Freeman Cebu Business

PayMaya hits 38 million registered subscribers

Ehda M. Dagooc - The Freeman

CEBU, Philippines —  Mobile e-wallet service platform PayMaya Philippines hits 38 million registered subscribers covering more than half of the adult population in the Philippines.

In a recently conclauded first half 2021 briefing, PayMaya founder and chief executive officer (CEO) Orlando Vea reported that as of June 2021 PayMaya logged 38 million registered users under its consumer platforms.

According to Vea, PayMaya continues to build the most comprehensive digital financial services platform in the country through its consumer app, enterprise solutions, and agent network.

Most recently, the Bangko Sentral ng Pilipinas (BSP) recognized PayMaya as an Outstanding Partners for Financial Inclusion in 2021. As of end-June 2021, it counts or more than half of the adult population in the Philippines.

“PayMaya is unlocking Filipinos' digital life with superior features and "everyday" use cases for its e-wallet,” he said.

Filipinos can cash in at over 66,000 touchpoints, which PayMaya claimed the most number for any e-wallet. It has partnered with over 600 active billers.

Through the PayMaya Mall, it offers the deals from over 360 stores, the most in-app shopping merchants for an e-wallet. Users can also enjoy a better Send Money experience with custom themes as well as real-time transaction history.

Early this year, PayMaya introduced PayMaya Protect for health coverage with insurance partners, starting with COVID-19 and personal accidents, and Mobile Protect for mobile device accidental damage coverage.

To close the loop for digital transactions, PayMaya is equipping businesses of all sizes, especially MSMEs, with inclusive payment solutions so they can accept cashless payments from anyone, whether online or in-store. Today, it is the largest non-bank payments acquirer, unlocking growth in "everyday" transactions for enterprises in the New Normal and enabling the government with digital payments acceptance and disbursements for public services delivery.

To bridge the unbanked and underserved to digital, it has transformed its Smart Padala agent network to offer expanded financial services such as bills payment, cash in, and cash out, on top of remittances. 

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