(reportr.world) Senator and boxing icon Manny Pacquiao said he would launch an eponymous digital payment platform that will work around the world and with ambitions to connect Filipino businessmen to overseas clients.
Pac Pay from Pac Technologies will launch in early 2021, Pacquiao told the World Fintech Festival that was hosted in Manila last week. It will connect Filipinos to "global influencers and millions of fans" around the world, he said.
The investment will deepen the 42-year-old sports legend's stake in fintech. He also recently launched his own cryptocurrency, Pac Coin. Pacquiao said Pac Pay would offer a rewards program that includes autographed merchandise, show tickets and donation credits to charities.
"Amid this pandemic, we have seen an incredible opportunity to adopt digital technology, including global digital payments. We entered the regional market with the intention of helping our businessmen grow. This will be beneficial to MSMEs and Pinoy customers," he said.
The cross-border platform will make money transactions especially easy for OFWs, Pacquiao said. Pac Pay will "incentivize" users, he said.
According to tech and business publication KrAsia, Pac Technologies has been incorporated in Singapore since May 2020. Reporter Yin Lin Tan writes that Sean Wong, "Pacquiao’s sports agent for Greater China, Taiwan, and Hong Kong", currently serves as CEO. At the time of publication of the article, the service was supposed to launch at the end of the year.
This story originally appeared on Reportr.world. Minor edits have been made by the SPIN.ph editors.
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