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From Boxing to Politics, Pacquiao Will Now Tackle Fintech With... PacPay

Watch out, PayPal.
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It looks like everyone wants to cash in on the rising cashless economy as there’s another player in the ring, and his name is Manny Pacquiao.

On top of the sports industry and politics, the boxing icon and senator is now venturing into fintech with a new digital payment platform aptly called PacPay.

The fintech will be targeted at overseas Filipino workers to make cross-border transactions easier for OFWs, said Pacquiao during the World Fintech Festival.

"We will also offer a unique rewards program where users will receive explosive perks, autographed merchandise and even tickets,” said Pacquiao.

PacPay is expected to launch in early 2021.

The platform will also donate a portion of its proceeds to Pacquiao’s various charities.

"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," said the boxer.

Last month, Pacquiao pledged to donate all his talent fees from Globe Telecom to the typhoon victims in the Philippines. He had just signed an exclusive deal with the telecom, giving them streaming rights to his future boxing matches.

PacPay was born from a partnership between Pac Technologies and Remsea, a Singapore-licensed fintech. Prior to PacPay, Pacquiao launched his own cryptocurrency called Pac Coin, which is reportedly the first celebrity cryptocurrency on the market.

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Anri Ichimura
Section Editor, Esquire Philippines
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