UnionBank and MVP-led PayMaya Philippines inked a new partnership that will allow each others’ customers to have expanded access to mobile banking, digital payments, and money transfers.
Through this partnership, two innovators in the local financial space work together to further boost financial inclusion in the Philippines, extending PayMaya services to more users. We are thrilled to see the positive impact of this tie up along with other developments that we can build with UnionBank.
– Manuel V. Pangilinan, Chairman, PLDT
The partnership aims to synergize each other’s financial technology platforms to enhance customer experience. PayMaya Philippines is the pioneer in mobile money and digital payments and the developer of the app that enables the financially underserved to pay online without a credit card. PayMaya app users can now reload their mobile wallets via UnionBank’s automated teller machines (ATM). UnionBank account holders can also load up their PayMaya accounts through the UMobile app and online banking. The UMobile app can be used free of charge by Smart, Sun and TNT subscribers.
Partnership with fintechs ranks high among UnionBank’s objectives in the near future. We will continue looking for ways, such as this endeavor with Paymaya, to find solutions to the growing needs of our customers.
– Edwin R. Bautista, President and COO, UnionBank
With this new partnership, UnionBank remains committed to creating a BetterWorld by providing a commercially sustainable experience for its customers. The Bank has existing tie-ups with PayMaya, PLDT and Smart’s digital innovations unit, Voyager Innovations. Other initiatives include Takatack Rewards for employee incentives tied in with Voyager’s digital commerce platforms, as well as making UnionBank’s UMobile app free of data charges when used by Smart, TNT and Sun subscribers via Voyager’s sponsored data platform, freenet.
UnionBank is one of the newest additions to the growing network of currently 15,000 PayMaya load-up partners and touch points that include Smart Padala Centers, 7-Eleven, Robinson’s Department Stores, SM Business Centers, and BDO phone and online banking among others.