Local retail industry goes cashless with PayMaya
The march towards a cashless society is now moving at an accelerated pace, as local retail players are now providing consumers the power of choice as well as convenience with their adoption of digital payment technologies powered by PayMaya.
From shopping malls to convenience stores, from franchisee stalls to school and office canteens, consumers are going cashless using their PayMaya – be it their virtual card, physical card, and via PayMaya QR. With PayMaya QR, customers of PayMaya Preferred Partner establishments can now just simply open their PayMaya, scan a QR code, and pay for their purchase.
“The transition is happening not tomorrow, but today. The Philippines is going cashless primarily because the early adopters of digital payments are the country’s retail giants who have large bases of loyal customers. Their move certainly has profound ripple effects for the whole industry, and we are glad that PayMaya’s homegrown, customer-centric technologies are powering their transformation,” said Manuel V. Pangilinan, Chairman of PayMaya Philippines and Voyager Innovations.
Today, PayMaya QR is accepted in The SM Store and Mall Information Booths nationwide.
Earlier, through a partnership with Robinsons Retail Holdings, PayMaya QR launched at Robinsons Galleria. Merchants at Robinsons Galleria accepting payments via PayMaya QR now include Robinsons Department Store, Robinsons Supermarket, and stores under Robinsons Specialty Stores, Inc. (RSSI). Students, workers, and the general public can also do quick payments through PayMaya QR in select Ministop branches.
McDonald’s, Rose Pharmacy, and Army Navy will soon accept card payments and PayMaya QR
via PayMaya Business.
Merchants in food parks such as The Yard in Timog, Quezon City, Grub Garden in Manila, and Hole in One in Taguig are also now accepting PayMaya QR.
Most recently, PayMaya, together with PLDT Enterprise, signed collaboration agreements with the Philippine Franchise Association and the Association of Filipino Franchisers Inc., with the aim of getting their members on board cashless payments.
Consumers can also make payments via PayMaya QR in establishments such as Smart Stores; in communities starting with canteens in partner schools like STI, and commercial establishments in digital cities such as Muntinlupa and Malabon; and in popular merchants within SmartSpots in key cities such as Baguio, Cebu, and Davao.
“In the coming days, expect that PayMaya will bring in more retailers all over the country as we transition to a cashless society. Filipinos will benefit most from this movement as we make digital payments better than cash,” said Orlando B. Vea, President and CEO of PayMaya Philippines and Voyager Innovations.
Consumption to grow due to digital payments
Cashless spending is expected to grow dramatically over the next years as more Filipinos prefer to use their mobile phones as their wallet. Currently, about 26 in every 100 Filipinos aged 16 to 64 make purchases via a mobile device, and this trend is reflected in PayMaya’s growth.
With more consumers increasingly paying via their phones, the growth in consumption will be driven by how retail merchants effectively offer relevant discounts, benefits, and coupons to consumers.
Close to half of the 900,000 MSMEs are in wholesale and retail trade. Between 1998 and 2016, the retail trade sector has contributed an annual average of 12.6 percent to the Gross Domestic Product, highlighting that the country’s economy is buoyed by increasing consumer spending.
Making payments simpler for Filipinos
Technology is making digital payments better than cash, enabling consumers to make purchases anytime, with added perks such as rebates and promos. Digital payments also offer consumers more convenience as there is no more need to carry a large amount of cash and notification features allow for tracking of expenses.
With PayMaya QR technology, consumers can scan the QR code to directly pay merchants. Loading up their PayMaya accounts is easy, given the ubiquity of over 15,000 top-up facilities nationwide such as Robinsons Department Store Business Centers, SM Business Services, TouchPay kiosks, 7-Eleven, Expresspay, Palawan Pawnshops, Shopwise, Wellcome, 2Go outlets, Petron stations along NLEX, and Smart Padala centers down to sari-sari stores in grassroots communities, on top of Unionbank ATMs.
PayMaya Philippines, the country’s pioneer and leader in cashless payments, is the digital financial services arm of PLDT’s Voyager Innovations. It is also the largest mobile payments acquirer in the Philippines, enabling merchants to accept card payment online and offline through its various solutions. To know about PayMaya QR, visit: qr.paymaya.com. ADVT