The city government of Manila has partnered with digital payments firm PayMaya in response to the city ordinance signed by Manila mayor Francisco “Isko Moreno” Domagoso which provides for monthly stipends for senior citizens, PWDs, and solo parents.
Through the PayMaya-enabled ID cards, disbursement of the stipends will be more efficient for the city government and more convenient for the recipients because they no longer have to go to the city hall or other government offices to be able to receive their allowances.
Beneficiaries can also utilize it for financial services once they link the card to the PayMaya account.
“We are happy to partner with PayMaya for this groundbreaking initiative for the City of Manila which will help empower some of the most vulnerable citizens. Utilizing financial technologies to deliver efficient and transparent government services is in line with our goal of transforming Manila into a smart city of the future,” Domagoso said.
By equipping with an ID that doubles as payment card, citizens who are usually locked out of the traditional financial system are empowered with tools that give them access to a financial account and help build their credit history that will open up opportunities for them to sign up for more financial products in the future, according to PayMaya executives.
The beneficiaries of the initiative are 167,000 senior citizens and roughly 200,000 PWDs (persons with disabilities) and solo parent pensioners. Around P1.6 billion are given by the city government to these beneficiaries every year.