PayMaya says financial services now available to overseas Filipinos

ABS-CBN News

Posted at May 01 2021 04:15 PM

Citizens use their phones in Quezon City amid the modified enhanced community quarantine on August 16, 2020. Mark Demayo, ABS-CBN News/file


MANILA - Overseas Filipinos can now use their Philippine mobile SIM on roaming to register for PayMaya accounts enabling them to pay for government dues or utility bills even when abroad, the mobile wallet operator said.

In a statement, PayMaya said it has activated its financial services for overseas Filipinos "in time for Labor Day."

“Our vision of 'Digital Finance for All Filipinos' includes our hardworking countrymen abroad, our modern-day heroes,” said PayMaya Founder and CEO Orlando Vea.

"Having a PayMaya account wherever you are in the world can empower Filipinos overseas and help them stay connected with their loved ones in the Philippines," he added.

Government data showed that there are at least 2.2 million Filipinos living or working abroad in 2020, who are bound to benefit from the service, PayMaya said.

Government fees such as taxes as well as insurance contributions are among the concerns of Filipinos abroad. With PayMaya, overseas Filipinos can pay their Social Security System contribution as well as receive disbursements, it said.

Filipinos abroad can also use the platform to transact with PAG-Ibig Fund, Bureau of Internal Revenue, Department of Foreign Affairs and over 60 agencies and local government units that accept PayMaya as payment options, the mobile wallet said.

Over 500 billers are also on the platform, PayMaya said. Remittances are also possible via the mobile app with over 37,000 Smart Padala centers across the country, it added.

The services were piloted in Singapore, it said. 

Singapore is known as one of the top countries in terms of cash remittances coursed through banks, based on data by the Bangko Sentral ng Pilipinas (BSP). 

The BSP is pushing for cashless payments and the digitization of the financial system which will be key to attaining a post-pandemic digitized economy

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