Its stakeholders PLDT Inc, KRR, China's Tencent, IFC and IFC Emerging Asia Fund committed up to $120 million new investments in Voyager, operator of PayMaya, the group said in a joint statement.
The new funding is a follow-on from the stakeholders' initial investment of $215 million made to Voyager in 2018, it said. “In line with the country’s goals, we have made significant strides in spurring cashless adoption in a largely unbanked population. This funding boosts PayMaya’s ability to reach more Filipinos, especially as access to digital financial services becomes even more important," Voyager Innovations CEO and founder Orlando Vea said.
The PayMaya app and digital wallet is one of the pioneering technologies in the country that promotes cashless payments and financial inclusion. It has over 40,000 "add money" touchpoints nationwide or double the total number of traditional bank branches in the country, the statement said.
Congrats PayMayaOfficial
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