PayMaya has launched its latest mobile payment innovation which allows merchants to easily and quickly receive QR and online payments from their customers.
The new PayMaya Negosyo app enables MSMEs (micro, small and medium enterprises) to easily accept QR and other forms of digital payments using their smartphones even if they don’t have an e-commerce website. With the use of this new app, merchants now have a faster way to accept contactless payment from customers whether they are PayMaya users or account holders of other banks and e-wallet providers.
To use this, merchants just need to sign up through the app using their mobile number then upload one valid government ID, a video selfie for liveliness check and wait for 48 hours. Once their application has been reviewed and approved, they can start receiving contactless payments.
Once the payments are received via the merchant’s PayMaya Negosyo wallet, they can then transfer it to their respective bank accounts also via InstaPay. But unlike the regular PayMaya consumer accounts that only have Php 100,000 account limit for upgraded users, the “Negosyo” app users have a monthly limit up to Php 250,000.
