Ninja Van and PNB builds safer and faster remote payment collection
The partnership of Tech-enabled express logistics company Ninja Van Philippines (whose corporate name is Wall Street Courier Services, Inc.) and Philippine National Bank (PSE:PNB) is making it easier and safer for small and medium business customers across the country to receive payments and manage cash flow during COVID-19 and beyond.
Ninja Van Philippines Country Head Martin Cu said there is a growing number of opportunities in e-commerce logistics brought bychanging customer expectations. Cu said: “The coronavirus outbreak has transformed the way customers shop. Our partnership with PNB allows our 7,000 ninjas to deposit Cash-On-Delivery payments in more than 3,000 Palawan Express and PNB branches nationwide – enabling shippers across the countryto collect payments faster, more securely, and more efficiently than ever before.”
Launched in Singapore in 2014, Ninja Van Philippines currently provides hassle-free delivery services for businesses of all sizes across Southeast Asia. It started operating in the Philippines in 2016, fully covering areas in Metro Manila, select areas of Luzon, Visayas, and Mindanao. To date, Ninja Van has some 7,000 motorcycle riders all around the archipelago.
Cu said that with the pandemic limiting the traditional “brick and mortar” shopping, shoppers are turning to e-commerce as a solution for their retail needs. Ninja Van caters to a wide array of online shops selling goods available for purchase. This includes clothing, electronics, furniture and accessories among others.
Ninja Van Philippines has been a partner of PNB for its Corporate Remote Collection Settlement service since August 2019. PNB serves as a settlement bank for client payments to Ninja Van coursed through Palawan Pawnshop – Palawan Express Pera Padala(PPS-PEPP), one of the country’s leading pawnshop and remittance service companies.
PNB CEO Wick Veloso said the bank is accelerating its digital transformation as it adapts to more “new normal” banking strategies. PNB will continue to provide customized financial solutions and help customers move forward during this difficult period.
Veloso said “E-commerce, especially those of small businesses, is a great way to support the retail industry. PNB aims to be at the forefront of making banking safer and easier for our customers.”
Through its institutional banking business, PNB is helping corporate clients like Ninja Van by partnering with non-bank financial institutions like PPS-PEPP to strengthen the client’s value chain.
PNB’s sector head for Institutional Banking, EVP Cenon “Jun” Audencial, Jr., said that, “Beyond branch banking, PNB is committed to take care of our clients’ entire ecosystem – from funding their projects to managing their assets to providing access to suppliers and service providers that will enhance their operations.”
Part of PNB’s Institutional Banking business is the Ecosystem Division. This team manages the end-to-end requirements of the clients from creating, developing, selling and marketing customized and innovative financial solutions. It creates credit programs, innovative solutions, trade and customized cash management products. Currently, special focus is given to developing digital financial solutions and customized credit programs.