Singapore’s Aleta Planet eyes Greenergy as partner for virtual cards, remittances

Singapore-based fintech firm Aleta Planet is eyeing to establish a partnership with a listed local company, Greenergy Holdings Inc., for its issuance of virtual cards as well as cross-border money remittance services.

In a statement on Thursday, Aleta Planet said, under its propose collaboration with Greenergy, it will provide its proprietary technology solution to issue co-branded virtual UnionPay cards to individual clients through Greenergy and its affiliates.

“This will enable ease of payment collection and a fully digital cross-border money remittance service to UnionPay accounts,” the company said.

UnionPay is the world’s largest card payment network with over seven billion cards issued.

Greenergy, meanwhile, shall promote the use of virtual accounts and cross border remittance services to the customers and clients of its subsidiaries and affiliates.

Founded in 2014, Aleta Planet specializes in end-to-end technology solutions for financial institutions and corporates.

It provides payment services regulated under the Payment Services Act, governed by the Monetary Authority of Singapore.

It focuses on a client-specific, solutions-oriented approach and has successfully delivered leading-edge technology solutions.

Greenergy, on the other hand, is a publicly-listed firm engaged in agriculture, agri-tourism, real estate development, banking and finance, and information technology.

Other services under the planned partnership will include payment acceptance, domestic and cross-border money transfers, e-commerce and white-labelling for financial institutions and corporations and co-branding programs to co-brand partners in relation to the financial technology services it provides.

The goal of the collaboration is to maximize opportunities for business growth, enhance shareholder value and cater to the evolving needs of Filipino consumers especially during this time of the COVID-19 pandemic, according to Aleta Planet. — BM, GMA News