PayMaya makes remittances and government payments easier for OFWs

MANILA, Philippines — For most Overseas Filipino Workers (OFWs), being able to help out their family in the Philippines is a driving reason to work abroad.

Despite the COVID-19 crisis, our hardworking kababayans still manage to send money back home, with personal remittances up by 5.1% year on year last April, according to data from the Bangko Sentral ng Pilipinas (BSP).   

Aiko Pascual, a duty manager at a five-star hotel in Singapore, is among these modern-day heroes.   

The 31-year old left the country right after graduating from college in search of greener pastures. For the past 10 years, Aiko has been sending money to her parents in Las Piñas as a way of giving back and helping out with expenses.  

She knows the challenges of traditional money remittance services, which is why Aiko now utilizes the PayMaya e-wallet app for more convenient transactions.  

PayMaya made its e-wallet services available to Overseas Filipinos (OFs) like Aiko last May, in time for the Labor Day celebration, bringing cashless convenience to Filipinos abroad.   

With this, Filipinos overseas can use their Philippine roaming mobile number to register for a PayMaya account. By using the popular e-wallet, they can now send money to the PayMaya accounts of their loved ones for free. They can also send money to Philippine bank accounts at very affordable rates via Instapay. 

Moreover, they can pay directly for their own contributions to various funds like the Social Security System (SSS) and PAG-IBIG. They can also pay fees and taxes to government agencies such as the Department of Foreign Affairs (DFA), National Bureau of Investigation (NBI), Professional Regulation Commission (PRC), and Philippine Statistics Authority (PSA), among many others. 

On top of these, they can opt to settle utility bills directly via the PayMaya app with its over 550 billers, the most extensive list for any e-wallet. They can also use PayMaya to shop online and buy telco load for themselves or gift them to their families.  

When PayMaya piloted the service in Singapore early this year, Aiko was among our kababayans who immediately saw how the service could bring value and enrich their connections back home.   

“This is really more convenient for us. Before, we had to go to remittance centers here in Singapore in order to send money to our families,” she said.   

“The problem is we can only go to the remittance center kapag days off. It’s difficult kasi working in the hotel industry, we do shift work five days a week, sometimes seven. There are times na talagang hindi namin aabutan yung store hours ng remittance center. Sarado na pagdating namin.”  

(“The problem is we can only go to the remittance center during our days off. It’s difficult because working in the hotel industry, we do shift work for five days a week, sometimes seven. There are times when we don’t make it in time for the store hours of the remittance centers, and it’s already closed when we get there.”) 

On the chance that she does make it in time, Aiko adds that she still had to queue, fill out forms, show her ID, and, most importantly, make sure that she carried enough money to be able to pay in cash.  

Traditional remittance services also take 2-3 days to be processed – a pain point for those who need funds urgently.   

“Before, we constantly need to check with our families once na nagpadala na kami if they received the money we sent,” said Aiko. “Pero ngayon, it’s hassle-free. I can send money to my parents 24/7. Sobrang bilis at sobrang easy. Ilang clicks lang, settled na,” she added.  

(“Before, we constantly need to check with our families if they received the money once we’re able to send it,” said Aiko. “But now, it’s hassle-free. I can send money to my parents 24/7. It’s quick and easy. With just a few clicks, I’m already able to settle the transaction,” she added.) 

Fund transfers via PayMaya may be received in three ways – through the recipient’s PayMaya account, via bank account through Instapay, or for pick-up at any of the 40,000 Smart Padala agents present in 92% of the cities and municipalities in the Philippines - ensuring accessibility both online and offline.   

In addition to streamlining money remittances, PayMaya also empowers OFWs with the ability to remotely pay over 550 Philippine-based billers, as well as government agencies such as SSS, PAG-IBIG Fund, the Bureau of Internal Revenue, and many others using their e-wallet.   

“I pay my SSS and PAG-IBIG voluntarily using the PayMaya app. I no longer need to ask my parents to do this for me. Kaya this is very helpful for them, and for me too,” said Aiko.  

Financial aid, along with proceeds from government loan applications, can also be received in the PayMaya account of OFWs – making it easier for unbanked Filipinos to receive help from the government in their time of need.   

According to data from the Department of Foreign Affairs (DFA) in 2019, there are around 10 million Filipinos living abroad, with temporary migrants or OFWs accounting for 3 million.  

“Our mission is financial inclusion for all Filipinos - including our kababayans, like Aiko. We are committed to empowering them with relevant digital financial services that will help make their lives easier and better - whether it's sending funds back home, paying bills for their families, or even receiving cash assistance from the government when they need it most,” said Orlando Vea, founder and chief executive officer of PayMaya.   

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

It provides more than 38 million Filipinos with access to financial services through its consumer platforms. Customers can conveniently pay, add money, cash out or remit through its over 250,000 digital touchpoints nationwide.

Its Smart Padala by PayMaya network of over 40,000 partner agent touchpoints serves as last-mile digital financial hubs in communities, providing the unbanked and underserved access to digital services.

Through its enterprise business, it is the largest digital payments processor for key industries in the country, including "every day" merchants such as the largest retail, food, gas, and eCommerce merchants, as well as government agencies and units.    

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