E-Money Industry in Support of More Frequent Use of Digital Transactions in Time of COVID-19 Pandemic

The Electronic Money (e-Money) industry supports the call of the Banko Sentral ng Pilipinas to make use of digital means to transact whenever possible, in light of the growing threat of COVID-19.

“We support the BSP’s call to the public to increasingly use digital transactions, where possible, for social distancing and to avoid crowds in light of the COVID-19 pandemic. Digital financial services are already increasingly being used by Filipinos for remittance, person-to-person and bank transfers, bills payments, settlement of government taxes and social service contributions, online commerce, QR payments, and purchase of digital goods. The eMoney industry is fully committed to help mitigate the spread of COVID-19 through digital financial services.”

– Orlando B. Vea, Chairman of the Philippine eMoney Association (PeMA) and CEO and Founder of PayMaya Philippines

PeMA member companies include PayMaya, GCash, GrabPay Philippines, Nationlink Network, and Omnipay.

PeMa was formed in 2017 as an association among BSP-licensed non-bank electronic money issuers to help promote the government’s drive for digitalization of financial transactions and accelerate financial inclusion among Filipinos.