SwiftPass expands a strategic partnership with BDO Unibank, the Philippines’ largest banks in mobile payment. The first step comes in SM Supermalls. As the the biggest shopping centers in Philippines, even in southeast Asia, SM Supermalls begin to accept WeChat Pay with the support form BDO and SwiftPass. The launched of Wechat Pay will help Supermalls to sell their goods and services to Chinese tourists.
Meanwhile, SwiftPass partners with Asia United Bank (AUB) to be the first bank in Philippines that launched both Wechat Pay and Alipay. And the company serves more than 200 banks and non-banking financial institutions around the world, including the Southeast Asia countries like Philippines, Cambodia, Vietnam, Indonesia, Malaysia, Thailand, Singapore. The service covers back-end management portal for bank and merchants, front-end solution with QR-code capabilities, mobile marketing solutions, e-wallet, value-added services like e-card and e-invoice capabilities, and business solutions for catering, transportation, cross-border remittance etc.
Southeast Asia is one of the world’s fastest-growing markets. The ten member countries of the Association of Southeast Asian Nations (ASEAN) have a combined GDP of $2.76 trillion. The population of more than 630 million accounts for 8.6 percent of the world’s total population. 70 percent of them are young people who are more likely to accept the new technologies like mobile payments. Southeast Asia is going to be the next battle ground of mobile payment.
Currently, SwiftPass has entered more 20 countries around the world and in deep cooperation with banks. By providing an advanced mobile payment solutions, SwiftPass hopes to work with more banks to create a cashless society for the local market.