Salmon Group Ltd, a Fintech group in Southeast Asia, has announced a strategic partnership with ECPay, a provider of electronic payment systems in the Philippines.
This collaboration aims to broaden financial accessibility for over 500 million underserved individuals in the region, particularly those without traditional banking accounts, according to the announcement.
The partnership leverages ECPay’s extensive network, which includes over 490,000 over-the-counter payment centers and more than 3,000 digital payment touchpoints located in convenience stores, pawnshops, remittance centers, and rural banks across the Philippines.
This network will now facilitate payments for Salmon’s financial products, offering unprecedented convenience and flexibility for customers managing their financial obligations.
Raffy Montemayor, Co-Founder of Salmon and Chairman of the Rural Bank of Sta. Rosa (Laguna), Inc., expressed enthusiasm about the partnership, highlighting its alignment with the company’s commitment to providing seamless financial solutions. He said:
In today’s fast-paced world, convenience is not just important, it’s essential. This collaboration allows us to extend our reach and accessibility, ensuring that our customers can easily manage their financial transactions wherever they are.
Salmon Group, supported by international and Filipino investors, including Abu Dhabi’s sovereign wealth fund (ADQ), focuses on expanding financial inclusion through innovative, AI and data-driven financial services.
Since its inception, the group has been at the forefront of empowering underserved communities in Southeast Asia.
Founded in July 2022 by Pavel Fedorov, George Chesakov, and Raffy Montemayor, it secured a $20-million debt facility from US-based emerging markets specialist investor Argentum Creek Partners last year.
ECPay, established over two decades ago, continues to be a pivotal player in the Philippines’ electronic payments industry, providing a one-stop-shop for both offline and online payment solutions, ensuring secure and timely transactions for customers and real-time reconciliation for merchants.
With its vast array of biller and portfolio partners, ECPay remains dedicated to enhancing the convenience of electronic payments throughout the country.
