AirAsia’s digital finance division has secured $100 million funding, led by South Korean conglomerate SK Group.
The BigPay unit will use the funding to become ‘one of the largest challenger banks in Southeast Asia’ according to its CEO Salim Dhanani. BigPay currently operates in Malaysia and Singapore and allows customers to use a prepaid debit card that can be used wherever Mastercard and Visa are accepted.
Dhanani said expansion to Thailand is next followed by the rest of Southeast Asia.
