Friday, August 19, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Biz Plus

PayMaya says digital dealings gained tipping point in 2020

Darwin G. AmojelarbyDarwin G. Amojelar
January 31, 2021, 7:05 pm
in Biz Plus
Reading Time: 2 mins read
A A
73
SHARES
Share on FacebookShare on TwitterShare on Email

Paymaya Philippines Inc. said digital payments became the preferred mode of settlement of Filipinos shopping online last year and overtook cash transactions.

PayMaya founder and chief executive Orlando Vea said cashless modes of payment”•which include e-Wallets such as PayMaya, cards and bank transfers”•most likely reached a tipping point in 2020 when over 50 percent of online shopping transaction value in the country were paid through cashless means, based on data from Google, Temasek, Bain & Company, Euromonitor and PayMaya.

“From Cash On Delivery, today COD now means Cashless Orders and Delivery. In 2020 alone, we processed over P95 billion worth of online shopping transactions across all of our platforms, which only shows that consumer preference for cashless payments and online shopping is overwhelmingly present,” Vea said. 

Vea said because of this development, the Philippines was on the cusp of an online shopping explosion as financial technology providers, digital players, businesses and the government accelerated the pivot to digital, bolstered by the launch of the update e-Commerce Philippines Roadmap 2022 by the Department of Trade and Industry on Friday.  

With the updated e-Commerce roadmap for 2022, the DTI is targeting to increase e-commerce merchants to one million from a base of 500,000 and hike e-commerce contribution to Philippine economy to 5.5 percent from 3.4 percent last year.   

ADVERTISEMENT

“As we recharge our economy and build back better in the post-pandemic era, let us create a ‘better normal’ by taking advantage of the benefits of e-commerce. And as we aim for fast, convenient and easy commerce in a digital world, let us remember that more e-commerce means more jobs and employment generated for our countrymen,” Trade Secretary Ramon Lopez said during the launch of the updated e-commerce roadmap.

Vea said the conditions created by the COVID-19 pandemic accelerated the push for e-commerce, but the support of players in the entire ecosystem would turbo-charge its growth all the way to 2022.  

“With the guidance of DTI and the push to make e-commerce easy for all players involved, we are seeing online shopping and cashless payments boom in the country like never before,” Vea said. 

“Consumers are now used to ordering online or via their phones and paying via cashless, and many businesses have accelerated their migration to digital, so there’s no turning back now when it comes to digital payments and e-Commerce in the Philippines,” he said.

PayMaya is an end-to-end digital payment ecosystem enabler in the Philippines with platforms and services that cut across consumers, merchants, communities and government. 

PayMaya saw marked increase in the number of micro, small, and medium-sized enterprises utilizing its cashless payments solutions as many of them migrated or began their operations online”•with DTI recording as many as 900,000 newly registered business for the entire 2020.  

Through its app and wallet, PayMaya provides over 28 million Filipinos with access to financial services. Customers can conveniently pay, add money, cash out or remit through its over 200,000 digital touch points nationwide, the widest network in the country. 

Tags: Bain & CompanyCOVID-19Department of Trade and IndustryEuromonitorGoogleOrlando VeaPayMayaPaymaya Philippines IncTemasek
ADVERTISEMENT
Darwin G. Amojelar

Darwin G. Amojelar

Related Posts

Britain labor shortages see mass of food go to waste

byAFP
August 17, 2022, 7:35 pm
0
135
Banaag assumes post as Bright Kindle director

LONDON, United Kingdom—More than £60 million ($72 million) worth of food went to waste in Britain in the first half...

Read more

Torrid weather increases egg prices in China

byAFP
August 17, 2022, 7:30 pm
0
139
Banaag assumes post as Bright Kindle director

Beijing, China—Scorching temperatures in eastern China have pushed up egg prices because hens are laying fewer in a hotter-than-usual summer,...

Read more

London has lost 1 in 7 pubs and bars since 2022

byAFP
August 16, 2022, 6:40 pm
0
163
Banaag assumes post as Bright Kindle director

LONDON, United Kingdom—The City of London financial district, one of the world’s leading business hubs, has lost one in seven...

Read more

In scorched England, source of River Thames dries up

byAFP
August 16, 2022, 6:35 pm
0
419
In scorched England, source of River Thames dries up

By Tangi Quemener ASHTON KEYNES, United Kingdom—At the end of a dusty track in southwest England where the River Thames...

Read more

SPEC PROPERTIES INC.: Notice of Meeting

byManila Standard
August 16, 2022, 7:30 am
0
158
Banaag assumes post as Bright Kindle director

Read more

WESTERN PANAY HYDROPOWER CORPORATION: Notice of Meeting

byManila Standard
August 16, 2022, 7:00 am
0
145
Banaag assumes post as Bright Kindle director

Read more

Stories you may like

  • People …are talking about Liza Soberano

    Supermodel son is Philippine bet in Manhunt International

    12374 shares
    Share 4950 Tweet 3094
  • How love kept Zoey Taberna alive

    10543 shares
    Share 4217 Tweet 2636
  • SMART/MVP-PH Team joins ‘22 Asian Taekwondo Championship

    1130 shares
    Share 452 Tweet 283
  • CHERY Tiggo Crossovers release players, salute their contributions 

    1119 shares
    Share 448 Tweet 280
  • Solidum heads DOST, ex-solon envoy to Japan

    862 shares
    Share 345 Tweet 216

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • Depots yield hoarded sugar
  • Scarcity of white onions pushes price to P400/k
  • DSWD to extend cash aid to poor students
  • Carlos at WPS as China envoy calls on PBBM
  • Metro mayors stand pat on NCAP policy
  • Allies
  • COVID mutations now harder to detect

Advertisement

Latest News

Metro mayors stand pat on NCAP policy

byJoel E. Zurbanoand1 others
August 19, 2022, 12:30 am
0
168
Metro mayors stand pat on NCAP policy

Metro Manila mayors on Wednesday insisted on carrying out the no-contact apprehension program (NCAP) despite mounting opposition from motorists and...

Read more

Allies

byManila Standard
August 19, 2022, 12:27 am
0
134
Metro mayors stand pat on NCAP policy

President Ferdinand Marcos Jr. meets with visiting US lawmakers led by Sen. Edward Markey. 'We look forward to continuing our...

Read more

COVID mutations now harder to detect

byWillie Casas
August 19, 2022, 12:25 am
0
186
Omicron now dominant virus variant in US

The World Health Organization has warned that a global decline in genome sequencing is making it “so much harder to...

Read more

Animal exposure risk monkeypox infection—WHO

byAFP
August 19, 2022, 12:20 am
0
142

The World Health Organization called Wednesday for people infected with monkeypox to avoid exposing animals to the virus following a...

Read more

Inflation pressures ebbing

byManila Standard
August 19, 2022, 12:15 am
0
145
Inflation pressures ebbing

Inflation pressures appear to be softening up, which is good news for everybody. Global oil prices, the main culprit behind...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App