Digital financial services provider PayMaya has enabled over 50 government agencies to streamline their services and accept cashless payments online todate.
From June 2019 to June 2020, the volume of transactions processed by PayMaya from partner government agencies surged 900 per cent.
This shows the government efforts to encourage digital payments for fees and services by accepting debit, credit, and e-Wallet payments has paid off.
“In the span of one year, government agencies have stepped up their efforts in digitalizing their processes," according to Orlando B. Vea, Founder and CEO of PayMaya.
Because of this, many agencies have been able to continue offering relevant services despite the current crisis, he added.
To date, PayMaya has already inked partnerships with the Social Security System (SSS), Bureau of Internal Revenue (BIR), Home Development Mutual Fund (HDMF) or PAG-IBIG, the Department of Trade and Industry, the Department of Foreign Affairs, the Department of Science and Technology, the Bureau of Customs, the Bureau of the Treasury through the Bonds.ph platform, the Department of Agriculture’s Agricultural Credit Policy Council, the Professional Regulation Commission, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), and the National Home Mortgage Finance Corporation (NHMFC), among others.
As part of measures needed to be observed in the ‘new normal’, PayMaya intends to enable more government agencies, institutions, and local government units to accept cashless payments and digital disbursements.
Hence, PayMaya has launched its LGUs Embracing and Accelerating Digitalization (L.E.A.D.) program to help local governments offer digital transactions for constituents.
The company likewise enabled digital disbursements for the cities of Manila, Mandaluyong, Caloocan, Pasig, and Quezon City, particularly in delivering financial aid to beneficiaries severely affected by the COVID-19 pandemic.
SSS and the Department of Social Welfare and Development (DSWD) also tapped Paymaya to distribute financial aid to beneficiaries of its Small Business Wage Subsidy (SBWS) and Social Amelioration Program (SAP).
Furthermore, it has powered the digital payment facilities of LGUs such as Valenzuela and Taguig.
Through its app and wallet, PayMaya provides millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined.
Its Smart Padala by PayMaya network of over 30,000 partner touchpoints nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services.