Greenergy Holdings Inc., the listed company led by businessman Antonio L. Tiu, on Thursday said Singapore-based Aleta Planet is eyeing a partnership with the company for the issuance of virtual cards as well as cross-border money remittance services.
Under the proposed collaboration, Aleta Planet, a member of UnionPay International, 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, in turn, shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates.
“Fintech is among Tiu’s overall goals for his business which aims to help Filipino consumers attain financial inclusion, especially the unbanked and underbanked, to have easier access to the financial system,” the company said. 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 businessman’s vision of creating a seamless e-commerce landscape using financial technology for Filipinos especially agriculture stakeholders.
Other services under the planned partnership will include payment acceptance, domestic and cross-border business-to-business money transfers, e-commerce and white-labeling for financial institutions and corporations and co-branding programs to co-brand partners in relation to the financial technology services it provides.
“In all, Tiu wants all his businesses to help address Filipinos’ need for agricultural products, fintech, clean energy, sustainable transit-oriented real estate development, green transportation and medical technology among others,” the company said.
Greenergy is transforming itself into a holding firm upon its consolidation of Tiu’s assets like digital banking and the AgriToken ecosystem. The said move is in preparation for the launch of its own virtual currency for its closed loop ecosystem.
Tiu earlier said he is converting Greenergy into his holding firm to own assets, such as food and agri, biotech, fintech projects, green infrastructure, and renewable energy.
Aleta Planet was founded in 2014 in Singapore by a team of professionals with business and technology expertise within the banking and finance industry. It is at the forefront of facilitating cross border payments to and from China.
It specializes in end-to-end technology solutions for financial institutions and corporates, providing payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore. Aleta Planet is also a direct acquirer and issuer of UnionPay International, offering cross-border, multi-currency transactions. It enables merchants to accept over 8.4 billion UnionPay cards issued globally. It also issues UnionPay commercial and retail cards.
