PayMaya Emerges as the First Fintech to Integrate the QR Ph Payment Optionby Fintech News Philippines May 6, 2021
PayMaya, a mobile wallet under the purview of PLDT, has become the first fintech company to adopt QR Ph for merchants that was launched by the Bangko Sentral ng Pilipinas (BSP) in cooperation with BancNet and the Philippine Payments Management.
Launched by the BSP on April 30, QR Ph enables businesses to accept payments from customers of other banks and financial institutions for various transactions.
Merchants all over the country will soon be able to easily accept QR payments from other participating banks in addition to the PayMaya e-wallet.
Other participating financial institutions for the initiative include All Bank, Asia United Bank, China Bank, RCBC, Robinsons Bank, and Union Bank.
Through its app and wallet, PayMaya provides over 28 million Filipinos with access to financial services. Customers can conveniently pay, add money, cash out or remit through its over 200,000 digital touchpoints nationwide.
“The exponential shift to digital has seen many consumers and businesses go online to avail of essential, day-to-day products and services. Our online payment gateway solutions are making it easier for businesses to swiftly ride this wave.
Combined with our end-to-end suite of payment solutions, including payment acquiring and face-to-face acceptance, we hope to continuously propel this shift and support the growth of the digital economy,”
said Shailesh Baidwan, President at PayMaya.