in enabling the company to do extensive and simultaneous livestream events for over 250 brands.

“Globe Business, as our reliable connectivity partner, has enabled us to conduct extensive and simultaneous livestream events for more than 250 brands. Leveraging this partnership, we have also effectively powered live commerce initiatives for Globe and have consistently achieved significant monthly sales volumes of sim cards through our live selling strategies,” said Hiyasmin.

KD Dizon, Vice President and Head of Globe Business, encapsulates the essence of this partnership, stating, "We stand united with every woman entrepreneur in overcoming challenges and unlocking their potential by providing innovative solutions, and access to resources necessary for their enduring success."

In the spirit of International Women's Month, Globe Business is set to once again honor two exceptional women business leaders and owners who have significantly contributed to the digital transformation of their enterprises, mirroring the impactful journey of Hiyasmin. The announcement of the winners will take place at the Cosmopolitan PH's Women of Influence Awards 2024.

As the event draws near, the story of Hiyasmin shines as a source of inspiration. Her achievements over the past year not only spotlight her innovative spirit but also stress the vital role of digital technology in propelling businesses forward.

Discover how Globe Business champions the digital transformation and empowerment of women entrepreneurs by visiting https://www.globe.com.ph/business.

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Fastest Growing in PH: Globally Accepted Maya Card Sets New Industry Record

Fastest Growing in PH: Globally Accepted Maya Card Sets New Industry Record

Monday, February 26, 2024

The Maya Card, powered by the #1 Digital Bank App Maya, is the Philippine's fastest-growing prepaid card due to its unmatched ease of use, convenience, safety, and worldwide acceptance. 

Visa, a world leader in digital payments, presented Maya with an award for being the top prepaid card issuer in the country, marking its third consecutive accolade from 2021 to 2023. 

This distinction is a testament to Maya's sustained year-on-year growth and its highest prepaid payment volumes.

"We've made it incredibly simple for millions of Filipinos to get a card. This ease of access particularly resonates with the youth, who not only use it for everyday purchases but also as a reliable companion for global travel. It's exciting to see the Maya Card become the fastest-growing card in the Philippines," said Shailesh Baidwan, Group President of Maya and Co-Founder of Maya Bank. 

The Ultimate in Convenience and Flexibility 

Getting a Maya Card is very easy, reflecting Maya's commitment to user convenience. Customers with an upgraded account can obtain a virtual and physical card through the app without the need for additional documents and link it seamlessly to their wallets. Users simply need to navigate to the “Cards” section within the Maya app to place their order. 

The virtual card instantly opens a world of online shopping and the physical card doubles as an ATM card, enabling effortless payments for daily needs. Its broad compatibility across both online shops and brick-and-mortar stores demonstrates its unmatched versatility. 

Designed with a minimalist and secure aesthetic, the Maya Card features the user's unique @username instead of the full name and card number, adding a personal touch without compromising security. 

Global Acceptance 

Once activated and linked to the user's wallet, the Maya Card is accepted worldwide, offering a seamless payment solution both in the Philippines and abroad. This global acceptance proves invaluable especially for freelancers and travelers, facilitating easy access to funds. 

The Maya Card unlocks global shopping at over 80 million merchants and ATM access, with instant international activation – no call to customer support is needed. Wherever they are in the world. users are kept informed and in charge with real-time transaction alerts directly through the Maya app. 

Rewarding Personalized Experience 

The Maya Card’s unique strength also lies in its rewarding digital banking services. Using it for everyday payments allows customers to earn up to 14% interest rate per annum, credited daily to their savings accounts. 

Moreover, frequent card usage also strengthens the user's financial footprint, leading to better opportunities for instant borrowing and higher credit limits within the app. 

Innovating further, Maya provides personalized card options offering co-branded editions, such as the FIFA Women's World Cup and Mobile Legends, alongside the all-in-one student ID of Ateneo De Manila University. 

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