PAYMAYA Philippines, Inc. has partnered with a cash transaction company to offer its digital payment services nationwide.
In a statement, PayMaya said Pera Hub’s more than 3,000 branches nationwide would serve as touchpoints for more than 30,000 Smart Padala outlets where PayMaya services are also available.
“Our partnership with Pera Hub allows us to offer such critical lifeline to even more Filipinos nationwide, so they can continue to have broad access to financial services whether it’s sending remittances or adding money to their PayMaya accounts,” PayMaya President Shailesh Baidwan said in the e-mailed statement.
PayMaya, a unit of Voyager Innovations, Inc. which is a PLDT, Inc. subsidiary, also seeks to lead the country’s transport chain to full digitization through its end-to-end payment platforms.
The company has partnered with UBE Express. and several taxi and ride-hailing services for e-payment.
PayMaya has signed an e-payment deal with the Land Transportation Office and Treasury bureau for motor vehicle registrations and renewals.
In April, PLDT, Inc. said the stakeholders of Voyager had committed up to $120 million in fresh capital to fuel its expansion through its financial technology arm PayMaya.
The fresh funding would let PayMaya fast-track digital and financial inclusion for many Filipinos, PLDT said.
PLDT, China’s Tencent Holdings Ltd., US-based Kohlberg Kravis Roberts & Co., International Finance Corp., and IFC Emerging Asia Fund had signed deals for the new funding.
Voyager’s portfolio, aside from PayMaya, includes PLDT’s mobile remittance brand Smart Padala and financial technology firm FINTQnologies Corp. whose products include digital banking, aid and finance, and lending platforms.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin
