Building an interconnected digital payments ecosystem
PayMaya fully supports the Bangko Sentral ng Pilipinas’s goal of achieving
Building robust and interconnected payment ecosystems is critical in achieving the country's goal to raise the share of digital payments valu
"The digital transaction goal
"This entails establishing the right mix of relevant consumer services and incentives, offering universal payment acceptance solutions for merchants and government agencies – both online and offline, as well as bridging the underserved market to the digital economy through pervasive on ground presence," he added.
Encouraging consumers to use digital payments
“The digital payments experien
Under its "Don't Pay Cash. PayMaya!" campaign launched in late 2019, PayMaya seeks to highlight how digital payments offer more convenience and better rewards than cash. Every time PayMaya account holders buy load, pay bills, pay online or in stores, or send money to friends and family, they receive incentives in the form of cashback rewards that can range from as little as P10 to as much as P500 per transaction.
To further enhance the digital payments propositi
Enabling businesses and government
PayMaya has partnered with the largest players in the quick-service restaurant, retail, pharmacy, transportation, and hospitality industries, as well as major government agencies, to equip them with seamless, universal digital payment solutions that allow them to accept all forms of payment in their branches or online.
This is achieved through the One by PayMaya device, an all-in-one point-of-sale (POS) terminal which integrates QR, credit, debit, and prepaid card payments in one device for in-store transactions. For online channels, PayMaya Checkout allows merchants and agencies to accept card payments as well as Pay with PayMaya, which only requires the customer’s mobile number linked to their PayMaya account.
All of these innovations make it easier for businesses and the government to accept digital payments from the general public. And if the 2019 11/11 Single’s Day shopping event is any indication–where PayMaya recor
On ground agents critical to bridge digital divide
"Not all Filipinos are going digital at the same pace. To ensure that no one is left behind, PayMaya’s on ground presence through its Smart Padala agent network is bridging the underserved and unbanked to the digital economy,” Baidwan
Smart Padala has the widest remittance network with over 27,000 partner agents nationwide. These agents act as “digital hubs” in their communities, offering services such as bills payment and digital goods purchase on top of remittance.
The latest data released by the BSP from the study conducted by the United Nations-based Better Than Cash Alliance (BTCA) showed very encouraging signs of growth for digital payments in the Philippines. Digital trans
"This year is a turning point for digital payments in the Philippines. As we all work towards achieving the country's digital transaction
PayMaya is the leading payments ecosystem enabler in the Philippines uniquely offering end-to-end consumer and merchant payment solutions. It is the financial technology arm of Voyager Innovations, the leading technology company in the country backed by PLDT, KKR, Tencent, World Bank’s IFC and the IFC Emerging Asia Fund. To know more about PayMaya and all of its products and services, visit www.PayMaya.com.