Greenergy Holdings Inc. is in discussions with Singapore-based Aleta Planet, a certified member of UnionPay International, for the issuance of virtual cards as well as establishment of cross-border money remittance services in the Philippines.
Under the proposed collaboration, Aleta Planet will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates.
“This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts,” Greenergy said.
The company in turn shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates.
The deal would pave the way for Greenergy’s development of a fintech arm by providing fully digital cross-border money remittance services, consistent with the vision of “creating a seamless e-commerce landscape using financial technology (fintech) for Filipinos especially agriculture stakeholders to capture global opportunities,” the company said.
Other services under the planned partnership will include payment acceptance, domestic and cross-border B2B money transfers, e-commerce and white-labelling for financial institutions and corporations and co-branding programs to co-brand partners in relation to the financial technology services it provides.