Salmon Group and AllBank Unite to Broaden QR Payments Reach in the Philippines

Salmon Group and AllBank Unite to Broaden QR Payments Reach in the Philippines

by April 3, 2024

The Salmon Group has partnered with AllBank (A Thrift Bank), Inc. to introduce a QR Ph-enabled payment system aimed at simplifying repayments for financial products, signalling a noteworthy shift in transaction methods.

Leveraging Salmon Group’s expertise in fintech and consumer lending alongside AllBank’s experienced presence in the banking sector, this partnership delivers a QR Ph payment solution that is said to be designed for ease and security, with the potential of benefiting millions across the Philippines.

The initiative broadens the application of AllBank’s QR Ph-P2M system, enabling transactions through the simple act of scanning QR Ph codes with smartphones. This method removes the traditional requirement for manual detail entry, offering a more efficient and streamlined alternative for consumers.

This new service simplifies Salmon loan repayments. The necessity to navigate through multiple screens and applications for a single transaction is eliminated. Simply opening the Salmon app, selecting QR Ph as the payment method, generating a unique QR Ph code, and saving it to the device photo gallery suffices. This QR Ph code can then be uploaded to the e-wallet or bank application of choice for repayment.

Raffy Montemayor

Raffy Montemayor

Raffy Montemayor, Co-Founder of the Salmon Group and Chairman of the Rural Bank of Sta. Rosa (Laguna), commented on the partnership:

“We are excited to partner with AllBank to introduce this innovative QR payment solution to Filipino consumers. This makes Salmon loan repayments much easier with the use of QR Ph codes. There is no more need to go back and forth between apps to make a payment. It’s now easy and hassle-free.”

This partnership is indicative of a mutual commitment to advancing financial inclusion and innovation in the Philippines, combining Salmon technological capabilities with AllBank banking infrastructure. The QR payment solution itself is designed to cater to the current expectations of Filipino consumers in a digital age.

The emphasis on transaction security and convenience remains paramount, according to the two entities, with both organisations committed to providing a reliable and effective method for customers to make payments at participating merchants.



Featured image credit: Edited from Freepik