BigPay, Air Asia Group’s fintech focused company, is now available in Singapore which is in line with the fintech’s expansion plan into other South East Asian markets by early 2021.
The fast-growing fintech is getting ready to make its mobile money app and prepaid Visa card available to all Singapore residents in the coming weeks. BigPay said that it received its licence from the Monetary Authority of Singapore to operate in Singapore early this year.
BigPay will make its two core features – payments and remittance – available in Singapore. Users will be able to open an account using their mobile phones and make payments at any local or international merchant. They will also be able to make free and instant money transfers to friends, split bills, manage work expenses and track their spending all in one integrated app.
In addition, Singapore users will be able to remit money quickly and at a competitive rate to 10 markets, namely: Malaysia, China, the Philippines, Indonesia, Thailand, Vietnam, India, Bangladesh, Nepal and Australia, with more to come.
“We quietly opened up our waiting list on the app earlier this year and already have 20,000 people ready to get early access. 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.”
said Christopher Davison, Co-Founder and CEO.
BigPay also plans to launch new business lines such as loans, insurance and wealth management in the coming months, as well as expand to other South East Asian markets in early 2021.