Pacquiao Launches BSP-Regulated Manny Pay to Disrupt PH Digital Payments

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Former Philippine senator and boxing champion Manny Pacquiao has launched “Manny Pay,” a new financial app operating as a Bangko Sentral ng Pilipinas (BSP) regulated entity, aiming to capture a share of the country’s competitive digital payments market.

The app, operated by Manny Pay Corporation and powered by 7th Pillar Integration Systems Corp., will facilitate “frictionless” transactions by allowing users and businesses to accept payments via e-wallets, credit cards, online banking, and over-the-counter (OTC) centers, PhilStar reported.

The company stated the app promises lower transfer fees and convenient bills payments for consumers.

B2B Focus and Utility Partnership

Beyond consumer payments, Manny Pay is heavily targeting businesses of all sizes, offering corporate services such as “Mass Payout” solutions, “Recurring payments” handling, and “Online Collections.” This is according to the Manny Pay website.

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This B2B push is anchored by a key partnership, with 7th Pillar inking a memorandum of agreement with Prime Electric Holdings Inc. The agreement will see the app used across the utility’s distribution network, streamlining bills payments for its customers.

Not Pacquiao’s First Tech Foray

The launch of the BSP-regulated “Manny Pay” marks a more formal entry into the financial sector for Pacquiao, distinguishing it from his past ventures in the less-regulated Web3 and cryptocurrency space.

The boxer-turned-politician has previously been linked to several digital asset projects, including:

• In 2023, the Manny Pacquiao Foundation partnered with the Shiba Inu Ecosystem to use its Shibarium blockchain for fundraising.
• Pacquiao was involved in the 2018 launch of the “Pac Token” with Singapore-based GCOX and announced a “Pac Pay” crypto firm in 2023.
• He has launched multiple non-fungible token (NFT) collections, including projects with Ethernity Chain (2021) and a dog-themed collection (2022). One NFT project was linked to LodiCoin, which later received an advisory from the Philippines’ Securities and Exchange Commission (SEC).

This article is published on BitPinas: Manny Pacquiao Launches BSP-Regulated Manny Pay to Disrupt PH Digital Payments

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