PayMaya, DOTr, LTFRB partner to provide cashless payment in PUVs
PLDT-backed digital financial services provider PayMaya, the Department of Transportation (DOTr), and its attached agency the Land Transportation Franchising and Regulatory Board (LTFRB) have collaborated to boost cashless transactions in the country’s transportation sector.
The move was part of measures to limit human contact amid the transition to “new normal” over the COVID-19 crisis.
PayMaya president Shailesh Baidwan said the digital services firm would use its “end-to-end digital financial services and solutions” to enable contact-less payments through card or e-Wallet payments inside public transportation vehicles, hubs or terminals, gas stations, and delivery services.
He said the move supported the mandate of the DOTr and the LTFRB for transportation service providers to accept contact-less payments in public transit to limit the spread of the COVID-19.
"When the DOTr and the LTFRB called for PayMaya to help deploy cashless payments in transportation back in May, we worked quickly with our partners to provide them with the necessary solutions and technologies to make this happen," Baidwan said.
The PayMaya chief said the company had enabled the entire transportation chain with digital payments solutions:
- Commuters - the commuting public can easily top-up their beep cards by purchasing credits through the PayMaya app. They can also scan-to-pay in PayMaya QR-enabled vehicles or pay using their credit, debit, or prepaid card in transport service providers that have PayMaya terminals.
- Transportation service providers - PayMaya is enabling the likes of UBE Express (P2P and Airport shuttle services), hirna and EKR Taxi (taxi services), as well as Hype (TNVS) to allow them to accept card and QR payments in vehicles or when commuters book through their apps or websites.
- Transit hubs - the Araneta City Bus Port has engaged PayMaya since a few years ago to offer QR and card payments in its hub and through its website.
- Petroleum providers -Petron, Shell, SEAOIL, Unioil, Cleanful,RePhil, and other major fuel retailers have adopted PayMaya's services to offer contactless payments in gas stations using card or e-Wallet apps.
- Delivery services - PayMaya is helping process card transactions for Lalamove and other delivery providers for cashless payments when booking a delivery.
- Government agencies - The Land Transportation Office, the Bureau of the Treasury and PayMaya have formally signed an agreement that will soon allow cashless payments powered by PayMaya for motor vehicle registrations and renewals through the LTO website.
Baidwan said PayMaya was also in talks with air and water transport providers to empower them with cashless payments acceptance as well.
“By using cashless payment solutions for their services, these companies are able to reduce the spread of the virus often associated with cash-handling,” Baidwan said. -NB, GMA News