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Philippines-based Asia United Bank (AUB) has tapped issuer-processor Paymentology to power its digital payments platform.
Paymentology's cloud-native tech will be integrated into AUB's payments ecosystem, supporting the bank's mobile banking services, QR Ph capabilities, digital transfer networks, and flagship e-wallet, HelloMoney, which enables customers to pay using QR codes across 60 countries, including Japan, South Korea, Malaysia, Hong Kong SAR, and Singapore.
The vendor will also work with AUB to help the bank launch new products as the number of households in the Philippines completing digital financial transactions rises from 53% to 62% year on year.
The partnership sees AUB join Paymentology's growing global banking partner portfolio, which also includes Greece's Snappi and South Africa's Bank Zero.
The announcement was made at The Issuer Academy Thailand Masterclass in Bangkok.
This digital drive from AUB follows a strong year in which the bank's total assets grew by 5.6% year on year, and net interest income grew by 14.9% year on year to PHP 10.11 billion (around $164 million).
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About the Author
Reporter, FinTech Futures
Francis Bignell is a reporter at FinTech Futures with a keen interest in all things fintech, especially in the Latin America region. Writing in the industry for four years, he has moderated webinars and podcasts as well as interviewed executives from a wide range of sectors.