AUB partners with fintech TOP.ph to enable MSMEs to accept digital payments

The Orange Company, Inc. (TOC), a Filipino financial technology (fintech) company, recently partnered with Asia United Bank (AUB) to promote digital payment acceptance among micro, small, and medium enterprises (MSMEs).

“This historic move is poised to redefine the landscape of digital finance” as merchants using TOP.ph mobile applicationwill be able to accept various digital payments such as Visa or Mastercard credit, debit, and prepaid cards; QR Ph; WeChat Pay; and Alipay, among others, catering to diverse customer payment preferences, said Jet Paiso, AUB vice president and Merchant Acquiring Business head.

"TOP.ph is your all-in-one app that caters to your daily financial needs. Through AUB, TOP.ph merchants can accept digital payments from their customers and utilize TOP.ph as their preferred financial app for a swift and seamless payment experience,” said Ken Albert Teng, CEO of TOC. “Being able to accept digital payments will ensure digital wallet users effortlessly embrace and utilize the TOP.ph app.”

The partnership also aligns with the Bangko Sentral ng Pilipinas’ (BSP) goal to convert at least 50% of the country's cash retail transaction volume into digital payments.

“AUB, one of the fastest growing publicly listed universal banks in the country, is known for being tech savvy and for its best-in-class financial products and services. We are always on the lookout for innovations, not just in technology, but in partnerships like this. This is in our DNA. Partnering with TOP.ph will allow us to reach more merchants in geographic areas where AUB has a limited branch presence. It will also open avenues to create new client relationships for AUB," said Mr. Paiso.

Mr. Teng added: “This collaboration also signals the beginning of innovative payment solutions and a seamless financial journey for TOP.ph merchants. Our AUB partnership cleared the path for TOP.ph to enable us to provide our clients with superior, hassle-free payment solutions, creating an inclusive ecosystem for industry partners, MSMEs, and the unbanked. Expect enhanced accessibility, a safer digital account, a broader service range, and a user-friendly experience.”

“In addition to dedicated merchant support, TOP.ph offers transparency in fee structure, enabling merchants to understand the transaction cost and associate fees upfront. TOP.Ph provides educational resources and training materials to help merchants make the most out of the app's features and functionalities, which help them scale up their business," said Joseph Tanpoco, chief technology and operations officer of TOC.

Wilfredo Rodriguez Jr., AUB executive vice president for Operations and Technology, said: “We are happy to enable TOP.ph app merchants to accept digital payments from their Filipino and foreign customers.”The partnership is a testament to TOC and AUB’s shared vision of driving the future of digital finance, offering a wide array of services that cater to consumers’ evolving needs in the ever-changing financial landscape.

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In photo (L-R): Joseph Tanpoco, Chief Technology and Operations Officer, and Ken Albert Teng, CEO, The Orange Company, Inc. (TOC); and Jet Paiso, Vice President and Merchant Acquiring Business Head, and Novie Ong, Branch Manager-West Triangle Branch, Asia United Bank (AUB).