BPI, Alipay+ partner for cross-border mobile payments

MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) has partnered with Alibaba founder Jack Ma for global cross-border mobile payments amid the ongoing COVID-19 pandemic.

BPI chief digital officer Noel Santiago said the 170-year old bank recently sealed a pioneering partnership with Alipay+ to enable digital banking customers to shop global.

“The pandemic has rapidly accelerated the shift of payment behavior and preference of Filipinos from cash to digital. We aim to better serve and engage the now digitally savvy customers, by continuously innovating and expanding our digital ecosystem of partners and merchants, for an enhanced digital experience that goes beyond banking,” Santiago said.

With the partnership, BPI is now available as a payment option at regional and global online merchants supported by Alipay+.

With the listed bank’s push to adopt new technologies amid the global health crisis, about 91 percent of its transactions are now digital, up from pre-pandemic level of 85 percent.

BPI also reported a 20 percent jump in its digital customer base to 4.9 million in 2021.

“With the use of BPI Online credentials, the partnership with Alipay+ will bring a convenient and seamless payment experience to BPI customers and connect them to regional and global brands,” Santiago said.

Since its launch in 2020, Alipay+ has seen strong adoptions among regional and global online merchants across e-commerce, digital entertainment and O2O, including leading brands such as Agoda, Apple, Foodpanda, Google, and SHEIN.

More than one million offline merchants in major European and Asian markets have also partnered with Alipay+.

Alipay+ Global Payment Partnership general manager Cheng Guoming said the company works closely with digital payment providers such as BPI to alleviate cross-border payment pain points for users

“The future of payments is mobile. Alipay+. BPI is one of the largest and most trusted banks in the Philippines with a loyal customer base. We are excited to partner with BPI to make regional and global brands more accessible to local consumers and to enhance their lifestyle,” Cheng said.

Alipay+, introduced by Ma’s Ant Group, provides global cross-border mobile payments and marketing solutions that enable merchants, especially small and medium-sized businesses, to better serve consumers around the world by collaborating with global partners.