UnionBank of the Philippines’ UBX, one of the leading Open Finance platforms in the Philippines, is powering the mobile app of Aboitiz Power Corporation (AboitizPower), one of the country’s largest retail electricity companies, integrating digital payments to provide customers of the latters’ distribution utilities greater convenience.
Under the agreement, AboitizPower will integrate BUx, an all-in-one payment solution platform developed by UBX, into its mobile application, MobileAP. The app is available for subscribers of AP distribution utilities such as Visayan Electric Company, Davao Light and Power Company, Cotabato Light and Power Company, and the Subic and Lima EnerZones.
Through this integration, customers will be able to pay their electricity bills online, providing greater convenience by removing the long process of heading to service centers to settle their monthly dues. Moreover, MobileAP empowers customers to remotely check their electricity bill for the past 12 months without going to outposts to check their status or waiting for the physical copy via mail.
“UBX and AP share a steadfast commitment to promoting inclusion by providing wider access to services – be it finance or power. Our partnership, which leverages UBX’s open finance technology, brings this goal forward and provides customers the value of greater convenience,” UBX Managing Director for Open Finance Jaime Garchitorena said.
As the country’s one of the leading all-in-one payment solutions, BUx unifies everything about payment collection channels into one platform: from card payments, online banking or bank transfers, and over-the-counter payments to e-wallets. With BUx, businesses can track all their transactions through real-time updates and notifications of credited funds through its best-in-class merchant dashboard.
“The future of our economy lies in digital payments. No less, the Bangko Sentral ng Pilipinas (BSP) made it a mission to have 70 percent of Filipino adults involved in the financial system by transforming 50 percent of the total volume of retail payments into digital. By collaborating with different industry players, we are helping the government achieve that goal,” Garchitorena added.
For download for both Apple and iOS devices, users can assess their power consumption and its monetary value through a chart tailored to their profile. They can download a PDF copy of their records with AP and manage multiple accounts in a single app.
MobileAP also features additional functions such as multiple DU registration, notifications and advisories, payment and consumption monitoring, payment center and service center look-up, and more to come, such as outage reporting.
“Thanks to UBX, we can bolster MobileAP by making it a one-stop app where our subscribers can do everything from getting updates about our services to checking their billing information to bill payment. Aside from improving their convenience, we honor our customers’ trust by providing them with transparency that only BUx, as a payments solution, can provide,” said Arnold Villanueva, AP Distribution Utilities Assistant Vice President, and Bills-to-Cash Head.