Airasia Super App expands into e-wallet scene

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The airasia Super App has rolled out the airasia pocket, an e-wallet within the super app that enables users to reload and make payments for all the products and services on the app while being rewarded at the same time. Airasia pocket users will be able to earn airasia points upon activation, apart from enjoying a discount off flight bookings and receiving 10 times the number of airasia points with every food order on weekends.

Airasia pocket is currently available to all airasia Super App users in Malaysia in ringgit and there are two types of accounts available - Lite and Pro. The Lite account is recommended for everyday use with a wallet size limit of RM500, while the Pro account is designed for higher value transactions with a wallet size of up to RM4,999.

The airasia pocket’s features are developed by Fass Payment Solutions, a white-label e-wallet player and an approved e-money provider by Bank Negara Malaysia. According to the company, this platform is designed to allow its partners to build and innovate on Fasspay’s full-stack payments platform and offer various payment and financial services to their customers. A+M has reached out to airasia Super App for additional information about the new launch and how it plans to differentiate itself from other e-wallets in the market.

Mohamad Hafidz Mohd Fadzil, airasia Super App's chief fintech officer, said as fintech and neobanks continue to reshape the financial landscape in Malaysia and across ASEAN, airasia Super App is continuing to be an industry disruptor and expand its fintech services by launching airasia pocket. "This aligns with our fintech strategy to drive a seamless user experience and make online payments' invisible'. By working with our partner Fasspay, users can have peace of mind as this new feature is completely secure, fully compliant, and licensed by Bank Negara Malaysia," he said.

Amanda Woo, CEO of airasia Super App, added that this is the final step in closing the loop for the whole airasia ecosystem, which will "draw out the true superpower of the airasia Super App". "Having airasia pocket also provides more significant insights into customer behaviour which will assist us in giving better value and more quality services to all our app users," she added.

Chris Leong, CEO of Fasspay, said: "We are honoured to be a partner in airasia Super App’s fintech journey and will continue to support its aspiration to grow regionally and globally. Fasspay’s mission is to enable our partners, such as airasia Super App, to realise their vision by using this wallet-as-a-service to extend their financial services. This partnership is just the beginning for Fasspay as our ultimate aim is to avail this full-stack payments platform to other customers both small and large globally.”

Separately, the long hall unit under Capital A, AirAsia X, recently refreshed its branding as it resumed operations after a two-year hiatus. Capital A's chief brand officer, Rudy Khaw, said previously that the new branding strategy marks a new era for AirAsia X and aligns with the larger AirAsia Aviation Group of airlines within the ecosystem of Capital A.

Separately, Reuters recently reported that Capital A is evaluating fundraising options for a planned US listing. Citing CEO Tony Fernandes, Reuters said Capital A "received a clean report" from EY and was confident of meeting a deadline to submit a regularisation plan by early next January. Fernandes added that its airlines "have strategic plans" to fly again "with a leaner and more robust model" to ensure a successful and viable option for the future. He also said that Capital A will push on with digital businesses.

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