PayMaya, Inc., which enables everyone to own and use digital money, has made significant strides with its commitment to embracing innovation. Their latest landmark move, PayMaya’s inception, allows its wallet users to experience the power of personal finance by making available an exciting new feature – cryptocurrency as a payment option. This is more than a statement of support; it is a statement of faith in alternative payments and their place in our financial future.
Features of Payment App PayMaya
The customers of Payment App PayMaya will now be able to buy cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash through the app’s existing deposit channel. In addition to using a credit card or bank account to deposit fiat currency into their accounts, PayMaya users can now easily exchange their cash for cryptocurrency through over 6,000 participating stores nationwide. This is a huge step forward for the unbanked population of the Philippines—the country has been at the forefront of financial innovation in Southeast Asia; however, many people there do not have access to traditional banks.
Goal Behind Philippines’s PayMaya App
The Philippines’s PayMaya app was created as a way for people without bank accounts to pay for things online and in stores with just a swipe of their phone. The app supports online transactions between friends, family, and peer-to-peer businesses like ride-sharing and food delivery services—not glamorous stuff like investing in cryptocurrency.
Since PayMaya’s inception, the app has focused on providing wallet functionality to customers by making it easy to connect your existing bank accounts and cards (MasterCard, Visa, and American Express) as payment options. You can also convert cash or other payments into digital funds equivalent to the cash value.
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