PayMaya, PLDT Enterprise help co-ops go cashless
THE Cooperative Union of Batangas (CUB) tapped digital payments services leader PayMaya, in cooperation with PLDT Enterprise, to provide a safer, more seamless way to disburse salaries, loans and dividends to its members.
The cooperative utilizes the PayMaya PayOut solution to conveniently disburse in real-time loans and dividends to members as well as salaries to employees via PayMaya accounts.
They can also use the PayMaya platform to process the transfer request of their members to move funds from their savings accounts and their PayMaya accounts, which will allow them to perform other financial transactions such as paying for goods online and in store, paying bills, buying load and sending money, among others.
CUB is the biggest cooperative association in Batangas with 300 members from various cooperatives, including Balayan Municipal Employees Multi-purpose Cooperative, Balayan National Highschool Multi- purpose Cooperative, Calaca Public Market Vendors and Community Credit Cooperative, Inicbulan Waterworks Multipurpose Cooperative, Lobo AgroIndustrial Development Multipurpose Cooperative, Lodlod
Multipurpose Cooperative, Malalim Multipurpose Cooperative, Ocvas Multipurpose Cooperative, Saint Raphael Archangel Parish Multipurpose Cooperative, San Jose Workers Multipurpose Cooperative, Soro Soro Ibaba Development Cooperative and United labor Service Cooperative.
PayMaya’s PayOut disbursement platform is the same mechanism currently being used by select government agencies and local government units in delivering digital financial aid to constituents such as the Department of Social Welfare and Development and the Social Security System as well as the cities of Manila, Pasig, Caloocan, Mandaluyong and Quezon City.