PayMaya increases touchpoints in PHL

Financial technology (fintech) player PayMaya claimed on Sunday it now has “the largest footprint of financial transactions nationwide,” as it expands its touchpoints to over 200,000 — even larger than that of all Philippine banks combined.

Shailesh Baidwan, President of PayMaya, said these touchpoints enable the 28 million PayMaya users to pay, add money, cash out, or remit.

“As PayMaya continues to lead the push towards cashless for all Filipinos, it is important for us to provide them with the most expansive and reliable on-ground channels that allow them to do safe and convenient financial transactions, no matter where they are in the country,” he said.

The touchpoints include convenience stores, retail merchants, groceries, department stores, food outlets, pawnshops, and Smart Padala centers, among others.

“We have built this robust ecosystem of touchpoints to help ensure that there are easily available and trusted avenues for our customers to add, transact, or move money for all their day-to-day needs,” Baidwan added.

PayMaya’s list of touchpoints is six times larger than the combined 12,371 bank branches and 22,162 ATM terminals currently operating across the country.

This also includes the 37,000 Smart Padala partner agents, which cover 92 percent of all cities and municipalities in the Philippines.