UnionDigital Bank has introduced their soon-to-be launched platform Ubeh Pay at the first Cashless Expo PH 2023.
To enable cashless payments across the country, this platform allows bill payment, QR-led payments, contactless payments made possible by tapping technology, and a combo card that combines the ease of a virtual debit card with the adaptability of a credit line.
Cashless Expo PH 2023 is an initiative by the Department of Trade and Industry (DTI) and the Bangko Sentral ng Pilipinas (BSP) to encourage cashless transactions across the nation.
UnionDigital is committed to driving the global and domestic advancement of cashless platforms, with the ultimate aim of improving financial inclusion. As a digital bank with a BSP license, it gives Filipinos more digital payment alternatives with Ubeh Pay and gives them access to a range of financial services through its mobile app.
As part of its target market, UnionDigital is seeking to increase the accessibility of banking for Overseas Filipino Workers (OFWs). With the primary objective of lowering the substantial costs associated with remittances—which can reach 16 percent—the digital bank is actively creating competitive alternatives in collaboration with OFW associations.
Henry Aguda, CEO and President of UnionDigital Bank, said, “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,” He added, “It’s the beginning of our efforts to ensure that every Filipino has access to straightforward digital banking. With a portfolio of exciting projects in development, we are dedicated to our mission to play a pivotal role in realizing comprehensive financial inclusion across the nation.”
Pats de Villa, Chief Product Development Officer of UnionDigital also stated, “The process and the channels by which consumers are able to transact payments must be the least of their worries. In curating solutions for Ubeh Pay on the app, we 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.”
Aguda added, “Encouraging cashless transactions plays a key role in making banking services more accessible and convenient for everyone, yet let’s not forget that cold hard cash is still a big player in many transactions. UnionDigital Bank, which was founded to uplift Filipinos through accessible banking, aims to strike a balance as it sets out to launch Ubeh Pay by 2024. Starting with fundamental features, we strategically curated solutions to meet Filipinos’ financial goals, marking a milestone at the Cashless Expo PH 2023.”
Users will be able to access Ubeh Pay in 2024.
For more information, visit UnionDigital Bank.