UnionDigital Bank, the digital bank of UnionBank of the Philippines, unveiled Ubeh Pay at Cashless Expo PH 2023 in Manila, showcasing bill payments, QR-based payments, tapping-enabled contactless payments, and a combo card merging a virtual debit card and credit line. Ubeh Pay is a payment platform set to launch for users in 2024.
“Ubeh Pay is the standout feature in our app, showing off our dedication to making everyone part of the financial game through easy, convenient, and secure cashless transactions,” Henry Aguda, CEO and president of UnionDigital Bank, said.
Cashless Expo PH 2023, spearheaded by the Bangko Sentral ng Pilipinas (BSP) and the Department of Trade and Industry (DTI), champions cashless transactions. The BSP views digital financial inclusion as a vital priority, aiming to make financial services more accessible.
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“The process and the channels by which consumers are able to process payments must be the least of their worries,” said Pats de Villa, chief product development officer of UnionDigital.
Seamless touchpoint
De Villa noted that in curating solutions for Ubeh Pay on the app, UnionDigital took into consideration the unique needs of each segment.
“In the end, we are prioritizing simplicity and a seamless touchpoint for various types of payment transactions that Filipinos would need in order to fulfill their everyday needs,” De Villa said.
Cashless Expo PH 2023 promoted locally made products with affordable pricing, leveraging e-wallets, cards, and online bank transfers for contactless transactions.
UnionDigital drives cashless platforms locally and globally, aiming to boost financial inclusion. As a BSP-licensed digital bank, it broadens Filipinos’ payment options via Ubeh Pay, bolstering their credit profile for future financial opportunities.
Targeting Overseas Filipino Workers (OFWs), UnionDigital collaborates with OFW associations, devising solutions to alleviate remittance costs, which can be as high as 16 percent.
Aguda stressed the importance of balancing cashless and cash transactions. UnionDigital aims to launch Ubeh Pay in 2024, starting with essential features, catering to Filipinos’ financial aspirations, marking a milestone at Cashless Expo PH 2023.