MANILA, Philippines — Transactions processed by digital financial services firm PayMaya from partner government agencies soared significantly in a span of one year as digitalization in the public sector accelerated.
PayMaya said the volume of transactions it processed from partner government agencies surged by 900 percent from June last year to June this year.
The substantial increase indicates the government’s heightened efforts to encourage digital payments for fees and services by accepting debit, credit, and e-wallet payments through their online portals or branch offices, PayMaya said.
“In the span of one year, government agencies have stepped up their efforts in digitalizing their processes and enabling Filipinos to transact with them online. Because of this, many agencies have been able to continue offering relevant services despite the current crisis,” PayMaya founder and CEO Orlando Vea said.
“As the President said, there should be no more lines in government offices in the new normal as more people transact online, and PayMaya is proud to support government in achieving this goal,” Vea said.
According to the digital financial services arm of PLDT’s Voyager Innovations, many government agencies have risen to the challenge and accelerated their digitalization efforts, in part by offering digital payment facilities in partnership with PayMaya.
PayMaya has so far helped over 50 government agencies safely and efficiently process transactions online by being able to accept cashless payments from Filipinos.
Among these agencies are the Social Security System, Bureau of Internal Revenue, Home Development Mutual Fund or Pag-IBIG, Department of Trade and Industry, Department of Foreign Affairs, the Department of Science and Technology, the Bureau of Customs, the Bureau of the Treasury through the Bonds.ph platform, the Department of Agriculture’s Agricultural Credit Policy Council, the Professional Regulation Commission, the Tourism Infrastructure and Enterprise Zone Authority, and the National Home Mortgage Finance Corp.