A DIRECT SELLING company has partnered with UnionBank of the Philippines, Inc.’s financial technology unit to develop a mobile app for online transactions.

The “super app” will allow Alliance in Motion (AIM) Global’s over three million distributors to make transactions, such as accepting payments, loans, remittances, and money transfers, AIM Global and subsidiary Orbix Victus International (OVI) said in a statement on Tuesday.

The app will be powered by UBX Philippines Corp.’s (UBX) banking-as-a-service vertical i2i, a blockchain-based platform, as well as its online lending marketplace SeekCap, it added.

The app is targeted to be launched within this quarter, UBX said.

“Our goal in developing this super app with AIM Global and OVI is to expand its suite of products from food supplements and herbal products to digital financial services. This not only empowers its distributors to expand their businesses but also enables their clients to conduct financial transactions without the need to go to a bank,” UBX Insurtech Business Head Marc Gorospe said.

Our partnership with AIM Global and OVI signals that more and more organizations beyond finance are interested and willing to support the goal of promoting financial and social inclusion. We are committed to working together with more partners to push this agenda further so that more Filipinos will be able to participate in and leverage the financial systems,” Mr. Gorospe added.

UBX said they are open to partnering with other organizations to develop tailor-fit digital financial solutions and help promote financial inclusion.

“Partnering with UBX assures us that we get nothing short of the best digital solutions to expand our suite of products. With its status as the country’s leader in open finance, we are excited to learn the tricks of the trade and expand our knowledge in helping more Filipinos nationwide,” AIM Global and OVI Chief Executive Officer Eduardo Cabantog added.

AIM Global is a food supplement and herbal product direct-selling company with more than three million distributors in the country alone, the press release said. It has five million distributors globally. — A.M.C. Sy

Source: bwworldonline ; orangemagazine