By Edd K. Usman
PLDT-owned financial technology firm PayMaya recently held a media briefing to formally announce its partnership with digital payment operator PayPal.
The two digital financial services providers forged the tie-up to allow freelancers and online businesses in the country to receive payment online.
Among those who are seen to benefit from the collaboration are Filipino freelancers such as graphic artists, developers, writers, digital marketers, and content creators, as well as online businesses — specially small and medium enterprises (SMEs) ? who receive funds as payments for their services or products.
Under the set-up, a payment made by any party through their PayPal account can be withdrawn through the PayMaya account of a freelancer or an online business. Before the collaboration, freelancers who have an account with PayPal can only withdraw their funds through banks.
Rahul Shinghal, PayPal general manager for Southeast Asia (SEA), cited the Philippines as being “one of the largest freelance markets in the world.” He added that Filipino freelancers are “fantastic,” who do tasks like Web design, data services, art work, and many other jobs.
With the tie-up between the two online financial platforms, Shinghal said freelancers and online businesses in the Philippines now have “a very good option of using their money they receive from their overseas clients.”
He said freelancers can link their PayMaya account to PayPal and start using the funds paid to them, buy cashless from grocery stores, and withdraw from an automated teller machine through their PayMaya card.
“I think with the collaboration like this it will only make life easier for freelancers. I am sure it will have a positive contribution not only to the freelancer community but to the economy at large,” he said.
Catherine Quiambao, a freelancer and blogger, liked the convenience from the arrangement.
“I receive payments from my clients overseas using PayPal and I am glad with many benefits that come with linking it to my PayMaya account. I don’t have to experience the hassle of withdrawing my money through other financial touch points, which require me to travel and wait long,” she said at the launch.
Another freelancer, Chino Chow of Baguio City, cited the arrangement is a big help since he relies on his PayPal funds for a lot of basic needs.
?Since I can link my PayPal to my PayMaya account, I can now directly pay my bills using the Pay Bills feature of my PayMaya app at home,” he said.
To open an account with PayMaya, one needs to download the PayMaya app from Google Play or the App Store and get an instant virtual Visa card that can be used for transactions, among them online purchases, bills payments, and PayPal transfers.
