PayMaya launches Negosyo app for MSMEs

MANILA, Philippines — PayMaya, the digital financial services arm of PLDT’s Voyager Innovations, has launched its latest mobile payment innovation which allows merchants to easily and quickly receive QR and online payments from their customers.

The new PayMaya Negosyo app will enable micro, small, and medium enterprises (MSMEs) to easily accept QR and other forms of digital payments using their smartphones and even if they don’t have an e-commerce website.

“As more consumers begin to prefer shopping online and paying using contactless methods, PayMaya Negosyo will give our MSMEs the easiest and fastest way to accept digital payments from across a variety of sources–all they need now is their smartphone and a valid ID,” PayMaya president Shailesh Baidwan said.

Through the Negosyo app, PayMaya said merchants would now have the fastest way to accept contactless payments from customers, whether they are PayMaya users or account holders of other banks and e-wallet providers.

PayMaya said interested merchants only need to sign up through the app using their mobile number, upload one valid government ID as well as a video selfie for liveliness check, and wait 24 to 48 hours for their application to be reviewed and approved so they can start accepting digital payments right away.

Once the payments are received in the merchant’s PayMaya Negosyo wallet, they can then transfer these amounts to their respective bank accounts also via InstaPay.

Compared with PayMaya consumer accounts that just have a P100,000 account limit for upgraded users, the Negosyo app users have a monthly limit of up to P250,000.

“Given the effects of the COVID-19 pandemic across the world, physical distancing and online purchases will become part of the norm for everyone in the next several months – and merchants can easily adapt to this new situation by going cashless for their payments,” PayMaya said.

PayMaya is the only end-to-end digital payments ecosystem enabler in the country with platforms and services that cuts across consumers, merchants, and government.

Aside from providing the payments acceptance for the largest e-commerce, food, retail and gas merchants in the country, PayMaya is enabling national and social services agencies as well as local government units with digital payments and disbursement services.