PayMaya Philippines said Tuesday it expects to handle over P200 billion worth of transactions in 2017.
Paolo Azzola, managing director and co-chief operating officer of PayMaya, told reporters the company would likely meet its P200-billion transaction target this year.
Azzola said for 2017, the target value transaction “would be higher” than P200 billion.
He said 2017 would be an “important” year for the company as it planned to expand its over-the-top digital payments app in Southeast Asia.
PayMaya teamed up with Paypal, a global leader in digital payments, to make it more convenient for users or freelancers to withdraw their PayPal funds using PayMaya.
The Philippines is marked as the country with the largest number of freelancers in relation to country population followed by India, the US, Bangladesh and Pakistan.
According to a World Bank study released in June 2015, almost 5 percent of the country’s work force was registered as online outsourcing workers.
“Our collaboration with the global payment leader Paypal aims to break platform barriers hindering our independent earners fro realizing their full potential whether as a working individual or an online business,” Orlando Vea, president and chief executive of PayMaya Philippines and Voyager said.
Rahul Shinghal, Paypal general manager for Southeast Asia said the company is a strong supporter of freelancers and micro small medium enterprises, not just in helping them gain access to the 200 plus markets via its global platform, but also through building relevant partnerships and collaborations that will make it easier and safer for them to move and manage their money.