AirAsia Launches Airasia Money and Partners with RinggitPlus to Provide In-App Loan Application Services


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KUALA LUMPUR (April 23): AirAsia Bhd has extended its super app airasia to provide financial products and services under the “airasia money” banner, starting with a partnership with the financial comparison platform RinggitPlus.

Through its partnership with the platform, airasia money currently provides credit card application and loan application services. The financial market will also allow users to get the best personal finance news, information and advice and make the best choices for their immediate needs.

Today’s launch of airasia money, said Tan Sri Tony Fernandes, CEO of AirAsia Group Bhd, marks the final piece of the airasia super app puzzle, a concept that has been aggressively pushed since October 2020.

“Airasia money is the third vertical after travel and e-commerce. He is [the] last piece of our app, and with that, our digital app plan is pretty much done and is expected to grow stronger going forward, ”Fernandes said at the launch today.

Targeting millennials, the platform will soon also include a range of other financial products for insurance, investments, top-ups, game credits, as well as other services including remittances and payments. of zakat, said Mohamad Hafidz Mohd Fadzil, manager of airasia money.

“Elsewhere, the expertise provided by other platforms has been very specific to the product, ie [it] loans, insurance and more, as opposed to a channel that offers simplicity and bundles.

“There has to be something for everyone with airasia money,” Mohamad Hafidz said. “The aim is to provide small-scale financial solutions that are organized through fintech assets as well as external strategic partners like RinggitPlus,” he said.

“As AirAsia democratizes the airline industry, we at RinggitPlus have talked about democratizing the financial industry, to offer banking and insurance products that anyone can apply,” said the co-founder and CEO from RinggitPlus, Siew Yuen Tuck.

“The opportunity to bring the two brands together with a common vision to help Malaysians make better financial decisions and access financial products more easily is truly a dream come true, and we thank the AirAsia team for made this possible, ”Siew said.

After today’s launch in Malaysia, airasia money is also expected to launch in Singapore in 2Q21, the Philippines in 3Q21 and Thailand in 4Q21 with localized offerings that meet the different needs of different markets, said Mohd Hafidz. AirAsia’s other financial services include the electronic wallet platform BigPay and Tune Insurance under sister company Tune Protect Group Bhd.

As of this writing, AirAsia was down two sen or 2.2% to 89 sen, valuing the group at RM 3.39 billion.

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