SEC turns to PayMaya for digital payments – Manila Bulletin

Filipino entrepreneurs will soon be able to pay cashless for their Securities and Exchange Commission (SEC) registration, business licenses, fines, penalties, seminars and trainings, through the commission’s online portal that works with Paymaya.

The SEC will integrate its online portal with the PayMaya Checkout payment gateway, which will allow the acceptance of any credit, debit and prepaid card VISA, Mastercard and JCB, as well as PayMaya. This is in cooperation with the Bureau of the Treasury (BTr) and Land Bank of the Philippines.

“The addition of PayMaya payment solutions provides a great boost to fulfill our mandate as an enabler of the Philippine business sector and capital markets,” said SEC Commissioner Kelvin Lester K. Lee.

“This is just one of the SEC’s initiatives to improve its services and provide a competitive and secure environment for easy business registration, efficient capital formation, and broad investor participation,” he added.

The SEC has continued to strengthen its online services to serve more businesses amid the COVID-19 pandemic by using its online portal to offer services such as business registration and monitoring, and corporate document request processing.

“We are pleased to provide the SEC with best-in-class cashless solutions to improve the ease of doing business,” said PayMaya Founder and CEO Orlando B. Vea.

“Landbank welcomes this collaboration and will ensure the efficient settlement and remittance of SEC fees and other payments,” said President and CEO Cecilia C. Borromeo.

Businesses can now also transact with other government agencies using PayMaya, as the latter has partnered with businesses such as the Internal Revenue Office, the Department of Commerce and Industry, the Customs Office, the PAG-IBIG Fund, the Sistema of Social Security and the Philippine Intellectual Property Office, among others, for accepting end-to-end business-to-government cashless payments via cards and e-wallets.

To date, PayMaya has empowered more than 60 government units at the national and local levels with cashless payment acceptance and disbursement solutions as part of the government’s overall digitization efforts in response to the current public health situation and to promote the recovery of the economy.

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services traversing consumers, merchants, and the government.

In addition to providing payment acceptance for the largest e-commerce and “everyday” merchants in the Philippines, PayMaya empowers national and social service agencies, as well as local government units, with digital payments and disbursement services.

Through its app and wallet, PayMaya provides millions of Filipinos with the fastest way to own a financial account, with the largest 57,000 Add Money touchpoints nationwide.

Its Smart Padala by PayMaya remittance agent network of more than 30,000 partner touchpoints across the country serves as last-mile digital financial hubs in communities, providing the unbanked and underserved access to services.