Salmon Group Partners with AllBank to Launch the QR Ph Payment Method

MANILA, PHILIPPINES - Media OutReach Newswire - 3 April 2024 - 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, is thrilled to announce 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.

This groundbreaking collaboration harnesses the Salmon Group's expertise in both fintech and in 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, offering consumers a modern and efficient alternative.

This means that Salmon repayments are now much simpler. You don't need to open several screens and apps just to make a transaction. All you need to do is open the Salmon app and choose QR Ph as the payment option, generate your unique QR Ph code and save it to your photo gallery. You can just upload the QR Ph to your 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 more need to go back and forth between apps to make a payment. It's now easy and hassle-free."

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 prioritize ensuring the security and convenience of transactions, providing a safe and efficient method for customers to make payments at participating merchants.

For further information about Salmon and its initiatives, please visit Salmon's website at www.salmon.ph

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About the Salmon Group

Salmon Group is made up of Fintech Holdings Ltd and its subsidiaries in the Philippines including Sunprime Finance Inc. and the Rural Bank of Sta. Rosa (Laguna), Inc., which was established in 1963. The Group is dedicated to expanding financial inclusion by providing customers with cutting-edge, customer-centric, AI and data-driven banking and financial services. It is on a mission to empower underserved communities across Southeast Asia and is supported by world-class shareholders including the sovereign wealth fund of Abu Dhabi (ADQ) and other blue-chip international and Filipino investors.