PayMaya: More local firms tapping app for payments
The enterprise arm of financial technology (fintech) player PayMaya has enabled more businesses to accept and offer digital payments to their customers, helping merchants to digitalize their businesses amid the pandemic.
PayMaya President Shailesh Baidwan said his group has helped businesses of varying sizes to provide customers with digital payment options, as they have decided to “focus” on online deliveries instead of physical operations.
Baidwan said as of end-November, the number of merchants onboarded and using various PayMaya digital payment acceptance solutions have increased by 1,500 percent, “signifying an exponential shift in the way merchants are conducting their business amid the pandemic.”
“Our broadest range of relevant digital payment solutions for businesses of all sizes, coupled with fast and seamless onboarding, means it’s easier than ever for businesses to accept cashless payments within minutes,” he added.
In late last year, PayMaya introduced PayMaya Negosyo, a program that assists micro, small, and medium enterprises in taking the digital shift, providing them with digital payment tools, such as Payment Links, Digital QR, and PayMaya Checkout Gateway, among others. These tools allow merchants to accept cashless payments and even generate new income streams.
Meanwhile, large enterprises in the restaurant, groceries, pharmacy, transportation, and petroleum industries, among others, have accelerated their adoption of cashless payments acceptance using PayMaya QR and the PayMaya One terminal.
PayMaya said it has also enabled businesses to settle their permits, social security contributions, and tax dues as agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Department of Trade and Industry, Social Security System (SSS), and PAG-IBIG Fund using the PayMaya app.
Backed by several foreign investment and tech giants and led by PLDT Inc., PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cut across consumers, merchants, communities, and government. It currently has a consumer base of 28 million users.