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AirAsia extends financial services via airasia money
By Ayisy Yusof - April 23, 2021 @ 12:00pm



AirAsia Group Bhd has partnered RinggitPlus to expand its financial services via airasia money, tapping on its existing 65 million customers to drive financial inclusion in Asean.

KUALA LUMPUR: AirAsia Group Bhd has partnered RinggitPlus to expand its financial services via airasia money, tapping on its existing 65 million customers to drive financial inclusion in Asean.

AirAsia group chief executive officer Tan Sri Tony Fernandes said the low-cost carrier continues disrupting the industry and partnering with RinggitPlus to kickstart the financial marketplace.

"This allows us to offer greater and more affordable access to financial products and services. The financial marketplace will be integrated under AirAsia super app.

"airasia money will be the one-stop financial center for all our customer's needs, starting with Malaysia and followed by other Asean countries, including Indonesia by the second quarter of 2021, the Philippines (third quarter) and Thailand (fourth quarter)," he said at a press conference after launching airasia money here today.

Fernandes said airasia money serves as an aggregator, bringing the best-matched options for customer's needs while helping them finance or achieve them.

The platform will focus on the current needs with options for financial solutions, awareness, and education.

"Customers can access the platform for the best personal finance news, information, guidance and make the best choices for their immediate needs," he said.

airasia money currently offers credit card and personal loans in partnership with RinggitPlus.

It will also introduce comparisons of financial products and solutions like insurance, investments, financial awareness and education, payments, as well as Islamic financial products and services.

The marketplace is modular and scalable through tactical partnerships and collaboration with other financial technology (fintech) players.

airasia money head Mohamad Hafidz Mohd Fadzil said airasia money would be responsible for payments innovation and technology for AirAsia group, driving a seamless user experience and making online payments invisible.

"Financial marketplace is our new consumer fintech offering within our airasia super app that gives our banked and underbanked customers a comparison of bite-sized financial solutions.

"With strategic partners like RinggitPlus, we provide safe, customer-centric solutions tailored just for you," he said.

Mohamad Hafidz said airasia money is also expected to launch in Singapore in early next year.

"However, it is highly regulated and it is a very mature market. We will work with the emerging markets first," he said.

Comparison of other financial products and solutions will be introduced soon.

https://www.nst.com.my/business/2021...-airasia-money