Merchants of digital financial services provider PayMaya skyrocketed over 1,400 percent year-on-year as more people resorted to cashless payments.
Cashless payment volumes which PayMaya processed in retail establishments across the country grew three-fold last month compared with the same period in 2019.
The dramatic increase of Paymaya's unique merchants signifying an increase merchants deploying cashless payment technologies such as PayMaya QR, PayMaya One terminals and PayMaya Checkout online payment gateway for card and e-wallet payments.
"Cashless and contactless payment and money transfer technologies are now part of the world's arsenal against the virus," noted PayMaya Founder and CEO Orlando Vea.
"These touch-free digital solutions are saving lives, making commerce flow and bringing the economy get back to health," he pointed out.
Merchants using PayMaya's cashless payment solutions include Megaworld, McDonald's Philippines, Jollibee Foods Corporation, Goldilocks, Unilever, Petron, Shell, Robinsons Malls, SM Supermalls, Smart Communications, Angkas, and Food Panda, among others.
PayMaya is providing up to P60 million worth of support through cashless payment tools, mentoring, extra income, and incentives as part of its "Sulong Negosyo" campaign.
Through the initiative, PayMaya is helping micro-, small-, and medium-sized enterprises quickly migrate their businesses to digital and provide cashless payments as a way to pivot and recover from the current crisis.
To help promote the daily use of cashless payments among Filipinos, PayMaya has been incentivizing its account holders in the form of cashback that they can instantly receive after paying using their accounts.
These include paying using PayMaya QR or Pay with PayMaya online, as well as bills payments, mobile prepaid load purchases, and gaming PIN top-ups, among others.