Digital financial firms pursue Central Bank backed ‘cash-lite’ goal

DIGITAL payments provider PayMaya Philippines Inc. has struck a partnership agreement with Bounty Agro Ventures Inc. (Bavi) to offer a new mode of payment to customers of roasted chicken chain Chooks-to-Go.

PayMaya Chairman Manuel V. Pangilinan said this partnership would allow the group to take a step closer to its vision of creating a “cash-lite” society, as, under the deal, more than 2,000 branches of Chooks-to-Go will be powered by PayMaya QR technology.

The cash-lite program seeks to shift from predominantly cash-driven transactions in the country at present to all-digital payment systems and has the full backing of the Bangko Sentral ng Pilipinas.

“With partners like Bavi helping build the ecosystem in the country, we’re confident that a cash-lite Philippines is now taking off,” he said.

For its maiden service, an initial 50 Chooks-to-Go stores in Metro Manila will be deployed with PayMaya QR technology.

The wider rollout of close to 2,000 outlets nationwide is scheduled in the coming months.

“Innovation is in our DNA, and we are glad that we once again have an opportunity to revolutionize the experience of our customers through PayMaya QR,” Bavi President Ronald R. Mascariñas said.

This means customers only need their mobile phones with the PayMaya app whenever they buy roasted chicken at Chooks-to-Go stores.

Chooks-to-Go is the latest local retail brand to adopt PayMaya’s QR-based payment system, which has already been deployed in some of the country’s biggest brands as The SM Store, Robinsons Department Store, Robinsons Supermarket, Robinsons Appliances, and other Robinsons Retail Holdings brands, including brands under Robinsons Store Specialists Inc., such as Topman, Topshop, Topman, Dorothy Perkins, Burton Menswear, Miss Selfridge, Warehouse and G2000. It is also available in Ministop, Southstar Drug, and The Generics Pharmacy, Mercury Drug, Fully Booked and Surplus Shop, among many others.

PayMaya Philippines is the digital financial arm of PLDT Inc.

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