Students of the University of Caloocan City receive their P1,000 financial aid directly via PayMaya, which can be used for cashless transactions such as sending money, buying load, paying for bills, and other online purchases. They can also encash their funds at any Smart Padala center near their area of residence. The city is disbursing the cash aid to about 13,000 students of the university to aid in their day-to-day expenses as Metro Manila continues to be under the enhanced community quarantine due to the COVID-19 pandemic.
Caloocan City has joined the fast growing number of satisfied local government units that are using the PayMaya wallet as a way to distribute financial aid to their constituents during the enhanced community quarantine, as it disburses more than P14 million worth of financial aid to University of Caloocan City (UCC) students via PayMaya and Smart Padala.
Some 13,000 students of the city public university are receiving the financial aid sent by the local government unit (LGU) directly to their PayMaya accounts through a digital voucher system.
When students receive an SMS informing them that they have received funds from the Caloocan LGU, all they have to do is "claim" the voucher in the app and it will be credited instantly to their PayMaya account.
Once received, the funds can be encashed through more than 800 Smart Padala centers in Caloocan alone and several hundreds more in adjacent cities, many of which are available even in small neighborhoods. Students may also choose to use the cash aid to pay their bills, buy airtime load, send money to family, or do online groceries using the PayMaya app.
“Many of these students belong in households whose parents have temporarily lost their livelihood due to the quarantine, so every bit of assistance helps. By partnering with PayMaya, we are able to provide this cash aid quickly and safely to all our beneficiaries,” said Caloocan City Mayor Oscar Malapitan.
Last week, the Bangko Sentral ng Pilipinas highlighted the necessity for e-Payments during the ECQ. In a statement, BSP Governor Benjamin Diokno noted "the importance of shifting consumer behavior toward e-payments, considering the limitations on people’s movement and activities during the ECQ."
“Cities like Caloocan are already realizing the immense benefits of mobile wallets in providing assistance to their citizens at this time where it is needed the most. Because it is easy to open a PayMaya account using only a mobile phone and there are Smart Padala agents in every neighborhood, national government agencies and LGUs can conveniently and safely provide assistance through these e-Money channels,” added PayMaya Founder and CEO Orlando Vea.
Caloocan, together with Manila City, are the first LGUs that have already disbursed financial aid to citizens via cashless means during this Enhanced Community Quarantine period.
Safer, more convenient contactless payments
Distributing financial aid through mobile wallets is a safer, more convenient, and more efficient means for local governments since the recipients no longer have to queue and congregate in claiming areas to get the money, allowing citizens to practice social distancing in light of the COVID-19 pandemic.
On the legislative front, the House of Representatives through its “New Normal for the Workplace and Public Spaces Bill” is recommending the use of cashless payments for retail stores and transportation services as everyone prepares to welcome a new world once the crisis is over.
PayMaya has partnered with various government agencies to help the most vulnerable sectors of society cope with the effects of the quarantine. These include the Social Security System (SSS) for the Small Business Wage Subsidy program (SBWS); the Department of Social Welfare and Development (DSWD) for its Assistance to Individuals in Crisis Situations (AICS) fund; as well as the local governments of Manila, Mandaluyong, Caloocan and Quezon City. PayMaya is working with other local government and agencies to help make distribution of cash assistance faster, more efficient, and more transparent.
“Digital wallets also help make the process more transparent since every disbursement comes with a transaction log, ensuring that the funds go to their intended recipients,”
PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cuts across consumers, merchants, and government. Aside from providing the payments acceptance for the largest e-Commerce, food, retail and gas merchants in the Philippines, PayMaya is enabling national and social services agencies as well as local government units with digital payments and disbursement services.
Through its PayMaya app and wallet, it is providing millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined.
Its Smart Padala by PayMaya network of over 30,000 partner agents nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services.
To know more about PayMaya's products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram.