PayMaya expands reach, grows transactions from MSMEs in the countryside

With more consumers going online and using digital payments, MSMEs in various regions outside Metro Manila are quickly adopting digital payment technologies. Powering this transformation is PayMaya’s solutions, which have been a game-changer for small businesses in the provinces as they go digital and cashless amid the COVID-19 pandemic.  

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According to PayMaya’s enterprise data, the volume of transactions processed by the company from MSMEs in regional areas more than quadrupled in the second quarter this year compared to the same period last year. PayMaya’s most extensive solutions enable these MSMEs to accept the widest type of digital payments – be it via QR or number linked to a PayMaya wallet, bank transfers, card payments, and other e-wallet payments.  

“The demand for digital payment solutions continues to grow, and we’re very excited to see more MSMEs outside Metro Manila use PayMaya solutions in their businesses. Going digital and cashless not only expands their market reach but also provides them with a safer and more efficient way to do business,” said Shailesh Baidwan, PayMaya President.   

“Today, these MSMEs can enjoy best-in-class solutions at par with bigger merchants, and they can be as equally competitive as their peers in Metro Manila,” Baidwan added.  

Promoting digital payments to MSMEs in the regions  

To equip more MSMEs in the regions with digital payments, PayMaya has joined hands anew with the Department of Trade and Industry (DTI) for the weekly CTRL + BIZ: Reboot Now! Regional Zoom Shows that started last June 30.  

“We thank PayMaya for being our strong partner in enabling MSMEs with know-how on digital payments. Going digital and cashless will help MSMEs grow their businesses and this is critical to our economic recovery,”said DTI Assistant Secretary Jean Pacheco. 

Through this webinar series, DTI seeks to help entrepreneurs in the regions leverage technology and e-commerce to grow their business and continue operating in the New Normal. For these sessions, PayMaya shares best practices with business owners on maximizing digital payment technologies to help them grow their businesses.   

PayMaya has been a strong partner of DTI for various national MSME programs and campaigns. PayMaya’s Sulong Negosyo Program is among these programs, which provides ready-business-in-a-box tools such as the PayMaya Negosyo app and co-marketing opportunities to eligible MSMEs. The program aims to help MSMEs accelerate their e-commerce adoption with the help of digital payment technologies.  

Business-in-a-box payment solutions for MSMEs 

Based on the 2019 List of Establishments of the Philippine Statistics Authority (PSA), around 80% of the country’s one million formal MSMEs are from outside Metro Manila. Through its extensive on-ground presence in the countryside, PayMaya is helping fast-track the digital transformation of these MSMEs with business-in-a-box solutions that can readily be used to accept any form of digital payments for their online commerce or physical stores.   

In 2020, PayMaya launched the PayMaya Negosyo app that enables MSMEs to easily accept QR, bank transfer, and e-wallet payments through their mobile phones. On top of online payments acceptance, PayMaya Negosyo also provides additional income opportunities for small business owners, allowing them to become digital community hubs for bills payment and the selling of digital goods such as telco load and gaming pins, among others.  

Moreover, MSMEs using chat apps such as Viber and Facebook Messenger and social media channels such as Instagram and Facebook can use PayMaya Digital Invoice to send payment links to customers and accept payments via PayMaya QR, mobile number linked to a PayMaya account, or any credit, debit, or prepaid card.  

For MSMEs with their own websites, PayMaya has the PayMaya Checkout that allows them to accept credit, debit, prepaid cards, and e-wallet payments. Meanwhile, MSMEs with physical stores are equipped with PayMaya One or PayMaya One Lite terminals and QR acceptance.  

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines, with platforms and services that cut across consumers, merchants, communities, and government.     

It provides more than 38 million Filipinos access to financial services through its consumer platforms. Customers can conveniently pay, add money, cash out or remit through its over 300,000 digital touchpoints nationwide. Its Smart Padala by PayMaya network of over 55,000 partner agent touchpoints serves as last-mile digital financial hubs in communities, providing the unbanked and underserved access to digital services. Through its enterprise business, it is the largest digital payments processor for key industries in the country, including “every day” merchants such as the largest retail, food, gas, and eCommerce merchants, as well as government agencies and units.       To know more about PayMaya’s products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.