SunStar PayMaya is first PH fintech firm to enable merchants with QR Ph
DAVAO. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno (right) and Deputy Governor Mamerto Tangonan (left) successfully complete their contactless transaction by scanning the PayMaya-enabled QR Ph code for merchants using the AUB and China bank mobile apps. Launched by the BSP on April 30, QR Ph for merchants enables businesses to accept payments from customers of other banks and financial institutions for various transactions. PayMaya is the first financial technology firm to adopt the national QR code standard for merchants, which will be rolled out to its partners in the next several months. (Contributed photo)
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SunStar
+ February 24, 2021 THE country’s financial sector regulators have signed a memorandum of agreement (MOA) under the auspices of the Financial Sector Forum (FSF) on the establishment of a Cooperative Oversight Framework on financial technology (fintech) innovation.
FSF is a voluntary inter-agency body comprised of the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission, Philippine Deposit Insurance Corp., and the Insurance Commission.
“The framework aims to facilitate seamless regulation and supervision of fintech companies across the financial sector leveraging on the consultative and collaborative platform under the MOA. This will ensure that risks attendant to fintech activities are effectively managed without stifling innovation. The operationalization of the MOA is seen to avoid regulatory overlaps and arbitrage and promote adherence to standards set out in relation to cyber security, anti-money laundering/combatting of financing
Published January 11, 2021, 1:02 PM
As the Philippine economy re-opens on its way to recovery, cashless payments in stores and online have become part of merchants’ and consumers’ arsenal to protect themselves and mitigate the spread of the virus causing COVID-19. PayMaya is leading the way toward massive adoption of cashless payments through its end-to-end digital financial services that are enabling consumers, merchants, enterprises, and government units nationwide.
With over 28 million customers across its platforms and over 200,000 touchpoints nationwide, leading digital financial services firm PayMaya is building the digital payments backbone of the country to make ‘Cashless Philippines’ a reality for all Filipinos nationwide.
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