The Cooperative Union of Batangas (CUB) has tapped digital payments services firm PayMaya, in cooperation with PLDT Enterprise, to provide a safer and more seamless way to disburse salaries, loans, and dividends to its cooperative members.
Through the partnership supported by PLDT Enterprise, the cooperative is utilizing the PayMaya PayOut solution to conveniently disburse in real-time loans and dividends to its members as well as salaries to its employees through their PayMaya accounts.
Aside from this, they can also use the PayMaya platform to process the transfer request of their members to move funds from their savings accounts and their PayMaya accounts, which will allow them to perform other financial transactions such as paying for goods online and in-store, paying bills, buying load, and sending money, among others.
“We are in full support as the Cooperative Union of Batangas takes the first steps in digitizing their services, which helps bring financial services closer to the grassroots communities,” PayMaya Founder and CEO Orlando B. Vea said.
PayMaya’s PayOut disbursement platform is the same mechanism currently being used by select government agencies and local government units in delivering digital financial aid to their constituents, such as the likes of the Department of Social Welfare and Development (DSWD), Social Security System (SSS), as well as the cities of Manila, Pasig, Caloocan, Mandaluyong, and Quezon City, among others.
PayMaya is an end-to-end digital payment in the Philippines, with platforms and services that cut across consumers, merchants, and government.