Questions around this news
How does BigPay’s payments platform work with the AirAsia MOVE app?
The release says users can embed their accounts in the AirAsia MOVE app and use them to pay for travel within the AirAsia ecosystem. BigPay’s CEO said the company planned to add further payment features, but the release does not give details about what those features would be or when they would become available.
What is embedded finance?
Embedded finance refers to financial services—such as payments, lending or insurance—offered within a non-financial company’s app, website or customer experience. It lets people access a financial service in the context where they need it, rather than having to use a separate financial institution’s channel.
What does financial inclusion mean?
Financial inclusion means that people and businesses can access and use useful, affordable financial services that meet their needs. These may include payments, savings, credit and insurance. Access alone is not always enough: services should also be practical to use and appropriate to people’s circumstances.
Ecosystem Initiative of the Year for Malaysia Financial Inclusion Initiative of the Year for Malaysia
KUALA LUMPUR/SINGAPORE, July 9, 2024 -- BigPay, a leading financial technology company in Southeast Asia has been recognised with two major awards at the prestigious Asian Banking and Finance Retail Banking Awards 2024.
Photo Caption: (Centre to Left) Zubin Rada Krishnan, Chief Executive Officer of BigPay, Chris Manguera, Chief Growth and Commercial Officer of BigPay and Julian Ee, Product Owner, Ecosystem and Embedded Finance, BigPay receiving the awards at Asian Banking and Finance Retail Banking Awards 2024 ceremony in Singapore.
BigPay has been honoured with the Ecosystem Initiative of the Year for Malaysia and the Financial Inclusion Initiative of the Year for Malaysia for its embedded payments platform on AirAsia MOVE app that is transforming payments in the AirAsia travel ecosystem, and its holistic approach to financial management, empowering customers to improve their financial wellbeing.
Asian Banking & Finance Retails Banking Awards recognises the leading and most innovative banks in Asia who have introduced cutting-edge products, services, and solutions that made a positive impact on its customers. Since 2006, the awards programme has awarded outstanding banks and fintech companies who have been proven to be industry game changers in this competitive landscape.
Zubin Rada Krishnan, CEO of BigPay said, “We are happy that our continuous efforts to innovate in our product offerings are being recognised by industry counterparts. Our collaboration with the innovative online travel agent, AirAsia MOVE, brings the power of embedded finance directly into the AirAsia ecosystem. In its first iteration, we have enabled users to seamlessly embed their accounts into AirAsia MOVE app and pay for their travel, and we will soon augment payments with additional novel features.
“Our financial well-being features such as Stashes, Round-ups, and Analytics are making a significant impact on many by providing means for them to take control over, and stay disciplined with their spending. Our customers have Stashed more than RM150M since the feature's launch, using it to achieve goals like saving for a concert ticket, a dream holiday, or for the everyday bills that arrive at the end of the month. We continue to innovate with features around Stashes and Round-ups, trying to help people develop a habit for putting money aside for the future. Our team is committed to developing cutting-edge financial solutions to level up the lives of our customers, one transaction at a time. ”
About BigPay
BigPay is an ASEAN fintech company with proud Malaysian roots founded in 2017. The company is committed to democratising financial literacy, accessibility, and wellbeing in the region by providing accessible, transparent, simple and secure digital financial services. From payments to international transfers, credit, micro-insurance, personal loans, and smart budgeting, the goal is to level up the lives of customers across Southeast Asia, one transaction at a time.
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). We will respond and rectify the situation in the next 8 hours.
At a glance
- Company
- BigPay
- Announcement
- Award
- Location
- Kuala Lumpur/Singapore
Key figures
- Customer funds placed in Stashes since launch
- more than RM150M
People
- Zubin Rada KrishnanChief Executive Officer of BigPay
- Chris MangueraChief Growth and Commercial Officer of BigPay
- Julian EeProduct Owner, Ecosystem and Embedded Finance, BigPay
