July 31, 2020

PH Schools Go Cashless in the 'New Normal' with the Help of PayMaya

As schools embrace alternative learning methods this year, PayMaya is empowering over 40 schools nationwide with cashless payment solutions online and in-school, providing students a safer and more convenient way to pay for enrollment fees and other educational expenses.

Major learning institutions such as the University of the Philippines (UP), Ateneo De Davao University (ADDU), La Salle Green Hills, Don Bosco Technical Institute of Makati Inc. (DBTI-MAKATI), Nord Anglia International School Manila (NAIS Manila), Malayan Colleges Mindanao (MCM), University of Immaculate Conception (UIC), among others are beginning to adopt PayMaya’s end-to-end digital payment solutions such as the PayMaya’s Online payment gateway for their online channels and the One by PayMaya Point of Sale (POS) device for school cashiers.

“As we prepare to open another school year, ensuring that health and safety measures are implemented across learning institutions is important to protect both parents and students. By implementing PayMaya's suite of cashless payment solutions on their online and physical channels, our school partners are adapting to provide continuous quality education to students in a safe and convenient way even amid the current crisis,” PayMaya President Shailesh Baidwan said.

As schools transition to the ‘New Normal’ in education, UP, ADDU, La Salle Green Hills, DBTI-MAKATI, NAIS Manila, MCM, UIC, are among the schools enabling their online student portals with PayMaya’s online payment gateway, which allows them to easily process tuition and other payments using debit and credit cards and e-Wallets such as PayMaya.

These institutions are also equipping their school’s cashiers with the One by PayMaya POS device to allow safer and more seamless payments by using the scan-to-pay via PayMaya QR feature or by tapping or dipping using their credit, debit, and prepaid cards.

These efforts are in response to the Department of Education’s directive to implement blended learning that utilizes both online and in-person modalities for education, where students are encouraged to utilize online classes, printed modules, and educational TV and radio broadcast as main learning channels this school year.

PayMaya’s cashless payment solutions play a critical role in the schools' shift to blended learning while at the same time helping keep school personnel safe by eliminating risks of cash handling in light of the current public health situation.

Aside from these digital payment innovations, PayMaya has previously rolled out cashless payment ecosystems starting with the PayMaya-powered student ID card in schools including University of the Philippines, La Salle Green Hills, LPU-Batangas, and STI, among many others. Students can easily link the PayMaya-powered student ID card to their PayMaya account and maximize for payment transactions even outside the campus at Bancnet-powered payment terminals and ATMs nationwide.

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines, with platforms and services that cut across consumers, merchants, and government. Aside from providing payments acceptance for the largest e-Commerce, food, retail and gas merchants in the Philippines, PayMaya enables national and social services agencies, as well as local government units, with digital payments and disbursement services.

Through its app and wallet, PayMaya  provides millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined. Its Smart Padala by PayMaya network of over 30,000 partner touchpoints nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services. To know more about PayMaya's products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.

July 16, 2020

Filipinos can now invest in Gov't Retail Treasury Bonds using PayMaya

Individual investors can avail of RTBs in the Bonds.Ph app using their PayMaya accounts

Digital financial services leader PayMaya has extended its financial inclusion mission into the retail investing space with the government's upcoming Retail Treasury Bonds offering.

Partnering with Bonds.Ph, a new online investment platform powered by the Philippine Digital Asset Exchange (PDAX), it will now allow small individual investors to avail of the government's next Retail Treasury Bond (RTB) offering using their PayMaya accounts.

To spread investment opportunities among the population, the Bureau of the Treasury has allowed the Bonds.Ph app to offer its newly-issued five-year bonds due 2025 to individual investors. Prospective investors can invest in amounts as low as P5,000 up to an aggregate of P500,000.

PayMaya account holders can easily add funds to their Bonds.ph accounts using their PayMaya-registered mobile numbers, thereby democratizing access to government RTBs even to those who do not yet have a bank account.

The Bureau of the Treasury targets to raise P30 billion from its five-year RTBs to be offered from July 16 to August 7 and to be settled on August 12. 

“We have always envisioned to provide Filipinos with affordable and secure investment instruments where they can invest and at the same time aid the government in raising funds especially at this time. So we opened up our next Retail Treasury Bond offering to an online platform like Bonds.Ph that allows investors to use e-wallets like PayMaya to invest in RTBs,” said National Treasurer Rosalia de Leon.

“Opening up various online channels that allows Filipinos to invest will ensure a wider participation from individual investors, particularly for this offering,” she added.

For his part, PayMaya Founder and CEO Orlando B. Vea said: “This is a new exciting path that the government is taking towards financial inclusion and we are delighted to be chosen as an enabling technology partner."

PayMaya account holders simply need to download the Bonds.Ph app from the App Store for iOS users and Google Play Store for Android Users, register and verify their accounts, and easily cash in using their PayMaya-registered mobile numbers.

To add funds to your Bonds.Ph account using PayMaya, simply follow these steps:
  1. Go to the Cash In section of the app and select Pay with PayMaya. A minimal fee of P5.00 per transaction will apply.
  2. Choose the amount you want to cash in, then complete the payment process after receiving the payment details in your email.
  3. Once your account has been funded, choose the bond offering you want to invest in, review the transaction details, and click "Buy"
  4. The subscription will have an “Awaiting Subscription” status until the final allocation is completed. All orders are considered final upon placement and can no longer be cancelled.
To check the status of your investment, click the "My Orders" button in the Bonds.Ph app. An email will also be sent to you for the notice of successful purchase of the Bond.

Once the investment has matured, you may also choose to withdraw the proceeds from your Bonds.Ph account straight to your PayMaya account. Simply choose PayMaya as the account where you will cash out your earnings. There is a minimal fee of P5 for every cash out transaction made through your PayMaya account.

To start investing in government RTBs through the Bonds.Ph app even without a bank account, create a PayMaya account today. Simply download the app using this link https://official.paymaya.com/CAK1/425eb133 and register for an account using only your mobile number. 

To know more about how to fast-track the groundwork towards a more progressive and digital government, visit http://enterprise.paymaya.com or send an email to gov@paymaya.com for further details.  

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cut across consumers, merchants, and government. Aside from providing payments acceptance for the largest e-Commerce, food, retail and gas merchants in the Philippines, PayMaya enables national and social services agencies as well as local government units with digital payments and disbursement services.   

Through its app and wallet, PayMaya provides millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined. Its Smart Padala by PayMaya network of over 30,000 partner touchpoints nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services. To know more about PayMaya's products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.