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What will Pacquiao’s new PacPay do? (And why isn’t it called “Manny Transfer”?)

What will Pacquiao’s new PacPay do? (And why isn’t it called “Manny Transfer”?)

Image: Senator Manny Paquiao Official Facebook page

Okay, that second half may be a snide joke, but senator and boxing legend Manny Pacquiao was dead-serious when he announced the launch of his new digital payment platform, Pac Pay.

Strengthening his fascination with financial technology solutions, Pacquiao broke the news about his new venture at the World Fintech Festival which the Philippines hosted last week. 

The new “cross-border” payment platform will launch under Pacquiao’s technology startup, Pac Technologies, and will offer quicker, more convenient, and more secure financial transactions among top influencers, global brands, and their fans.

“With PacPay, we can help local businesses connect to global influencers and millions of fans around the world,” Pacquiao clarified in a report by ABS-CBN News. “We will also offer a unique rewards program where users will receive explosive perks, autographed merchandise and even tickets.”

“Amid this pandemic, we have seen an incredible opportunity to adopt digital technology, including global digital payments. We entered the regional market with the intention of helping our businessmen grow. This will be beneficial to MSMEs and Pinoy customers,” Pacquiao further explained. 

He plans to launch the new digital payment platform in early 2021.

This isn’t Pacquiao’s first time to invest in fintech, though. Last year, the boxing legend also launched his own cryptocurrency called Pac Tokens, which, as of the moment, is listed under Singapore’s Global Crypto Offering Exchange or GCOX. 

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