Finance
BayaniPay: Borderless banking for Pinoy immigrants launched
Zero-fee remittances back home
Filipino-led fintech BayaniPay launched the first-ever Filipino-American virtual bank in a partnership with Southern California’s East West Bank.
The service will be quite similar to popular Philippine e-wallet apps like PayMaya and GCash, allowing Filipino immigrants to open an Easy Digital Checking Account.
They will also be able to order a co-branded Visa debit card and send faster, zero-fee remittances to the Philippines for their loved ones.
Borderless banking
The unveiling of BayaniPay seeks to address issues in financial service. It make it easier and more seamless for immigrants to do cross-border financial transactions.
It started in 2021 and provided zero-fee remittances from California to the Philippines, in partnership with BDO Unibank.
By integrating bank products into its platform, BayaniPay is expected to address the needs of about 4.2 million U.S.-based Filipinos.
Financial bridge to the PH
The updated suite of features will make it more seamless experience for both users and their beneficiaries back home.
With the launch of the BayaniPay neobank, recipients in the Philippines can now receive their BayaniPay remittances in 12 hours or less through most national banks, as well as many rural banks, pawnshops, or cash pick-up outlets.
Sending BayaniPay’s market-leading foreign exchange rates also entitles recipients to receive more money for every dollar.
Looking ahead, BayaniPay aims to streamline a variety of cross-border transactions for global professionals from different countries of origin.
BayaniPay is currently available in California, with availability in more states soon to follow.
Good news for users of Huawei devices: the BPI app is now available on Huawei AppGallery.
This will allow Huawei consumers to easily access BPI’s mobile banking services on their devices.
The move is part of Huawei’s efforts to expand its AppGallery, its official app platform.
Other banking and e-wallet apps downloadable via AppGallery include GCash, Maya, Unibank, Metrobank, BDO, and more.
According to Huawei, AppGallery has over 180 billion downloads and 390 million monthly active users worldwide.
Furthermore, the number of Huawei Mobile Services (HMS) monthly active users has exceeded 850 million as of 2022.
On the other hand, the number of monthly active users of HUAWEI ID, AppGallery, and Quick App has surpassed 420 million, 580 million, and 170 million, respectively.
BPI app
The BPI app was previously only accessible via the App Store or Google Play.
In March 2023, BPI also overhauled its official mobile banking app with a new interface and more services.
Among its handy features are Mobile Key, QR Ph support, and free transfers to e-wallets.
Apps
BPI app: 4 tips to master online banking
To ensure their customers’ money and information are safe
Bank of the Philippine Islands (BPI) clients have seen numerous versions of the BPI app throughout the years.
BPI says it’s to ensure their customers’ money and information are safe. To keep it the same way this 2024, here are four pro tips to master online banking.
Always keep your BPI app up-to-date
Make sure you’re running the BPI app’s most up-to-date version. The BPI app only runs on secure devices, including those on iOS 14 and Android 8 or higher. Moreover, the app is not compatible on jailbroken, modified, or rooted devices.
For Android users, you can set the “Developer Options” to off on the device’s general settings. These restrictions help safeguard the BPI app from those who might want to tamper with security measures in place.
Register the device with BPI-registered mobile SIM
When you download the BPI app and log in for the first time, you will be prompted to register your device. This is another security feature that BPI has recently implemented.
To do this, follow these simple steps:
- Make sure your SIM has enough load to send at least one (1) SMS
- Follow the step-by-step instructions on the app to register the device
- Data-only SIM cards are not capable of sending SMS, so you can’t use these for registration
- In case you want to use the BPI app on a device with a different number, you’ll need to change your registered mobile number first
- Your new number may only be activated at the nearest BPI branch ATM after logging in over at online.bpi.com.ph.
Activate Mobile Key
Having Mobile Key turned on lets you authorize transactions quickly and securely. Mobile Key acts like a virtual PIN, eliminating the need for an OTP.
The Mobile Key also works as a second layer of security so BPI knows it’s really you trying to access your account.
Furthermore, the BPI app will always ask for Mobile Key confirmation every time you update, switch devices, or browse online via a web browser.
Pay straight from the app
Lastly, the BPI app also supports a pay via QR feature, letting users scan any QR Ph code. There is no need to load up e-wallets or cash in. The quick-access QR icon is located at the top right of the screen.
To use this feature, tap the icon, scan the QR code, login to your account, and choose the account you’d like to pay from. You can try it out in thousands of stores nationwide that accept QR Ph. Best of all, there is no additional transaction fee.
Smart subscribers are set to enjoy up to a PhP 5,000 welcome gift as the network provider has partnered with UnionBank for exclusive credit card rewards.
Under the team-up, Smart prepaid subscribers will receive a PhP 2,000 welcome gift with their new UnionBank Rewards credit card.
Meanwhile, Smart postpaid and Infinity subscribers are entitled to a PhP 5,000 welcome gift with UnionBank Rewards, UnionBank Miles+, or UnionBank Reserve credit cards.
Redeem exclusive welcome gifts
To receive the welcome gift, prepaid users must simply link their UnionBank Rewards credit card to GigaPay on the Smart App, then purchase PowerAll 99.
Postpaid users, on the other hand, should enroll their postpaid accounts to the Auto Bills Payment on UnionBank’s website.
This applies to Smart Infinity members on Plan 3500 who plan to get the UnionBank Miles+ credit card and Smart Infinity members on Plan 5000 and Plan 8000 who intend to get the UnionBank Reserve credit card.
More rewards
In addition to the welcome gifts, UnionBank Miles+ credit card users may also get 30,000 of never-expiring miles while UnionBank Reserve clients may redeem up to PhP 18,000 worth of eGifts from Giftaway merchants with an accumulated spend of PhP 40,000 within 60 days of card approval.
The exclusive promo will run until February 29.
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