Manila, Philippines. 9 October 2024 — 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.
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