MONEY issuer PayMaya Philippines Inc. and Western Union Co. have expanded their partnership to allow the former’s users to directly receive domestic and international remittances into their digital accounts.
With this, users of PayMaya can now use a digital payout feature which allows them to receive money from Western Union fund transfers without visiting a physical store, doing away with queues and documentary requirements for remittances.
PayMaya President Orlando B. Vea said the collaboration “drives even greater financial inclusion for our families across the country.”
“All they need to receive their Western Union money transfer via PayMaya is their mobile phones: It’s convenient, quick and easy and allows them to save time and money for other more important things,” he said.
Western Union Regional Vice President for Malaysia, Indonesia, Singapore, Philippines and Brunei Darussalam Bassem Awada said the partnership allows the company to be more agile while effectively expanding its reach.
“Our aim is to offer seamless money transfers for all. This means reaching out to customers across all channels, including mobile. Filipinos can now choose digital payout on their PayMaya mobile wallet in addition to visiting a Western Union agent location to pick up cash,” Awada said.
PayMaya users need only to input the unique tracking number of the Western Union transaction in their PayMaya account. Users can receive up to $500 per transaction or $1,500 per day. They have a maximum wallet capacity of $2,000 per month.
Once the funds have been added to their accounts, users receive a real-time text notification and can monitor transaction history within the app. Aside from using the app and the physical card for transactions, users may also withdraw the money from any Bancnet ATM nationwide.