Philippines, January 12, 2022 – Asia United Bank (AUB), one of the country’s fastest-growing publicly listed universal banks, has partnered with Wallyt, a leading global digital banking solution to launch a card payment acceptance solution for merchants via a card QR code or link.
Wallyt is a Hong Kong-based fintech that provides digital payment and open banking solutions and now serves more than 150 banks and financial institutions in ov
Through the strategic partnership, AUB PayMate merchants can accept Mastercard payments without incurring additional cost for the payment terminal just by enabling them with a secure card QR code or link.
“AUB PayMate merchants have been trained to accept QR payments since we started in 2017 as an e-wallet/QR payments acquirer. We want them to have the same digital payment acceptance journey by providing them with a card QR code to accept Mastercard payments,” said Mags Surtida, AUB First Vice President and Cards & Acquiring Business Group Head.
With the new payment option for AUB PayMate merchants, customers only need to use a smartphone camera to scan the card QR code displayed at the AUB PayMate merchants’ stores. The customer will be directed to a secure AUB PayMate checkout page, encode card details and the one-time password (OTP) from the card issuer, to complete the transaction. Merchants can also check the payment status real-time using the AUB PayMate app or portal.
Serving millions of merchants and customers around the country, AUB is a recognized innovation leader in the Philippine banking sector. Since its AUB PayMate merchant QR acceptance platform launch in 2017 via WeChat Pay, AUB has been working closely with Wallyt to continuously innovate on its digital payment acceptance platform. To date, AUB PayMate has the following payment acceptance types in its platform: Alipay, UnionPay QR, Thai QR, SG PayNow, GCash, GrabPay, InstaPay, Home Credit, Shopee Pay, QRPH and Mastercard.
The digital payment service is part of AUB’s efforts to help more merchants, especially micro, small and medium enterprises (MSMEs), to digitize via new innovations such as Mastercard payment acceptance and upcoming integration of more local and international digital payment methods.
"Our partnership with AUB all these years marks an important milestone and long-term cooperation as we have launched numerous digital payment services in the Philippines. As digital banking continues to drive innovation, Wallyt is committed to working with our banking clients by providing a best-in-class digital payment experience,” said Tong Liu, Wallyt CEO.
Together with Wallyt and driven by AUB’s passion and strategy for banking innovation, we will be able to drive more relevant digital experiences to our bank customers,” added Ms. Surtida.
Re-disseminated by The Asian Banker