With many businesses turning to online as a response to the current public health situation, digital financial services PayMaya unveiled its latest mobile payment innovation – the all-new PayMaya Negosyo app, which allows merchants to easily and quickly accept QR and online payments in just one to two days.
Through the new PayMaya Negosyo app available for Android devices, micro-, small-, and medium-sized enterprises (MSMEs) can easily accept QR and other forms of digital payments using their smartphones and even if they don’t have an e-Commerce website:
- Accept payments from PayMaya users via PayMaya QR which can be shared in their social media pages and chat apps;
- Receive payments from upgraded PayMaya users through the Send Money function of the app;
- Process bank transfer payments from any InstaPay-participating bank and e-wallet in the Philippines.
Interested merchants only need to sign up through the app using their mobile number, upload one valid government ID as well as a video selfie for liveliness check, and wait 24 to 48 hours for their application to be reviewed and approved so they can start accepting digital payments right away.
“As more consumers begin to prefer shopping online and paying using contactless methods, PayMaya Negosyo will give our MSMEs the easiest and fastest way to accept digital payments from across a variety of sources–all they need now is their smartphone and a valid ID,” said Shailesh Baidwan, President of PayMaya.
Fastest way to accept contactless payments
Given the effects of the COVID-19 pandemic across the world, physical distancing and online purchases will become part of the norm for everyone in the next several months–and merchants can easily adapt to this new situation by going cashless for their payments.
Through the PayMaya Negosyo app, merchants now have the fastest way to accept contactless payments from customers, whether they are PayMaya users or account holders of other banks and e-wallet providers.
Once the payments are received in the merchant’s PayMaya Negosyo wallet, they can then transfer these amounts to their respective bank accounts also via InstaPay. Compared with PayMaya consumer accounts that just have a P100,000 account limit for upgraded users, ‘Negosyo’ app users have a monthly limit of up to P250,000.