PayMaya Philippines, the digital financial services arm of PLDT and Smart’s Voyager Innovations, has expanded ‘add money’ channels through the launch of InstaPay as well as the addition of more bank partners.
Through InstaPay, account holders of PayMaya can now easily transfer amounts of up to P50,000 from their bank accounts and receive them in real time to their PayMaya accounts anytime and any day of the week.
Initially, through InstaPay, depositors of Asia United Bank, BDO, China Bank, Chinabank Savings, Equicom Savings Bank, Security Bank, and UnionBank are now able to send money to their PayMaya accounts.
More bank and non-bank partners will be added in the coming months as they get accredited by the Bangko Sentral ng Pilipinas to be part of InstaPay.
PayMaya is one of the first two electronic money issuers in the country that is able to receive money transfers from these sending banks, allowing for a seamless and more convenient money transfer electronically to PayMaya accounts nationwide.