Asia United Bank Expands HelloMoney E-Wallet To More Markets

Published 6 months ago

Asia United Bank (AUB) is making strides in expanding the reach of its e-wallet, HelloMoney. The first Philippine bank to offer an e-wallet for cross-border payments, AUB is working to make HelloMoney available in a larger number of markets overseas.

Alipay+ Partnership Expands HelloMoney’s Reach

Through a partnership with Alipay+, a mobile payments and marketing platform by Ant International, HelloMoney users can now make e-wallet payments in South Korea, Malaysia, and Hong Kong SAR. The process is as simple as scanning the QR code displayed in merchant stores in these countries. The addition of these markets means that HelloMoney can now be used for cross-border payments in four markets, the fourth being Japan.

Local Payment Services Enhance HelloMoney’s Usability

In South Korea, HelloMoney users can now scan the ZeroPay QR, a public digital payment service available in over 1.7 million merchants nationwide. South Korea has been working to make its digital payment services more accessible for tourists by connecting local merchants with various mobile payment methods.

In Malaysia, users of HelloMoney can scan the DuitNow QR, a National QR Standard operated by PayNet, available in 1.8 million merchants across the country. This enables real-time payments from customers using various banks and e-wallets.

AUB Continues to Improve Mobile Banking with HelloMoney

AUB’s HelloMoney was launched in 2019, ahead of the COVID-19 pandemic. It provides a range of services, such as bank-to-bank fund transfers, buying prepaid load, remittances through PeraPadala, payments via QR code, bill settling, ATM withdrawals, and online shopping with HelloMoney’s virtual Mastercard. Members of the state-owned Pag-IBIG Fund can also manage their accounts and perform banking transactions through the Pag-IBIG Loyalty Card Plus via HelloMoney.

According to Wilfredo Rodriguez Jr., AUB executive vice president and head of Operations & Information Technology, the bank’s goal is to “bring HelloMoney closer to more users to make mobile banking easier and for more merchants to help their business grow and thrive in the post-pandemic world.”

HelloMoney Sees Significant Growth

As of end-October 2023, HelloMoney transactions had reached 30 million, a 65% increase compared with 19 million in the same period a year ago. The value of transactions reached P115 billion, 82% higher than the P63 billion recorded in the previous year.