"This will make cross-border transactions easier for our countrymen," said Pacquiao.
Boxing legend and Philippine Senator Emmanuel “Manny” Pacquiao is set to launch his own digital payment platform early next year – and it will be called PacPay.
Pacquiao’s startup tech firm Pac Technologies will roll out the new system in 2021 in the hopes of “helping Overseas Filipino workers (OFWs) in their financial transactions,” reported ABS-CBN News.
In the World Fintech Festival event, Pacquiao declared:
“This will make cross-border transactions easier for our countrymen especially the OFWs.
“With PacPay, we can help local businesses connect to global influencers and millions of fans around the world.
“We will also offer a unique rewards program where users will receive explosive perks, autographed merchandise and even tickets.”
Furthermore, the Pacquiao said portions of PacPay earnings will be used for charitable projects in the country.
“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,” the sports icon-turned-politician explained.
In September 2019, Pacquiao also rolled out Pac Token, his own cryptocurrency. It has since been dubbed as the world’s first celebrity cryptocurrency.
As far as his political career goes, Pacquiao coninues to stay mum about his plans for the upcoming 2022 national elections. Earlier this December, he has been named as the new president of PDP Laban, President Rodrigo Duterte’s political party.
Meanwhile, his former promoter Bob Arum said he “wouldn’t be surprised” if Pacquiao would run for the presidency,” wrote the Inquirer.
“I did a telephone call with him. ‘Bob, I’m gonna run in 2022 and when I win, I want you there at my inauguration,” shared Arum.
Pacquaio has since denied Arum’s claims.
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