AirAsia is primarily known as a low-cost carrier but truth to be told, its portfolio goes beyond that just providing affordable means for travelers to fly. The company also has its hands in financial sector and this might soon help AirAsia to implement cashless payment system for its customers.
In a series of tweets earlier today, AirAsia’s Group CEO, Tony Fernandes has introduced the group’s own e-wallet company, BigPay to general consumers. Through these tweets, he made it quite clear that AirAsia will be adopting cashless payments in the near future and quite confident that its new subsidiary has a rather bright future ahead.
The launch of a great company BIGPAY. Part of AIRASIA Digital strategy. One day this product will be worth more than @AirAsia . Many features being rolled out. Soon no more cash on AIRASIA. Analysts don’t even know about our digital strategy. pic.twitter.com/peW5r9RwJ7
— Tony Fernandes (@tonyfernandes) January 15, 2018
While details are rather patchy at the moment since BigPay is not yet officially launched according to our friends at AirAsia, its official website and app listings have provided a lot of information regarding what the company has to offer to consumers.
For example, the e-wallet service provided by BigPay is actually consisted of two elements: the BigPay mobile app and the BigPay prepaid card. Since the prepaid card is a MasterCard, it can be used throughout the world wherever MasterCard are accepted regardless whether online or offline. Being a prepaid card, it is not linked to users’ bank account as well.
However, most of consumers activity will be taking place through the BigPay mobile app including card application, fund management, and transaction records. Additional features will be added soon including QR payments and NFC which will turn the BigPay app into a proper e-wallet application.
In many ways, the new BigPay service might not be much different from the existing Big Prepaid card which has been offered to consumers for the past few years. However, BigPay’s aim and scope is much bigger though since it is positioning itself as an e-wallet company rather than just a mere prepaid card service provider.