MANILA—Students of University of Philippines in Diliman will get new ID cards that can also function as digital wallets that can be used to pay for tuition, as well as goods and services inside the campus.
Digital payments firm Paymaya has partnered with UP Diliman, to provide identification cards that have radio frequency ID (RFID) and near-field communication (NFC) features.
The new ID cards, which are expected to start being deployed in August, can also function as Paymaya digital wallets, said Kenneth Palacios, head of consumer business for Paymaya.
Palacios said the new cards were first conceived as a meal card for students on scholarship.
Then the project evolved into a new ID, which students can use to access the university's libraries, receive allowances, and pay for tuition, dormitory and other school fees.
Paymaya is also deploying terminals throughout the Diliman campus, allowing students to pay at sari-sari stores, and eventually even Ikot jeep rides and snacks at Mang Larry's Isawan.
"In UP, the goal is, 'How can we use the cards as a way to espouse innovation within the campus?' " Palacios said in an interview with ANC's "Future Perfect Tech Shorts."
Paymaya is also expanding to the Katipunan area and the UP Technohub.
Palacios, however, said that the new ID cards will not have the Paymaya feature automatically activated. Students can choose to activate the card if they wish.
About 10 other universities and schools already use Paymaya's system, but its partnership with UP is the largest of its kind to date, Palacios said.
Paymaya was launched in 2015 by PLDT'S Voyager Innovations. Until recently, Voyager was the fintech arm of PLDT, but more than half of Voyager is now owned by China's Tencent Holdings, the International Finance Corp., and US private equity firm KKR.
Paymaya is aiming to become the digital wallet of choice for 40 million Filipinos within the next three years.