PayMaya leads in the nationwide roll out of QR Ph for retail payments
CITY OF SAN FERNANDO---With over 200,000 retail locations enabled nationwide, PayMaya is now the leading partner of merchants of all sizes to accept QR payments using the national QR st andar d.
PayMaya has expanded its base of merchants--from MSMEs, to large companies, and government agencies-equipped with PayMaya QR Ph for both their online and on-ground touchpoints. QR Ph person-to-merchant was first introduced in April this year and was fully launched by the central bank last October.
To spur greater adoption, PayMaya also recently enabled its PayMaya e-wallet customers to scan-to-pay in any QR Ph-powered establishments powered by other participating banks and e-wallets.
"We are in full swing with the roll of the QR Ph initiative -- from allowing our merchant partners to accept QR payments from other QR Ph participating banks and e-wallets to allowing our PayMaya e-wallet users to scan-to-pay at all QR Ph merchants and not just at PayMaya QR merchants. We are excited to further grow and accelerate digital retail payments in the country in line with the BSP's vision of building a stronger payment ecosystem across businesses, consumers, and government," said PayMaya President Shailesh Baidwan
Preference for QR payments is gaining traction, with more consumers going cashless and contactless for convenience and safety reasons. According to the BSP, QR transaction volume and value are posting an average quarterly growth of 110% and 229%, respectively, since QR person-to-person (P2P) transactions were launched in November 2019.
To further boost QR payments in the country, PayMaya has accelerated the rollout of the interoperable QR code to more businesses and government agencies. The response of enterprises to the initiative has been positive as it has given them the flexibility to accept QR payments regardless of their customers' bank or ewallet accounts.
"Our customers are benefitting from QR Ph. They can now easily and conveniently pay their dine-in, take-out, and delivery transactions using their preferred bank or e-wallet apps just by scanning our PayMaya QR ," said Pizza Hut Head of Marketing Raymund Nobleza.
For his part, Unioil Vice President for Retail Ed Pasion concurs: "With QR Ph, it is now easy for our cashiers in our gasoline stations to accept transactions. We only need one QR code in our small cashier booths. Even on the settlement side, payments to our franchisees and dealers will be much faster and streamlined because having one QR code to accept payments from different financial institutions is now easier in reconciling our daily t r ansact i on s."
Meanwhile, leading pharmacy chain Mercury Drug sees QR Ph as one of the safest and more efficient ways for consumers to transact with their frontliners.
"QR payment option in our branches offers greater convenience for our Sukis. It helps make customer transactions faster. QR payment option also encourages digital transactions enhancing our safety measures for our customers especially at this time,” said Mercury Drug Assistant to President Steven Que Azcona.
Government leaders also see QR Ph as an innovation that will help them provide convenience for Filipinos and efficiency for their operat i ons.
"QR Ph is another initiative that supports ease of doing business with the government. With this, our members can now easily pay for their contributions and loans using their preferred bank or e-wallet. And on our side, we just need to have the PayMaya QR to accept payments," said SSS President and CEO Aurora Ignacio.
For his part, Pag-IBIG Fund CEO Acmad Rizaldy Moti said: "QR Ph is a welcome development for us as we strive to provide better public service. Because it promotes interoperability, our members can easily scan-to-pay our PayMaya QR payment option using any QR Ph participating bank or e-wallet app."
The rollout of QR Ph is part of PayMaya's thrust in promoting greater financial inclusion by enabling more Filipino businesses and consumers to adopt digital payments.
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 gover nment .
It provides more than 41 million Filipinos access to financial services through its consumer platforms. Customers can conveniently pay, add money, cash out or remit through its over 380,000 digital touchpoints nationwide. Its Smart Padala by PayMaya network of over 60,000 par t ner agen t 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 ser vi ces, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.
( PR)