PayMaya says expands cash-in touchpoints across Philippines

ABS-CBN News

Posted at Sep 13 2021 02:21 PM

PayMaya app on a smartphone. Handout photo
PayMaya app on a smartphone. Handout photo

MANILA - PLDT-backed fintech PayMaya said it has expanded its cash-in channels to over 90,000 touchpoints nationwide to allow users of the app to easily fund their accounts.

Sixty percent of these cash-in channels offer the service for free, the company said. These include BPI online banking via linked account, Ministop, and Smart Padala.

Paymaya said it has also partnered with: 7-Eleven, Robinsons Supermarket, Robinsons Department Store, SM Hypermarket, SM Supermarket, The SM Store, Landers, Super8, Southstar Drug, Bayad Center, Easymart, EC Pay, LBC Express, No Brand, Palawan Pawnshop, Posible, RD Pawnshop, Savemore, Shopwise, The Marketplace, among others. 

“These establishments also allow PayMaya users to cash in to their accounts for free for a monthly aggregate amount of up to P10,000,” the company said. 

The fintech firm has said that the number of users of its app expanded to 38 million in just a year and a half. 

Earlier this year PayMaya also launched its own virtual mall and announced a payments service through chat apps.

Last July, Voyager Innovations, the operator of PayMaya, said it secured $167 million for expansion into financial services, digital banking. 

Share prices of PLDT and its rival Globe Telecom have surged in recent weeks, with analysts crediting the growth of the telcos’ fintech units for the investor interest.

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