Batangas Cooperatives to Go Cashless

The Cooperative Union of Batangas (CUB) has tapped digital payments services leader PayMaya, in cooperation with PLDT Enterprise, to provide a safer and more seamless way to disburse salaries, loans and dividends to its cooperative members.

Through the partnership supported by PLDT Enterprise, the cooperative is utilizing the PayMaya PayOut solution to conveniently disburse in real-time loans and dividends to its members as well as salaries to its employees through their PayMaya accounts.

Aside from this, they can also use the PayMaya platform to process the transfer request of their members to move funds from their savings accounts and their PayMaya accounts, which will allow them to perform other financial transactions such as paying for goods online and in store, paying bills, buying load, and sending money, among others.

“We are thankful for this strategic partnership with PayMaya and PLDT Enterprise and as it allows us strengthen our relationship with all the members of the cooperatives, as we also accelerate the digitization of our services. This is a significant move for our own efforts in helping build a safer cashless ecosystem in our own community,” Cooperative Union of Batangas Chairperson Angelito B. Bagui said. “The effort of partnership is not limited to CUB, but it can go as far as Sothern Tagalog Union of Cooperative (STUC) with membership coming from the Region -IV-A (CALABARZON) & Region-IV-B (MIMAROPA).”

CUB is the biggest cooperative association in Batangas with 300 members from various cooperatives including Balayan Municipal Employees Multi-purpose Cooperative, Balayan National Highschool Multi-purpose Cooperative, Calaca Public Market Vendors and Community Credit Cooperative, Inicbulan Waterworks Multipurpose Cooperative, Lobo AgroIndustrial Development Multipurpose Cooperative, Lodlod Multipurpose Cooperative, Malalim Multipurpose Cooperative, Ocvas Multipurpose Cooperative, Saint Raphael Archangel Parish Multipurpose Cooperative, San Jose Workers Multipurpose Cooperative, Soro Soro Ibaba Development Cooperative, and United labor Service Cooperative.

“We are in full support as the Cooperative Union of Batangas takes the first steps in digitizing their services, which helps bring financial services closer to the grassroot communities,” PayMaya Founder and CEO Orlando B. Vea said.

PayMaya's PayOut disbursement platform is the same mechanism currently being used by select government agencies and local government units in delivering digital financial aid to their constituents, such as the likes of the Department of Social Welfare and Development (DSWD), Social Security System (SSS), as well as the cities of Manila, Pasig, Caloocan, Mandaluyong, and Quezon City, among others.

For his part, PLDT FVP and Enterprise Business Head Victor Y. Tria added: "It is indeed essential that we all together uplift our nation, performing collective acts of Bayanihan by sharing our resources and capabilities. Together with PayMaya, I’m very confident, even in the midst of adversity, that this partnership with CUB will enable the citizens of Batangas with the means to reinvent the way they do things.”

AGAP Partylist Representative Hon. Rico B. Geron also expressed his support on the partnership, “We believe that the innovative partnership of Cooperative Union of Batangas with PLDT Enterprise and PayMaya is beneficial to our cooperatives as well as Batangas citizens especially at this challenging time. The digital shift can help make our services safer and more efficient.” 

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines, with platforms and services that cut across consumers, merchants, and government. Aside from providing payments acceptance for the largest e-Commerce, food, retail and gas merchants in the Philippines, PayMaya enables national and social services agencies, as well as local government units, with digital payments and disbursement services.

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. To know more about PayMaya's products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.