EON partners with AiPayGo to Expand its Technology Stack
Union Bank of the Philippines, through EON, has entered into a partnership with Artificial Intelligence Payment Gateway Online (AiPayGo) to enhance EON’s award-winning banking technology by leveraging on AiPayGo’s global fintech expertise and mobile technology solutions.
“With so many banking apps out there, customers are looking beyond payments and yearn for one that would help them achieve their lifegoals and aspirations. EON is a one-stop shop for payments, so our customers need not spend too much time for this chore and can devote more towards their life aspirations. However, we won’t stop there, in the same way our customers never cease to creatively find ways to fulfill their dreams,” said Kimberly Espiritu, Assistant Vice President and Communities and Linkages Head of EON.
“Beyond payments, we work towards the financial well-being of our customers. If our customers need money to achieve their lifegoals, we are ready to lend and extend a lifeline. Harnessing AiPayGo’s technological capabilities and our lending expertise, we are confident to deliver on our promise,” said Paolo Baltao, Senior Vice President and EON Banking Group Head.
“One of our solutions, PhonePera, is designed to serve people at the bottom of the socio-economic ladder, primarily the unbanked Filipinos. After a careful analysis of the solutions available in the market in line with PhonePera’s objectives, I truly believe EON has the expertise and would be the ideal partner for AiPayGo in the Philippines” said Randy Prado, CEO of AiPayGo. “To commence our partnership, we will provide EON accounts in our projects with local government units for disbursements of cash assistance to citizens, as well as the digitization of transportation for a cashless commute.”
The alliance between AiPayGo and EON is not confined to technology sharing between the two organizations, but it gives AiPayGo the ability to roll-out various cashless payment technologies for various verticals like “TriC”, its ride hailing app for tricycles. TriC is now being tested in various LGUs as a result of DOTr’s cashless initiative for public transportation around the country. AiPayGo will also introduce PhonePera and EON to the real estate industry via an AiPayGo client, RealMark Property, who will now be providing a true end-to-end online buying and renting for all types of properties. Randy Prado went on to describe, “as an example of our relevance in the Fintech space, property companies will be well complimented by PhonePera’s ability to create a payment ecosystem for renters, landlords and mortgagees alike, where the renters can pay their rent via the PhonePera app and the landlord on the other end receives the rental payment via the same. It is our intention to expand the offering by productizing UnionBank’s suite of Personal and Property Loan products, so that people can have a truly digital experience in searching, requesting for a pre-loan approval, before making an offer online for their dream home all by using the PhonePera app to apply for a loan after finding the property they like on the RealMark Property website”.
Dennis Gross, AiPayGo’s New York based Chairman also added “once AiPayGo’s eWallet PhonePera becomes widely accepted in the Philippines, Filipinos residing and working in North America or in other countries where AiPayGo will have a presence for that matter, will be able to send and receive money, eWallet to eWallet as well as pay bills directly in the Philippines.”
Follow me on Twitter at @thefanboyseo for more tech news and updates!