PayMaya tapped to distribute aid to vulnerable
The Department of Social Welfare and Development (DSWD) has tapped digital payments company PayMaya to distribute financial aid to beneficiaries of the Assistance to Individuals in Crisis Situation (AICS).
The AICS program allows indigent, marginalized, poor or disadvantaged individuals or families to avail of medical, educational, burial or transportation assistance.
The government has been turning to cashless solutions to reach more Filipinos amid the new coronavirus pandemic. These services help close the gap in a country where almost everyone owns a mobile phone but over 70 percent do not have a bank account.
Last month, the DSWD also tapped PayMaya as one of the featured payment methods in the ReliefAgad app. Beneficiaries of the Social Amelioration Program may also choose to receive their cash aid through their respective PayMaya accounts.
PayMaya has partnered with local government units (LGUs), recently with Caloocan City, to distribute aid to students.
It also announced tie-ups with the Social Security System and LGUs such as Manila, Mandaluyong, Caloocan and Quezon City.
PayMaya founder Orlando Vea said that earlier registered users have doubled this year, mirroring figures released by competitors such as GCash.
Consumers have turned to cashless solutions amid strict lockdown measures to contain the spread of COVID-19, the disease caused by the new virus.
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