Eplayment and LYKA announce partnership, adds new payment channels

Eplayment Corporation is pleased to announce that it has partnered with LYKA, the trending social media platform based in Silicon Valley and Hong Kong that allows its users to connect with each other and share their interests.

The partnership will make the purchasing of digital gift certificates called GEMs (G-iftcard in E-lectronic M-ode) easier for Filipino users as Eplayment’s Epaygames platform connects different payment channels to the LYKA platform. LYKA users may now transact using GCash, Paymaya, Bayad Center, BDO, BPI, and many others to be integrated soon. This empowers LYKA to accept over-the-counter, cash deposits, online banking, and e-wallet payments.

Both companies believe that will be beneficial for Filipinos since it opens up different ways to pay for Filipinos especially through digital transactions. It was reported that in 2020 the frequency of e-Wallet transactions for Filipinos rose from 18% to 25% at the end of the year while cash transactions declined from 48% to 37%. It follows the notion that the Philippines is trending towards becoming a cashless society.

With the rise of digital transactions and the fall of cash transactions it is only a matter of time before it happens. This partnership along with the previous ones with Multisys, and EON bank continues to show that Eplayment is at the forefront of this movement along with other companies here in the Philippines.

“We’re really excited about this partnership and what it means for the future of both payment networks and social media networks in the Philippines,” said Karlos Naidas, Eplayment founder and Chief Executive Officer.

These digital GC's called GEMs can be bought in the LYKA app and can be shared among friends, exchanged for goods in its partner stores, or can be used to redeem products on the LYKA MALL. Products include gadgets, fashion, lifestyle and even hotel accommodations.

Topics: Eplayment Corporation , LYKA , Karlos Naidas , LYKA MALL
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