Malaysian airlines company AirAsia’s fintech venture BigPay is set to expand its e-wallet services in Singapore.

As part of the expansion plan, the fintech firm will launch its mobile money app and Visa debit card for its users in Singapore.

The company said that its users will soon be able to open an account from the mobile money app and get access to payments and remittance services.

The app will allow users to make free and instant money transfers to friends, split bills, manage work expenses, and track their spending.

They will be able to send money overseas to 10 countries, with more countries yet to be added later.

BigPay is also planning to offer loans, insurance, and wealth management services in the coming months.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company also intends to expand to other Southeast Asian markets early next year.

BigPay said that the new app already has a waiting list of more than 20,000 people.

In a statement, BigPay co-founder and CEO Christopher Davison said: “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.”

Launched in 2018, BigPay has added more than one million users in Malaysia so far.

It is one of the largest e-money issuers in the country in transaction value, the company said.

Earlier this year, BigPay secured a licence to operate in Singapore, from the country’s central bank the Monetary Authority of Singapore (MAS).

In June this year, the MAS shortlisted 14 applications out of the 21 submitted to issue up to five digital banking licences.