Meet the first ‘cash-lite’ community in the Philippines

• PayMaya and PLDT  have cooperated to establish the first ‘cash-lite’ community in the country, with PayMaya powering multiple cashless, contact-free payment solutions around the community

Once the ‘cashless’ movement started rolling in the Philippines, its momentum is proving unstoppable. Cash-free payment options are popping up all over the archipelago, led by the Philippines’ two biggest e-payment platforms, PayMaya and GCash.

From quick-service restaurants to instant fund transfers to paying online for tuition fees, the Philippines is making up for lost time on digital payments by enabling cashless integrations over a dizzying variety of formerly cash-only services.

And now that momentum is heading towards powering local communities with cash-free or ‘cash-lite’ transaction methods, starting with Barangay Namayan in Mandaluyong City. A barangay is an inner-city suburb in the Philippines, and the local government is harnessing PayMaya’s fintech capacities, in cooperation with PLDT Enterprise.

Residents of Barangay Namayan have now been equipped with PayMaya-powered citizen ID cards, that serve as both an identification card and a payment card linked to the smartphone. Namayan citizens can use either the PayMaya app or the card to complete everyday transactions throughout their barangay such as buying from neighborhood stores, online shopping, fund transfers, bill payments, and more.

At the virtual reveal of the PayMaya ID card that will allow Barangay Namayan residents to complete everyday transactions around their community. Source: Manila Bulletin

Employees of the municipality are also set to receive their salaries via their own PayMaya-powered citizen ID card, a safer and more efficient distribution system than previously. And small to micro SMEs (MSMEs) in the community can make use of PayMaya Negosyo, a merchant app that allows MSMEs to accept cashless payments via PayMaya QR codes in stores, along with other contactless fund transfer methods like PayMaya Send Money and Bank Transfers online.

The contact-free transaction methods have become important in educating Filipinos as the health pandemic still sweeps the country. “Our collaboration with PayMaya and PLDT Enterprise becomes even more relevant now, given the need for safer contactless transactions,” commented Barangay Namayan Chairman, Victor Emmanuel Francisco Jr. “By encouraging the use of cashless technologies in everyday transactions in our barangay, we are building a safer and more inclusive community.”

 

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In addition, cash remittance services are still available around Barangay Namayan from Smart Padala by PayMaya agents, making remittance transfers convenient in the neighborhood. Smart Padala by PayMaya is a network of over 30,000 partner touchpoints nationwide that serve as last-mile digital financial hubs in communities, providing the unbanked and underserved with access to financial services.

The partnership is in line with the common goal of PayMaya and Smart’s parent PLDT Enterprise, to power digital cities across the country and enable cashless ecosystems by making relevant digital payment solutions available at the right places, to complement the local communities.

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“We’re happy to work with PayMaya Philippines and PLDT Enterprise as we launch the first barangay-level cash-lite community in the country, with our very own Barangay Namayan,” said Menchie Abalos the mayor of Mandaluyong City, where Barangay Namayan is situated. “We’re looking forward to digitizing more communities around the City of Mandaluyong as we provide safe, convenient, and efficient services to the rest of our citizens.”

“This project is very much in line with our vision of providing digital financial services to all Filipinos. Adoption at the barangay level signals an encouraging breakthrough at the grassroots. We are happy to partner with Barangay Namayan and the City of Mandaluyong for this trailblazing initiative,” added PayMaya Founder and CEO, Orlando B. Vea.