In a bold and surprising move that is sure to be scrutinized in the e-commerce industry in the months or years to come, digital payment firm PayMaya unveiled on Thursday, Feb. 11, its own online mall.
Called PayMaya Mall, the one-stop shop online destination is composed of merchants that are already using PayMaya for their cashless transactions.
Some of the on-boarded vendors include fastfood giants Jollibee and McDonald’s, grocery store Landers, and apparel maker Nike. PayMaya said there are more than 100 partner brands can be found in the virtual mall, whose main draw is the fact that they only need the PayMaya app to pay for their cashless transactions.
Mark Jason Dee, head of growth marketing and partnerships at PayMaya, said during the launch that PayMaya Mall won’t compete with established e-commerce platforms Lazada and Shopee. “We’ll complement each other. In fact, they’re our partners as they also use PayMaya as a payment gateway,” he said.
As the virtual mall is limited only to PayMaya’s partner merchants, shoppers are assured that they are only purchasing from legitimate sellers, the company said.
“With the launch of PayMaya Mall today, we’re taking this cashless convenience to the next level by bringing consumers the unique mall experience they have grown to love inside the PayMaya app. Now, on top of settling their bills or sending money to their loved ones, they can also pay for their groceries, order lunch, or shop for beauty products, all in one convenient mobile and cashless shopping experience,” said Dee.
With the launch of PayMaya Mall, the digital payment firm said it is putting on overdrive mode its “Balik Bayad” promos and offers from partner merchants.
To kick off the PayMaya Mall reward experience, PayMaya is offering up to P880 cashback for purchases inside PayMaya Mall. For a minimum spend of P300 paid using a PayMaya mobile number, buyers can get a 20% cashback of up to P88 per transaction. This offer can be availed up to 10 times until March 15, 2021, or a total of P880 in Balik Bayad savings.