BigPay is one of the businesses AirAsia, a pioneer oflow-cost flying in
"We are going to cut exchange rates. We will also disruptthe remittance market. And finally we will get into the moneylending business," AirAsia Group CEO Tony Fernandes said at theMoney20/20
The company has also been selling physical assets, like itsleasing business and pilot training centre, as it focuses moreon digital business development.
Corrine Png, CEO of transport research firm CrucialPerspective, said in a Feb. 28 note to clients that AirAsia wasmaking "marked progress" on digitalisation and could ultimatelytriple in value if it is able to monetise its data.
The BigPay app allows customers to store up to 10 credit ordebit cards as top-up sources and for users to pay their friendsinstantly. Users also earn reward points with AirAsia's loyaltyprogramme.
Other airlines such as EasyJet plc and QantasAirways Ltd offer travel money cards but they do nothave remittances or lending businesses.(Reporting by Jamie Freed and Anshuman DagaEditing by Muralikumar Anantharaman)