UBX powers up MaxiLife with digital payments collection

UBX, the leading open finance platform in the Philippines, and MaxiLife, the Philippines' newest Life and Health Insurance Company, have entered into a strategic partnership to develop cutting-edge, technology-driven products and services that will revolutionize the experience of MaxiLife customers.

Under the partnership, MaxiLife will leverage UBX’s verticals BUx, an end-to-end payment solutions platform, and Splix, a transact-now-pay-later platform, to offer its policyholders flexible and convenient ways to settle their premiums. 

With over 60,000 payment channels powered by UBX nationwide, MaxiLife customers now have various options to pay for their policies: Over-the-counter, online banking, e-wallets, and debit/credit cards. Thanks to the partnership, policyholders can also pay their premiums on an installment basis soon –  with or without credit cards.

Pouch partners with Strike to bring instant US remittance payments to Philippines

Pouch, the first lightning service provider in the Philippines, has partnered with Strike, the world’s leading digital payments platform built on Bitcoin’s Lightning Network, to facilitate fast, secure, and low-cost remittance payments from the U.S. to the Philippines.

Pouch has partnered with Strike to make digital payments faster, cheaper, and more accessible for people globally. Customers, including Filipino expats in the U.S., can now send U.S. dollars to the Philippines and have the funds received as Philippine pesos in a recipient's bank or mobile money account.

BENCH Techs-up with UnionBank: Digital payments enhanced in 800+ stores across the nation

Union Bank of the Philippines (UnionBank) has partnered with Suyen Corporation (BENCH Group) to help the leading clothing and lifestyle brand digitize payments in its more than 800 brick-and-mortar and affiliate stores all over the country, for easier and more convenient transactions for its customers. 

The contract signing ceremony between UnionBank and BENCH took place last November 14 at the UnionBank Plaza in Pasig City.

To help BENCH digitize its transactions, UnionBank will be generating in-store QRPH codes that will serve as additional payment channels for shoppers. This will allow them to quickly pay for their purchases without worrying about loose change. They also won't need to use their on-hand cash or fall in line to withdraw cash at ATMs, saving them time. 

Because the partnership leverages QRPH's wide range of accepted payment providers through partner banks and popular digital wallets, shoppers can pay for their purchases digitally without worrying about using services or apps they are not familiar with, and simply opt for those that they are already using.

BUx: Businesses stand to benefit from adoption of digital payments

Businesses – especially the micro, small and medium enterprises (MSMEs) – stand to benefit from the adoption of digital payments, as technology enables them to streamline their financial transactions while providing them with greater security and convenience. 

Southeast Asia has seen a boom in cashless transactions within the last two years, as the pandemic forced almost everyone into the digital trend. The Philippines is no exception. More and more Filipino adults, according to the Bangko Sentral ng Pilipinas (BSP), now have access to transaction accounts, pushing digital payment transactions to 26.8 percent in terms of value and 20.1 percent in terms of volume.