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GLN International & AUB to expand QR payment network to the Philippines

By Gloria Mathias

March 28, 2024

  • APAC news
  • Asia News
  • Asia United bank
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GLN, Remitly, Korea, Cross-Border, Instant Payments, Domestic Banks, Payments Solutions, APAC News, Korea FinTech, US Fintech, Daegu Bank, Korea, APAC, Banque Pour Le Commerce Exterieur Lao Public, BCEL, Loas, Fintech news, Korea News, JCB, Japan Fintech, Global Payments Network, Fonepay, Fintech News, AUB, Asia, united Bank, Philippines, QR Payments, Korea, GLN International has signed a Memorandum of Agreement (MOA) with Asia United Bank (AUB), a publicly listed bank in the Philippines, to launch the QRPh cross-border payment service.

Under the agreement, GLN and AUB will collaborate to provide QRPh cross-border payment service to visitors to the Philippines, including the 1.4 million Korean tourists who visit the country annually. Tourists to the Philippines will be able to pay seamlessly at QRPh merchants, a national QR payment network operated in the country, using the digital wallets in GLN’s network.

Starting in June, GLN customers travelling to the Philippines will be able to make digital QR payments in over 630,000 QRPh physical stores through Hana One Q, KB Star Banking, iMBank, Hana Money, Toss, and GLN apps, with reduced payment costs from real-time currency conversion and a transparent fee system.

GLN’s payment network includes seven countries and regions in Southeast Asia, Thailand, Taiwan, Singapore, Vietnam, Laos, Cambodia, and the Philippines.

Through close collaboration, efforts are being made to enhance the convenience of financial services between the two countries, benefit local merchants, and contribute to the cross-border financial industry.

Kim Kyung-ho, CEO of GLN International, stated, “We look forward to establishing a strategic partnership with AUB, enabling us to pursue innovative and future-oriented collaboration.” He added, “As a leading alternative payment network provider globally, GLN will continue to expand payment territory, and explore innovative business models with partners to provide more convenient global payment services to customers in the future.”

Wilfredo Rodriguez Jr., AUB’s executive vice president and Head of Operations and Technology Group said, “AUB made a deliberate strategy to use technology as an enabler as well as a differentiator for its various products and services. We know the digital age will come and the competition will no longer be about the size of your branch network but about the ability to scale up, agility, and relevance. For AUB, this is the level playing field.”

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