BigPay will roll out its mobile money app and prepaid Visa card to users in Singapore in the next few weeks.
The fintech said Singapore users will soon be able to open an account from an app, which will enable payments and remittance features. Users will also be able to make free and instant money transfers to friends, split bills, manage work expenses and track their spending from the app, and made remittances to 10 countries, with more to be added.
The app already has a waiting list of over 20,000 people, BigPay said. The company plans to launch new business lines such as loans, insurance and wealth management in the coming months, and expand to other Southeast Asian markets early in 2021, the announcement said.
«People are turning to digital financial services and the pandemic has accelerated the need for fair and transparent alternatives to traditional banking – which is exactly what BigPay stands for,» Christopher Davison, BigPay co-founder and CEO, said in the statement.
Flying High
In an interview with the «BBC» in July, AirAsia boss Tony Fernandes said the company has been working on an all-in-one app, which will include payments, entertainment, shopping and food delivery, to bring in new revenue streams amid the pandemic and lull in travel.
BigPay was launched in 2018 by AirAsia as an e-wallet, hoping to leverage the low-cost carrier's dominance in regional air travel in Southeast Asia. It has since grown to over 1 million users in Malaysia and become one of the largest e-money issuers in the country by gross transaction value.
