Financial firm AllBank and digital payment platform JustPayTo have announced a strategic partnership aimed at enhancing the digital payment ecosystem in the Philippines.
In a statement, the two firms said their partnership seeks to revolutionize the way customers engage in cashless transactions, especially in the Philippines where more than 60% of the adult population remains unbanked.
The memorandum of agreement was officially signed by AllBank President and Executive Director Jesus Vicente Garcia, and JustPayTo Chief Executive Officer Gemma Guerrero at the AllBank Head Office in Mandaluyong City.
This partnership marks a significant step in facilitating easier and more efficient digital transactions for consumers across the country, per the announcement.
Under this partnership, smartphone users will gain the ability to make payments to partners and merchants of JustPayTo using various banking and e-wallet apps. This initiative is part of a broader move to include more Filipinos in the burgeoning digital economy and to simplify the process of digital transactions.
“AllBank is committed to expanding our reach in the digital payment landscape, and this partnership with JustPayTo is a milestone in our journey. We are excited to offer a seamless cashless payment experience to our customers and believe that JustPayTo’s involvement will be instrumental in achieving this goal,” Garcia said.
Guerrero echoed these sentiments, expressing enthusiasm about the collaboration.
We are thrilled to join forces with AllBank. Our combined efforts will focus on promoting digitalization and responding to the rapidly growing digital landscape. We anticipate a successful partnership with AllBank, furthering our mission to revolutionize digital payments in the Philippines.
This strategic alliance is set to provide a significant boost to the digital economy, offering customers a more streamlined and accessible way to engage in digital transactions, and is seen as a major step towards the future of cashless payments in the Philippines.