SEC taps PayMaya for digital payments

Published November 30, 2020, 5:00 AM

by Emmie V. Abadilla

Filipino businessmen can soon pay cashless for their Securities and Exchange Commission (SEC) registration, business licenses, fines, penalties, seminars and trainings, via the commission’s  Paymaya-powered online portal.

The SEC will integrate its online portal with the PayMaya Checkout payment gateway, enabling acceptance of any VISA, Mastercard, and JCB credit, debit and prepaid card, as well as PayMaya.            This is in cooperation with the Bureau of the Treasury (BTr) and Land Bank of the Philippines.

 “The addition of PayMaya’s payment solutions provides a great push in fulfilling our mandate as an enabler of the Philippine corporate sector and the capital market,” said SEC Commissioner Kelvin Lester K. Lee.

 “This is but one of the initiatives of the SEC to improve its services to provide a competitive and secure environment for easy company registration, efficient capital formation, and broad investor participation,” he added.

The SEC has continued to strengthen its online services to serve more enterprises amid the COVID-19 pandemic by using its online portal to offer services such as company registration and monitoring, and processing of requests for corporate documents.

“We’re happy to provide the SEC with the best-in-class cashless solutions to  improve ease of doing business,” PayMaya Founder and CEO Orlando B. Vea commented.  

 “Landbank welcomes this collaboration and will ensure the efficient settlement and remittance of SEC fees and other payment,” noted President and CEO Cecilia C. Borromeo.

Businesses can now also transact with other government agencies using PayMaya as the latter has partnered with the likes of the Bureau of Internal Revenue, the Department of Trade and Industry, the Bureau of Customs, PAG-IBIG Fund, the Social Security System, and the Intellectual Property Office of the Philippines, among others, for end-to-end business-to-government cashless payments acceptance via cards and e-Wallets. 

To date, PayMaya has enabled over 60 government units in the national and local levels with cashless payment acceptance and disbursement solutions as part of the government’s overall digitalization efforts in response to the current public health situation and to promote the recovery of the economy.

 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 and “everyday” 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 the widest 57,000 Add Money touchpoints nationwide.  

           Its Smart Padala by PayMaya remittance agent 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.