SAN
FRANCISCO and MUMBAI,
India, Oct. 9, 2024 /PRNewswire/ --
PalawanPay, a leading e-wallet solution from the Palawan
Group of Companies, has partnered with CleverTap, the all-in-one
engagement platform, to enhance customer engagement, drive
personalization, and fuel significant growth.
Recognized as one of the fastest-growing e-wallets
in the Philippines, PalawanPay complements its nationwide
physical presence by offering a comprehensive suite of services
accessible anytime, anywhere. The app plays a crucial role in
realizing the company's vision of becoming the leading money shop
in the Philippines by providing
advanced, technology-assisted financial services. Building on its
substantial success, PalawanPay continuously strives to enhance
financial activity rates, increase product awareness, and
transition anonymous users into verified customers. The company
also focuses on boosting conversions and re-engaging users to
further strengthen and expand its growing user base.
CleverTap's tailored solutions
are pivotal in driving PalawanPay's activations
by unifying customer profiles and reducing drop-offs. These
solutions accelerate transactions through personalized engagement
and targeted promotions, maximizing user retention with automated
reminders and real-time omnichannel optimization.
Additionally, they proactively engage at-risk users to minimize
churn and encourage reinstallation.
By deploying CleverTap's integrated platform, PalawanPay engages
with over 20 million users and achieves:
- A 2.2x increase in conversion rates for new users
within 1 week of the first app launch, with previously
unbanked individuals in the
Philippines gaining access to digital currency.
- A 7x increase on monthly repeat transaction rate for
highly engaged users, relying on PalawanPay for their
monthly financial transactions as compared to less engaged
users.
- A 30% contribution margin on total transacted
users, significantly contributing to PalawanPay's overall
transaction volume, demonstrating their loyalty and trust in the
platform.
Third Librea, President and CEO of PalawanPay,
said "At PalawanPay, our mission is to transform financial
services in the Philippines by
integrating advanced technology with our extensive network. Our
collaboration with CleverTap has been instrumental in
achieving our goals. The ability to personalize user experiences
and deliver targeted promotions has significantly increased our
customer engagement and transaction rates. This partnership not
only enhances our offerings but also brings us closer to realizing
our vision of becoming the leading money shop in the Philippines. We are excited about the
future and remain committed to providing accessible and reliable
financial solutions to our customers nationwide."
Marc-Antoine Hager,
Regional Head - SEA, CleverTap said "We are thrilled
to collaborate with PalawanPay in their accelerated
growth journey as they aim to transform financial services in
the Philippines. At CleverTap, our
focus is on empowering digital-first businesses to create
meaningful customer experiences through personalized engagement and
data-driven strategies. By integrating our
platform, PalawanPay has been able to forge deeper connections
with users and address critical challenges around user retention
and conversion. We are excited to support PalawanPay as they
continue to innovate and expand their services. We look forward to
working with them to achieve even greater milestones together."
PalawanPay was honored with multiple prestigious accolades at
the Asian Banking & Finance Fintech and Retail Banking
Awards 2024. The company continues to demonstrate its commitment to
financial innovation and inclusion, delivering solutions that
resonate with both consumers and the industry.
About Palawan Group of Companies:
The Palawan Group of Companies is composed of products and
services such as Palawan Pawnshop, Palawan
Express Pera Padala,
Palawan ProtekTODO, Palawan Credit, and PalawanPay. A
brand trusted by Filipinos for almost 4 decades, PGC is one of
the fastest-growing financial institutions in the country. With its
strength in remittance and pawning services, the company is the
market leader in the industry and has over 70,000 branches,
Pera Padala outlets, and PalawanPay Money Shops
nationwide.
Palawan Group of Companies offers pawnbroking services, domestic
and international remittances, microinsurance, bills
payment, electronic mobile
phone loading, cash-in of e-wallets, money exchange,
ATM withdrawal, and cash disbursements.
Palawan Group of Companies introduced PalawanPay, an e-wallet
app that allows users to send and receive remittances anytime,
anywhere. PalawanPay is the company's latest digital solution,
offering faster, safer, and more convenient transactions. In
addition to remittances, the app provides access to other financial
services, including bills
payment, e-cellphone load top-ups,
and scan-to-pay QRPH codes. The app also features integrated
functionality for pawn renewal, jewelry item
purchase, ProtekTODO personal insurance, and international remittance claims.
Palawan Pawnshop, Palawan Express Pera Padala, and PalawanPay
are supervised by the Bangko Sentral ng Pilipinas. For more
information, go to Palawan Pawnshop and PalawanPay
Websites.
About CleverTap
CleverTap is the leading all-in-one customer engagement platform
that helps brands unlock limitless customer lifetime
value. CleverTap is trusted by over 2000 brands like Domino's,
Levis, Jio, Papa John's, Zomato, Kotak Bank, Air Asia, Carousell,
TD Bank, and Tesco to help build personalized experiences for all
their customers. The platform is powered by TesseractDB™
– the world's first purpose-built database for customer
engagement, offering speed and cost efficiency
at scale.
Backed by top-tier investors such as Accel, Peak XV Partners,
Tiger Global, CDPQ and 360 One, the company is headquartered in
San Francisco, with presence
across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai,
Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.
For more information, visit clevertap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap/
X: https://twitter.com/CleverTap
Forward-Looking Statements
Some of the statements in this press release may represent CleverTap's
belief in connection with future events and may be forward-looking
statements, or statements of future expectations based on currently
available information. CleverTap cautions that such statements are
naturally subject to risks and uncertainties that could result in
the actual outcome being absolutely different from the results
anticipated by the statements mentioned in the press release.
Factors such as the development of general economic conditions
affecting our business, future market conditions, our ability to
maintain cost advantages, uncertainty with respect to earnings,
corporate actions, client concentration, reduced demand, liability
or damages in our service contracts, unusual catastrophic loss
events, war, political instability, changes in government policies
or laws, legal restrictions impacting our business, impact of
pandemic, epidemic, any natural calamity and other factors that are
naturally beyond our control, changes in the capital markets and
other circumstances may cause the actual events or results to be
materially different, from those anticipated by such statements.
CleverTap does not make any representation or warranty, express or
implied, as to the accuracy, completeness, or updated or revised
status of such statements. Therefore, in no case whatsoever will
CleverTap and its affiliate companies be liable to anyone for any
decision made or action taken in conjunction.
Logo -
https://mma.prnewswire.com/media/2404275/CleverTap_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/palawanpay-engages-over-20-million-users-through-clevertap-302271051.html