Mobile app for online payment system launched

CEBU, Philippines – As online stores become the norm for shopping, specifically for the new breed of consumers also known as the millennials, Smart Communications Inc., introduced a channel that empowers shoppers to maximize online shopping without needing credit cards.

Smart eMoney, Inc., the digital financial innovations unit of Smart Communications announced the entry of PayMaya to the Cebuano market, the newest mobile app in the digital payment portal.

"Cebu has growing population that has access to the Internet and they are very aware of eCommerce and social media trends," said Raymund Villanueva, PayMaya head for marketing.

During the formal introduction of the product in Cebu, Villanueva said that the company has anticipated the expanding interest among shoppers, particularly the millennials in making online as their avenue for shopping, travel ticket purchases, and other transactions, thus PayMaya is introduced,

Today’s eCommerce and social media savvy consumer, Villanueva said should be empowered, even without having to own a credit card, by simply downloading an app in their mobile gadgets.

"One of the barriers for eCommerce adoption is the access to digital payment services. Smart Money seeks to address this through PayMaya," he said,

This will also serve as the modern consumers' "digital bank", being under the regulation of the Bangko Sentral Ng Pilipinas (BSP).

Introduced in August this year in Manila, PayMaya is available at the Google Play Store (Android) and App Store (iOS). It is a mobile app that generates a unique instant virtual VISA card which can be used for online purchases.

For face-to-face transactions in any establishment that accepts Visa, a physical PayMaya Visa Card is provided to users who upgrade their virtual account.

Instant virtual PayMaya Visa card holders can simply reload their accounts by visiting a PayMaya Load-Up Center or by transferring from a Smart money account.

At present, PayMaya reloading is available at selected Smart stores and Smart Padala Centers as well as Robinsons Business Centers. It will also be soon available in all 7-Eleven outlets nationwide.

"I'd like to think of PayMaya as a kind of passport. It gives Filipino millennials access to the digital economy," said Paolo Azzola, co-chief operating officer of Smart eMoney. (FREEMAN)