The trend of technology really is one of the fastest in today's ever-changing world, it started from simple computer software to Paypal, Facebook, Youtube, Twitter, and other gaming applications online. Along with those changes banking institutions and finance, industries are also following the change. I remember many years before, Smart Padala (Money) is one of the main players of remittance locally it can be seen almost anywhere in the cities and provinces of the Philippines. Fast-forward to today Palawan Pawnshop (Express) become a dominant player, surpassing even higher the Smart Padala and other remittance centers in the country. Now it seems like Palawan and other remittance centers are at threat.
The continued evolutions of technology in the banking and finance industries give opportunities to other players in the field. An innovative idea is an advantage, the driving force of this big demand for fintech is the convenience that people can get. Millions of people around the world are willing to pay for convenience services which means more innovative ideas are to form and more products and services to anchor in the technology.
Problem = Opportunities this theory is very effective in innovations, some of the major problems endured by the customers in the industry of remittance centers are; long queues, inconvenience, and hassles. Since then the simple Smart Padala remittance center give birth to an innovative user-friendly application that suits this contemporary world called Paymaya. The latter is a financial technology (fintech) that counters the problems of remittances and banking industries it is equipped with an innovative solution for today's world. So far, Maya formerly known as PayMaya is the second leading e-wallet in the Philippines.
Maya is Better
Today, Maya has 35 million customers that can conveniently pay, add money, cash out, or remit through its over 250,000 digital touchpoints nationwide. Smart Padala and Palawan are some of the 39,000 network touchpoints of the Maya. Actually, almost all e-wallets have the same systems; pay, add money, cash out, remit, and pay bills but what I really like about Maya is that it has features that are really helpful to me like the:
1.) Linking of PayPal to Maya, if you earn dollars in PayPal the best way to withdraw your money is by using Maya; the good thing about this is that you can get the amount at the same as the conversion rate unlike in Gcash that they had an additional charge for conversion to peso.
How to link the Maya?
Connect your visa virtual card (Maya) to PayPal, and the latter will charge you 100 pesos to verify the card no worries they will refund the 100 pesos after 1 month of successful verification. If the visa card is already connected and verified contact PayPal via Twitter, Messenger, or via Contact us on the PayPal website by writing a letter telling them that you want to change the currency of your Visa card (Maya) from PHP to USD, it only takes minutes. The benefit of this is that you can transfer with a minimum of 1$, with no additional charges the only charge they get is the transfer fee which costs $0.075 for every transaction.
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2.) Western Union to Maya, this application is really helpful to the OFWs and their families in the Philippines, remittance from Western Union can now easily be claimed using Maya.
How do these things work?
Open your Maya application, click the received money scroll down and locate Western Union, type the MTCN sent by the sender. Make sure that you are the receiver of the money and you are the owner of the Maya account, it only takes a minute to process and they don't collect a charge.
There are many merchants connected to Maya just as e-sabong, Mcdonald's delivery, Watson, and other online shopping merchants to name a few. Overall Maya gives convenience to its users, especially the two I mentioned above which makes life easier. Download yours now and get Php.100 using the code 1D8JMNOGJQ8.
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