SEC taps PayMaya for digital payments of fees

ABS-CBN News

Posted at Nov 30 2020 06:00 AM

SEC taps PayMaya for digital payments of fees 1

MANILA - The Securities and Exchange Commission has tapped PayMaya for its digital payment services, the e-wallet company said Monday. 

Filipino businesses can soon enjoy more convenient cashless options when paying for online services fees at the SEC online portal, PayMaya said. 

"In cooperation with the Bureau of the Treasury (BTr) and Land Bank of the Philippines, the SEC will integrate in its online portal with the PayMaya Checkout payment gateway, enabling acceptance of any VISA, Mastercard, and JCB credit, debit and prepaid card, as well as PayMaya," the company said in as statement.

This will allow the SEC to process cashless payments for company registration, as well as other fees for business license, fines, penalties, seminars and trainings, among others. 

“The addition of PayMaya's payment solutions provides a great push in fulfilling our mandate as an enabler of the Philippine corporate sector and the capital market,” SEC Commissioner Kelvin Lester K. Lee said.

“For many enterprises, cashless is fast becoming the default preference for transactions so this will be a very welcome development for them. We are excited to work with the SEC for this citizen-friendly initiative," PayMaya Founder and CEO Orlando Vea said. 

Other government agencies that use PayMay are the Bureau of Internal Revenue, the Department of Trade and Industry, the Bureau of Customs, PAG-IBIG Fund, the Social Security System, and the Intellectual Property Office of the Philippines. 

PayMaya said it has enabled over 60 government units in the national and local levels with cashless payments.

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