February 2, 2023

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Maya Bank launches QR platform on CV

PAYMAYA Philippines Inc. announced that it launched its Person-to-Merchant (P2M) payment platform with QR (Quick Response) codes in Central Visayas last Tuesday, starting with Bohol Province.

“Not only do small merchants and Filipino consumers enjoy a hassle-free payment experience for their daily transactions with [the] QR [platform] but also creating a financial footprint that allows them to access more advanced banking services offered by [the company]” Mario M. Lazaro, head of the Paymaya Enterprise business unit, was quoted as saying in a statement.

The Voyager Innovations Inc. subsidiary said the Tagbilaran City Public Market was the recipient of the program in ceremonies presided over by Bangko Sentral ng Pilipinas (BSP) and local government officials.

According to Lazaro, the P2M platform dubbed the “Paleng-QR Ph” initiative is spearheaded by the BSP and the Department of Interior and Local Government (DILG). He added that it aims to “empower the Tagbilaran Municipality to help public market vendors and tricycle riders to accept cashless payments from any customer via the QR Ph, the nationwide standard for QR payments.”

Since introducing QR Ph in 2019 for person-to-person (P2P) payments and in 2021 for P2M payments, Lazaro has claimed his company has led financial institutions in adopting the national standard. He said the company now counts over 800,000 merchant touchpoints powered by Maya QR.

“Basta QR Ph, pwede kami,” said Lazaro. [If it’s QR Ph, we’re okay.]

He said that “the nationwide build-up of ‘digi-palengkes'” is part of the company’s “LGUs Embracing and Accelerating Digitalization” or “Lead” program. Lazaro said local government units (LGUs) are encouraging local merchants and constituents to digitize their transactions with the company’s “business-in-a-box” payment solutions and payout tools.

He also claims that the firm has been the “go-to partner” of Filipino businesses.

Paymaya Philippines is a subsidiary of Voyager Innovations, a wholly owned subsidiary of PLDT Communications and Energy Ventures Inc. The latter is a 99.9 percent subsidiary of Smart Communications Inc., a wholly owned subsidiary of PLDT Inc.