Voyager Innovations, the fintech arm of PLDT Inc., announced the launch of PayMaya QR in Boracay island.
The company said in a statement that it had rolled out the digital payments platform, accessible through the PayMaya mobile app, across hundred of Boracay merchants, including hotels, restaurants and shops.
These include establishments like Spice Bird in D’Mall, Titos near Station 2, and Sunny Side Café in Station 3; convenience store like Budget Mart; and Epic Bar.
“As we’ve noted early this year, PayMaya is increasingly becoming the preferred mode of payment for travelers. But it’s not just for booking their travel necessities online–increasingly, they are able to use PayMaya in many local destinations including Boracay, where it makes better sense to handle less cash when paying for their items,” Paolo Azzola, chief operating officer and managing director at PayMaya, said in the statement.
The initiative is seen to further boost the tourism industry and the local economy in Boracay, which reopened last year following a six-month closure and rehabilitation program.
PayMaya has been accelerating its rollout since the entry of new investors such as China’s Tencent Holdings, investment fund KKR and International Finance Corp. in 2018.
It also follows PayMaya’s strategy to build “cashless communities” all around the country, including areas such as La Union, Baguio, Cebu, and General Santos.
“By establishing a mobile-based cashless ecosystem in the island, commerce is expected to flow more smoothly and help reduce the friction and risk of paying via cash–all consumers would need is their mobile phones in order to pay for their purchases,” PayMaya said in its statement.