FINANCIAL technology provider PayMaya has enabled the City of Manila to disburse more than P13 million in financial assistance to eligible senior citizen beneficiaries during the ongoing enhanced community quarantine (ECQ) amid the coronavirus disease 2019 (Covid-19) crisis.
Some 9,000 elderly recently received their three months’ worth of stipend from January to March directly to their accounts. Another 8,000 senior citizens have already received the financial aid for the same period earlier this year.
“Our partnership with PayMaya has enabled us to deliver fast and transparent financial assistance to our senior citizens at this time of great need, allowing them to receive their benefits from the safety of their own homes. Digital financial services help us to continue serving our constituency despite our current public health challenges,” said Manila City Mayor Francisco “Isko Moreno” Domagoso.
“Disbursing cash assistance via e-wallets is a safer and more transparent means in providing financial aid to citizens, since it minimizes cash handling and provides a record of money transfer. We are happy to see our services being utilized during this enhanced community quarantine for the benefit of one of the the most vulnerable segments of Manila’s population,” noted Orlando Vea, founder and chief executive officer of PayMaya.
The issuance of citizen ID cards powered by PayMaya kicked off late last year as part of the City of Manila’s benefit program for senior citizens, persons with disabilities and solo parents. Over 17,000 citizen ID cards have so far been distributed.
This initiative will continue once the ECQ is lifted. Senior citizens yet to be equipped with PayMaya-powered ID cards will get their cash assistance through their barangay captains.
The funds deposited in their PayMaya accounts can be used to pay bills, buy load, purchase groceries online, or send money to other users.
The amount can also be transferred or encashed to the nearest Smart Padala agent, or can be withdrawn via any of the Bancnet ATMs. “Mobile wallets and other digital financial services are proving to be essential tools in helping national and local governments deliver better public service to the people,” Vea said.
Because of a digitally empowered system, not only can the government efficiently and immediately disburse financial aid to intended beneficiaries but this also can guarantee transparency, as well as red tape and corruption mitigation.
It’s also an ideal mode of transaction during this time as it promotes lesser cash handling and consequently helps in containing the spread of Covid-19. With mobile wallets, people can easily transact at home or with limited contact at local neighborhood merchants through QR or card payments.
PayMaya is the sole end-to-end digital payments ecosystem enabler in the country with platforms and services that cuts across consumers, merchants and government. Apart from providing payments solution for e-commerce, food, retail and gas merchants, it is also enabling national and social services agencies, as well as local government units with digital payments and disbursement services.
Through its PayMaya app and wallet, millions of Filipinos can now own a financial account with its more than 40,000 Add Money touchpoints nationwide. Its Smart Padala by PayMaya network of over 30,000 partner agents nationwide serves as last mile digital financial hubs in communities.
1 comment
I am a senior citizem born nov 2 1946
Widow
No financial aid from paymaya since 2020 upto now
My name is ROSALINDA P. FERNANDEZ
09519135815