RePay Digital Solutions Formalizes Collaboration With UnionBank

RePay Digital Solutions Formalizes Collaboration With UnionBank

by June 9, 2023

RePay Digital Solutions formalized its new partnership with UnionBank Philippines to provide financial services for Filipinos in the local and international market.

RePay is a digital wealth-building tool that is aimed first and foremost for Filipinos. Its mission is based primarily around helping the Philippines transition from a mostly cash-based economy to a cashless economy, helping the unbanked sectors manage and increase their financial capabilities in the process.

One of its distinct designs will also make real estate transactions and payments easier even when abroad with the support of its sister Property Tech Company, Realholmes Property. RePay’s application includes various services for remittance, investments and documentation, providing it all in an easy-to-handle interface that can be accessed anywhere and anytime.

UnionBank Philippines is considered to be the ninth-largest bank in the Philippines while also being a universal bank. It has been around since 1968 and currently maintains 200 branches while serving over 5 million customers. Last December of 2022, it was awarded two awards at The Asian Banker Excellence in Retail and Financial Services and Technology Innovation Awards. It received awards for Best Digital Banking Services in the Philippines and Best Retail Bank in the Philippines, making it the third consecutive year it won the latter award.

Mark Dela Cruz

Mark Dela Cruz

RePay’s CEO Mark Dela Cruz had this to say about the new partnership.

“Since its conception, RePay has been about finding superior ways to service the financial aspects that Filipinos have to address every day. We want to give them an experience that feels complete and thorough from end-to-end. Whether they are aiming to pay bills, retrieve receipts for their business transactions or make investments in blockchain and other new emerging market opportunities, RePay will always have every Filipino’s back no matter where they happen to be in the world.”

Asked for furthercomment about their market, Mark clarified their scope.

“It is our goal to become a universal e-wallet by launching RePay within countries that are known for having a huge segment of working OFWs and Filipino immigrants. So countries like Singapore, the United States, Canada, the United Arab Emirates and Saudi Arabia are certainly going to play a big part in our ecosystem.”

Mark also asserted that these goals would only be strengthened with UnionBank’s involvement.

“RePay is admittedly still a brand new contender in the financial technology sector. That’s why we’re so excited to be partnering with a veteran firm like Unionbank, one of the largest banks in the Philippines. We believe their capabilities as a universal bank will only strengthen our facilities while also giving credence to our ongoing and upcoming initiatives in the banking and digital space.”