SSS ₱51-B wage subsidy accessible via PayMaya

Published April 20, 2020, 12:00 AM

by manilabulletin_admin

By EMMIE V. ABADILLA

Small businesses affected by the COVID-19 pandemic can receive the government’s ₱51-billion wage subsidies straight to their PayMaya electronic wallets starting next month.

State pension fund Social Security System (SSS) tapped digital financial services provider PayMaya to disburse proceeds from the state’s Small Business Wage Subsidy (SBWS) program and its other loan offers to more than 3 million member-employees.

Eligible employers and their employees can now link their PayMaya accounts in the My.SSS online portal, so that they can receive their wage subsidies when the disbursements start this May.

Depending on their location, eligible employees stand to receive P5,000 to P8,000 in subsidies from the government through the SSS.

Employers have until April 30, 2020 to submit their applications at the SSS website (www.sss.gov.ph).

To receive their wage subsidies via PayMaya, employees must make sure that their PayMaya accounts are upgraded.

After receiving their wage subsidies or loan proceeds in their PayMaya accounts, employee beneficiaries may immediately use the funds to pay bills, buy airtime load, send money to family, or shop online for basic necessities using their PayMaya app.

They may also opt to withdraw the funds at any Bancnet ATMs currently available using their physical PayMaya card or through the more than 30,000 Smart Padala centers nationwide.

“This is convenient for employees in small businesses who were unable to work during the enhanced community quarantine period,” according to Orlando Vea, Founder and CEO of PayMaya.

“Fast and easy access to funds for their daily necessities becomes critical at this time. We are happy to be part of government’s thrust in using e-Money as a convenient tool for cash distribution,” he added.

The disbursement of wage subsidies and other loan proceeds is an expansion of the partnership between SSS and PayMaya.

Together, they launched a more convenient way to pay for member contributions using the SSS mobile app in late 2019.

To sign up for a PayMaya account, one has to download the PayMaya app in the Google Play Store or the Apple App store and register using their mobile number.

PayMaya offers end-to-end payment solutions with the widest on-ground branch network. It is the first to give millions of Filipinos an e-wallet that allows them to pay cashless transactions at any time of the day, anywhere in the world, and from any device.

 
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