Salmon Group, a leading financial technology group dedicated to improving access to credit, savings, and investments for over 500 million underserved customers in Southeast Asia, announced its partnership with AllBank (A Thrift Bank), Inc. to introduce an innovative QR Ph-enabled payment solution, marking a significant shift in the way repayments for financial products are made.
Repay or cash in your Salmon products using QR Ph
The collaboration harnesses the Salmon Group’s expertise in both fintech and consumer lending alongside AllBank’s established presence in the banking sector to provide a seamless, secure, and convenient QR Ph payment solution to millions of customers across the Philippines.
Through this partnership, AllBank will extend the reach of its QR Ph-P2M system to merchants and customers, facilitating transactions through the straightforward scanning of QR Ph codes using smartphones, eliminating the necessity for inputting details manually for traditional payments, and offering consumers a modern and efficient alternative.
According to the brochure, Salmon repayments are now much simpler. Customers don’t need to open several screens and apps just to make a transaction.
The payee just needs to open the Salmon app and choose QR Ph as the payment option, generate the unique QR Ph code, save it into the photo gallery and upload the QR Ph to the preferred e-wallet or bank app to make a repayment.
Raffy Montemayor, Co-Founder of the Salmon Group and Chairman of the Rural Bank of Sta. Rosa (Laguna), highlighted the importance of the partnership in expanding its financial services, saying, “We are excited to partner with AllBank to introduce this innovative QR payment solution to Filipino consumers.”
“This makes Salmon loan repayments much easier with the use of QR Ph codes. There is no longer need to go back and forth between apps to make a payment. It’s now easy and hassle-free,” he added.
The partnership between Salmon and AllBank underscores their joint commitment to driving financial inclusion and innovation in the Philippines.
By merging Salmon’s cutting-edge technology with AllBank’s established banking infrastructure, the QR payment solution aims to meet the evolving needs of Filipino consumers in an increasingly digital world.
Both companies prioritise ensuring the security and convenience of transactions, providing a safe and efficient method for customers to make payments at participating merchants.
