KUALA LUMPUR, Feb 8 — The financial services in South-east Asia is about to be revolutionised with a new app called BigPay, created with the motto that “everyone can buy.”

The app is owned by parent company AirAsia will provide low-cost, fair and transparent financial services for all users.

In a statement today, BigPay said the service is an alternative to bank accounts with an accompanying card that gives users the flexibility to spend anywhere they wish.

With BigPay, one can open an account quick and paperless on your smartphone.

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“After downloading the app and signing up, each BigPay customer is issued with a unique Mastercard that enables users to spend securely at over 35 million merchants — both on and offline — as well as withdraw their cash from ATMs globally,” it said in a statement today.

Customers can top-up their BigPay account from all their existing cards so that they can manage all spendings in one place and take back control of their finances through a seamless user experience.

One of the main perks of the app is it reduces the cost of travel for everyone by not imposing Forex (FX) mark up on international spendings.

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“Many debit and credit cards charge large FX spreads, transactional fees and have hidden cross-border fees. BigPay is waiving such fees,” it added.

The app can be downloaded on Google Play Store and Apple App Store.

On Jan 15, AirAsia group chief executive officer Tan Sri Tony Fernandes announced the inception of BigPay as a part of the company’s digital strategy.

“One day this product will be worth more than @AirAsia . Many features being rolled out. Soon no more cash on AIRASIA. Analysts don’t even know about our digital strategy,” he wrote on Twitter using his official account.

The electronic wallet scene has been getting more popular in the country, as evident in the number of cashless mobile payment solution made available in the Malaysian market now such as China’s Alipay.