Social media giant Facebook has partnered with the country’s major mobile wallet platforms, led by rivals PLDT Inc. and Globe Telecom, to provide payment solutions targeting the broad segment of society without bank accounts.
The partnership would be done through Facebook’s popular Messenger app, but so far, only those using Android devices can access the service.
PLDT unit PayMaya said in a statement Friday that the service would primarily allow those in the country to send money to friends, pay bills and buy mobile load and data using Facebook Messenger.
The Bangko Sentral ng Pilipinas estimated that around 86 percent of Filipino households do not have a deposit account.
“As one of the most popular messaging apps in the Philippines, Messenger offers a much easier way for people to create a new account for daily financial transactions,” PayMaya said.
“This integration with Messenger represents an exciting new way to reach the unbanked in the Philippines,” Albert Tinio, president and CEO of Globe’s GCash, said in a separate statement.
To use the service, customers need to search for the PayMayaOfficial or GCashOfficial services on Messenger on an Android device to start a transaction.
After this, a chatbot will guide the user on the available menu options. Users can also buy “discounted” prepaid load on their phones via Messenger.
New PayMaya users can also create their account using Messenger while those who already have the PayMaya app can link their wallet to Messenger.
Paolo Azzola, chief operating officer of PayMaya Philippines, said the partnership would allow a broader market to access certain financial services.