According to Business World, the agreement is in line with the Philippines government’s push for more convenient access to public services as it enables Pag-IBIG Fund members pay for their savings and loan repayments online.
The partnership will allow Pag-IBIG Fund members transact using any Visa, Mastercard or JCB credit, debit or prepaid cards, or through their mobile numbers linked to a PayMaya account. PayMaya will also provide Pag-IBIG Fund with point-of-sale devices in its branches, which will allow QR payments on top of the existing card payment options.
PayMaya is handled by PLDT’s digital arm Voyager Innovations, which is backed by Tencent, Kohlberg Kravis Roberts & Co., International Finance Corp. (IFC), and IFC Emerging Asia Fund.
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