Abu Dhabi, UAETuesday 24 November 2020

Boxing legend Manny Pacquiao to launch FinTech platform

PacPay will offer fast and safe cross-border transactions to social media influencers, brands and the boxer’s fans

Manny Pacquiao plans to expand his payments platform across Asia, starting with the Philippines and Singapore. Pawan Singh / The National 
Manny Pacquiao plans to expand his payments platform across Asia, starting with the Philippines and Singapore. Pawan Singh / The National 

Filipino boxing legend Manny Pacquiao will launch his own payments platform for social media influencers, brands and fans later this year.

His Singapore-based company Pac Technologies will roll out PacPay to facilitate fast and safe cross-border transactions, as the uptick in digital payments accelerates amid the Covid-19 pandemic. The platform will first be launched in his home country, the Philippines, followed by Singapore.

Mr Pacquiao, who is also a senator in the Philippines, plans to eventually expand the platform across Asia.

This is not just about making a personal profit, but I would like to see it as a long-term investment for the betterment of my countrymen

Manny Pacquiao

“People are always curious to find out what I am getting into,” Mr Pacquiao told the BBC.

“And because of my latest involvement with this FinTech venture, a lot of my fellow athletes, global influencers and other entrepreneurs have expressed their interest and potential involvement in the platform.”

In September, Pac Technologies and Remsea, a FinTech remittance firm licensed by the Monetary Authority of Singapore, signed a strategic partnership to develop FinTech initiatives in Asia and beyond.

The FinTech firm will feature a rewards programme, allow users to connect with their favourite influencers and brands and participate in exclusive, private events.

“Through the card programme, my followers will be incentivised with exclusive rewards, including complimentary tickets, limited-edition autographed merchandise and attractive discounts by merchants around the world,” said Mr Pacquiao.

Pac Technologies is also looking at online payments services in the sectors of healthcare and employment.

“This is not just about making a personal profit, but I would like to see it as a long-term investment for the betterment of my countrymen,” Mr Pacquiao added.

Pac Technologies has been incorporated in Singapore since May 2020.

In September last year, Mr Pacquiao released a cryptocurrency called “Pac tokens”.

Updated: October 21, 2020 03:57 PM

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