PayMaya has been recognized as the world’s best online payments solution for enabling instant access to the digital economy. The award was given by the Emerging Payments Association at the 9th Annual Emerging Payments Awards held in London.
Launched commercially in September last year, PayMaya bested other finalists in the Best Online Payments Solution category such as Easypay by Easypaisa Pakistan (eNett International Redefining Payments in the Travel industry), paysafecard (Online cash for the Internet — Austria), and Splitit (Interest-Free Monthly Purchases on Customers’ Existing Credit Cards — USA).
The Emerging Payments Awards is a prestigious industry recognition body in the global payments space that celebrates outstanding innovations, programs, and collaborations that have made an impact in the lives of consumers and in the payments technology industry.
With this win for the PayMaya mobile app and platform, PayMaya Philippines joins this year’s roster of global innovators in the payment and financial technology space. Other big winners include Vodafone, Saxo Payments and Wirecard.
“This recognition is for the #NowNation – our mostly millennial PayMaya users – who have readily adopted this payments technology, as well as our local and global partners. We are truly inspired and more committed to making payments and financial technology more accessible and available in the Philippines and other emerging markets,” said Orlando B. Vea, President and CEO at PayMaya Philippines.
“At the first instance, we are solving the digital payments challenge with PayMaya – a card for the uncarded. But beyond that, we are also addressing the pain points of convenience, affordability, and security. It’s all about enjoying the benefits of the digital life,” he added.
Tony Craddock, Chairman, The Emerging Payments Awards, commented: “Payments is one of the most dynamic and exciting industries in the world today, driven forwards by the creative minds behind many of the payment methods we use securely and conveniently worldwide. We have worked extremely hard over the last 12 months to ensure that each of our awards reflect what is actually happening on the ground with new emerging and alternative payments and I’d like to congratulate all of the nominees and winners on their success this year.”’
PayMaya is a free and secure app that allows everyone to pay and shop online. All users need to do is download it from the Google Play Store or App Store and register with any Philippine mobile number. After registration, it generates an instant virtual Visa prepaid card with unique 16-digit card number. Once activated, it can be used to shop online, anywhere Visa is accepted. Since it is prepaid, users can load it up at any of the over 15,000 touchpoints nationwide which include SM Malls Business Centers, Robinsons Department Stores, UnionBank ATMs, 7-Eleven stores with Cliqq Kiosks, TouchPay Kiosks, and Smart Padala Centers, on top of online banking via BDO.
While consumers enjoy the PayMaya app, they can also get a physical card that can be used in millions of establishments worldwide that accept Visa. PayMaya users can upgrade their account to enjoy more benefits: withdraw money through any Bancnet ATM and facilitate money transfer to other PayMaya users.
PayMaya has been launching breakthroughs with key partnerships with Bayad Center, Uber, and collaboration with PayPal.
PayMaya, through its PayMaya Business unit, powers merchants and businesses of all types and sizes with solutions so they can accept cards and online payments from consumers.
PayMaya is a product of PayMaya Philippines, the digital financial services arm of PLDT and Smart Communications. The company’s products and platforms are regulated by the Bangko Sentral ng Pilipinas to ensure all user transactions are secure. Aside from being the first non-financial institution in Asia to be granted by Visa with an issuing and acquiring license, PayMaya Philippines also counts MasterCard as its partner giving it the unique opportunity to offer both Visa and MasterCard products.
