PayMaya Philippines Inc. said Friday it will provide P60 million to micro-, small- and medium-sized enterprises across the country to accelerate their transition to e-commerce with the help of digital and cashless technologies.
PayMaya said the assistance under the “Sulong Negosyo” campaign would help jumpstart the recovery and growth of MSMEs, aided by cashless and contactless payments.
“MSMEs form a critical sector in our country’s recovery from the current crisis. With all businesses compelled to go digital, MSMEs should not be left behind. ‘Sulong Negosyo’ is our rallying action to enable MSMEs with cashless technologies,” said Orlando Vea, founder and chief executive of PayMaya.
Data from the Department of Trade and Industry and the Department of Labor and Employment showe that some 90,000 businesses were still closed and over 200,000 workers permanently lost their jobs as a result of the COVID-19 pandemic, many of which belong to the MSME sector.