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Pag-IBIG taps PayMaya for payments

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THE HOME Development Mutual Fund (Pag-IBIG Fund) is tapping PayMaya Philippines, Inc. for its digital financial services.

The mobile wallet arm of PLDT, Inc. said in a statement over the weekend it has signed a partnership with the state-owned housing loan provider to allow digital and card payments on its online and on-ground platforms.

It said the agreement is in line with the government’s push for more convenient access to public services as it enables Pag-IBIG Fund members pay for their savings and loan repayments online.

“With this partnership, our members now have an even wider range of options whenever they need to transact with Pag-IBIG Fund… This is our way of bringing our services one convenient step closer to Pag-IBIG Fund members, wherever they may be,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said in the statement.

The partnership will allow Pag-IBIG Fund members transact using any Visa, Mastercard or JCB credit, debit or prepaid cards, or through their mobile numbers linked to a PayMaya account.

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Eventually, PayMaya will also provide Pag-IBIG Fund with point-of-sale devices in its branches, which will allow quick response payments on top of the existing card payment options.

“We are glad that government agencies like Pag-IBIG Fund are embracing digital payment technologies to help bring convenience to all Filipinos,” PayMaya Founder and Chief Executive Officer Orlando B. Vea said in the statement.

“We at PayMaya are proud to be the partner of Pag-IBIG in delivering more accessible public services, which is in line with our goal of digital and financial inclusion for the Philippines,” he added.

PayMaya is handled by PLDT’s digital arm Voyager Innovations, Inc., which is backed by China’s Tencent Holdings Ltd.; US-based Kohlberg Kravis Roberts & Co.; International Finance Corp. (IFC) and IFC Emerging Asia Fund.

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. — Denise A. Valdez

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