Boxing icon Manny Pacquiao combines business and charity with digital payment venture

Senator and boxing icon Manny Pacquiao bared plans to launch his own digital payment platform early next year.

The venture dubbed PacPay is in collaboration with Singapore-based digital remittance firm Remsea and designed to cater to brands, social influencers, fans, and overseas Filipino workers (OFWs).

“This will make cross-border transactions easier for our countrymen especially the OFWs,” said Manny at the recent World Fintech Festival in Manila.

"With PacPay, we can help local businesses connect to global influencers and millions of fans around the world.”

The platform will tie in a rewards program to allow users to enjoy a variety of perks including autographed merchandise and event tickets.

There's also an element of altruism in the endeavor. This means that the business does not only benefit the owners and investors, but also others who are in need.

“The PacPay ecosystem is designed to support Filipinos who are in need. As users transact via PacPay part of our proceeds support charity projects in the Philippines,” he explained.

The 42-year-old boxer-turned-senator is heavily invested in fintech - an industry that incorporates technology into traditional financial services.

Manny came up with his own cryptocurrency dubbed Pac tokens last year. It is marketed as the first celebrity cryptocurrency.

Initial reports said that the Pac token is listed on Singapore's Global Crypto Offering Exchange (GCOX).

Aside from Manny, former Liverpool and England soccer star Michael Owen, and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi's ruling family, were cited as private investors in Pac token.

Manny launched his crypto tokens with a free concert in Manila on September 2, 2019 where he sang to more than 2,000 fans to promote his tech venture.

PacPay, just like Pac tokens, will be operating under Manny's tech start-up, Pac Technologies.

The global pandemic this year has accelerated the demand for cashless transactions utilizing modern technology and the internet for convenience and health safety.

“Amid this pandemic, we have seen an incredible opportunity to adopt digital technology, including global digital payments,” said Manny.

“We entered the regional market with the intention of helping our businessmen grow. This will be beneficial to MSMEs and Pinoy customers.”

Meanwhile, you can check out Pacquiao family's quarantined life in General Santos City in the gallery below: