Here’s good news to freelancers and online business owners in the Philippines. Digital financial services provider PayMaya and global digital payments leader PayPal have entered into a landmark partnership that will open new opportunities for users of both services.
PayMaya is now facilitating withdrawal of PayPal funds in the country. Thus, those who use keep and use PayPal could transfer any amount to their PayPal accounts, which in turn could make fund withdrawal more convenient. After completion of fund transfer, PayMaya users can withdraw money through local ATMs (Landbank charges P5, while other Bancnet cards charge P15 as transaction fee). PayMaya app or card also facilitates shopping online or in any physical store here and abroad, wherever Visa purchases are accepted.
There is also an ongoing promo that gives users the opportunity to slash PayPal’s withdrawal fee by 80% whenever they transfer an amount from PayPal to PayMaya. This introductory offer will run until December 21, 2016.
PayPal in the Philippines
For a decade now, numerous freelancers (writers, graphic artists, digital marketers, and content developers) and Internet-based entrepreneurs have been using PayPal in receiving payments for their services from employers and clients who are based overseas.
Before this landmark deal with PayMaya, PayPal users have been withdrawing money through their local bank accounts, a practice that is usually described as tedious by most users.
PayMaya in the Philippines
This collaboration is one of the initiatives set by PayMaya Philippines as it aims to further promote the use of digital financial services across the country. Its app remains as the most popular finance app in Google Play Store in the Philippines, posting more than 260% year-to-date growth in users. The service was also recognized as the world’s best online payments solution by the Emerging Payments Awards.
Photos from PayMaya