CEBU, Philippines — Digital financial services leader PayMaya is tapping the growing 2.2 million Filipinos working abroad to directly pay their government dues and utility bills.
“Our vision of Digital Finance for All Filipinos includes our hardworking countrymen abroad, our modern-day heroes,” said Paymaya founder and chief operating officer (CEO) Orlando Vea.
According to Vea, with this move, Filipinos who are now based and working abroad can manage their financial obligations back home, “wherever they are,” by downloading PayMaya e-wallet app, using their Philippine mobile SIM on roaming.
The company officially launched this service on Labor Day, May 1, 2021.
Aside from paying dues and bills, OFWs can also directly send their remittances to loved ones in the Philippines through the app.
According to 2020 data released by the Philippine Statistics Authority, as estimated of 2.2 million Filipinos are currently working abroad, with millions more who have already migrated and can still benefit from a strong fintech platform that can help them and their families who are still in the Philippines.
Paying for government fees such as taxes and social insurance contributions while abroad is among the top concerns of Filipinos overseas. For example, those who are currently abroad can easily use their PayMaya accounts to conveniently pay their individual Social Security System (SSS) contributions using the SSS mobile app, as well as nominate their PayMaya accounts to receive loan proceeds and other disbursements from the agency.
“Since 2019, this partnership between the Social Security System (SSS) and PayMaya has opened doors for many overseas-based Filipinos to easily and speedily remit contributions and receive disbursements to the pension fund--made all the more crucial during these trying times when mobility is limited to help curb the spread of COVID-19. This new offering from PayMaya will allow even more Filipinos to derive benefits and take advantage of the services offered by SSS, from practically anywhere in the world,” said SSS president and CEO Autora C. Ignacio.
Aside from SSS, PayMaya users abroad can also transact with other government agencies such as the Pag-IBIG Fund, Bureau of Internal Revenue, the Department of Foreign Affairs, and over 60 other agencies and local government units that accept PayMaya as a payment option.
PayMaya recently piloted the service in Singapore with positive feedback from Filipinos in the city-state, especially since many lack credit cards and other financial instruments that allow them to easily conduct financial transaction back home.
On top of government payments, overseas Filipinos can also pay their or their families’ bills through the more than 500 active billers available in the PayMaya app. OFWs can also send money to other PayMaya users in the Philippines or to any of the more than 37,000 Smart Padala centers nationwide.