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Philippines' biggest bank seeks slice of mobile payment boom

BDO Unibank's e-wallet set to challenge apps backed by Ant Group and KKR

BDO Unibank launched its BDO Pay mobile wallet in the Philippines this year. (Source photos by Reuters)

MANILA -- The Philippines' largest bank is seeking a slice of the country's flourishing mobile payments business in a move that would increase competition in a field dominated by fintech apps backed by giants such as China's Ant Group and KKR.

BDO Unibank early this year launched BDO Pay, a mobile wallet for bills, merchant payments and money transfers. The service is currently available only to BDO account holders. However, the bank says on its website it is "working on making BDO Pay available [also to] non-account holders."

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