Digital payment firm PayMaya and the Development Bank of the Philippines (DBP) have expanded their partnership to transform the countryside with digital payments.
With the initiative, DBP will now be able to provide PayMaya’s end-to-end digital payment solutions to its partners in the public sector such as national government agencies, local government units (LGUs), water districts, electric cooperatives, as well agricultural and industrial enterprises, including small and medium-scale businesses.
PayMaya, through DBP, will be enabling these institutions and enterprises with the means to accept any credit, debit, and prepaid card or e-wallet for both online and physical locations.
“We are pleased to have PayMaya as our trusted partner as we drive the digital transformation of priority development sectors, especially in the countryside,” said DBP president and chief executive officer Emmanuel G. Herbosa. “We are looking forward to enabling more public sector and industry partners with PayMaya’s platforms as we continue to push for inclusive growth for all Filipinos.”
“Digital has become the preference for citizens, businesses, and the public sector. With this initiative with DBP, government institutions and industries in the countryside can reap the benefits of safer and more convenient transactions through cashless payments,” said Orlando B. Vea, founder and CEO of PayMaya Philippines.
“To truly fuel financial inclusion in the Philippines, we must enable our kababayans, especially those in the provinces, with innovative technologies that will help them adapt to the ongoing shift to digital payments. This initiative with PayMaya will help our partner institutions and enterprises and, in turn, accelerate economic growth,” said Owen Maramag, senior vice president and head of marketing of DBP.
Before this expanded partnership, PayMaya, through DBP, has worked together to power the digital payments for the Department of Foreign Affairs (DFA), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), as well as the local government units of Pasig City, Valenzuela City, Naga City, and Zamboanga City.