PayMaya says users doubled to 38 million in 1.5 years

ABS-CBN News

Posted at Jul 06 2021 07:08 PM

MANILA – PayMaya doubled its users in the past 18 months to 38 million as it continues to expand its partnership with various government agencies and businesses, the company said on Tuesday.

PayMaya has recently launched its partnership with the local government of Antipolo City to allow the use of digital payments at its various offices as well as in public transport vehicles and public markets.

The company said that as of June, it's already partnered with over 70 agencies from both the national and local government levels.

Raymund Villanueva, director and head of enterprise growth at PayMaya, said they want to expand further in more towns and cities especially as they see 25 percent of their total transactions already happening outside Metro Manila.

"To be honest, the dream scenario for PayMaya and other e-wallets really is to digitize a whole ecosystem, a whole LGU from the very start whether its for payment acceptance or disbursement," said.

Aside from PayMaya, other fintech companies like GCash have also been aggressively expanding their reach, as the demand for digital services surges due to mobility restrictions brought about by the COVID-19 pandemic.

These are all seen helping the Bangko Sentral ng Pilipinas reach its target of having 70 percent of the Filipino adult population own a financial account by 2023.

- Report from Bruce Rodriguez, ABS-CBN News

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