Freelancers and online entrepreneurs were given the highlight at the recently announced partnership of PayPal and PayMaya. PayPal is the leading payment gateway in the world and the payment of choice when it comes to online purchases and payroll for freelancers.
I’ve worked from home for over four years and have been using Paypal for my transactions. PayMaya wasn’t available that time yet so I had to send it directly to our bank and wait 5-7 working days for the transfer. During the event I get to meet Catherine Quiambao, freelancer and founder of the blog, freelancing.ph. I’ve attended one of workshops before and was glad to have met her again.
“I receive payments from my clients overseas using PayPal and I am glad with the many benefits that come with linking it to my PayMaya account. I don’t have to experience the hassle of withdrawing my funds through other financial touch points, which require me to travel farther and wait long. Whenever I need money, I just go to any Bancnet ATM and withdraw instantly using my PayMaya physical card,” said Catherine Quiambao.
Also present was Chino Chow, a Baguio-based DJ at K-Lite radio station and a freelance graphic artist
“I rely on my PayPal funds for a lot of my basic needs. Since I can now link my PayPal to my .Maya account, I can now directly pay my bills using the Pay Bills feature of my PayMaya app without taking time off, at the convenience of my home,” said Chino Chow.
It’s simple, just link your PayMaya account to your Paypal account, just like how you did with your bank account. Withdrawal or transfer of your PayPal money to PayMaya is also the same. Detailed instructions are posted at PayMaya’s blog – How to verify your PayPal account and withdraw funds with PayMaya
“At Voyager Innovations, we are committed to improving the lives of our users including freelancers and entrepreneurs by providing hassle-free, efficient, and reliable financial innovations like PayMaya. Our digital workforce drives the economy and they deserve a convenient channel to access their hard-earned funds. Our collaboration with the global payment leader PayPal aims to break platform barriers hindering our independent earners from realizing their full potential whether as a working individual or an online business,” said Orlando Vea, President and CEO at PayMaya Philippines and Voyager Innovations.
A withdrawal fee of PHP 250 will be charged. Luckily, PayMaya accounts get 80% off and save P200 when you transfer your PayPal funds to your PayMaya until December 21, 2016. PayMaya will credit PHP 200 to your PayMaya account within three (3) business days.
The transfer will take 2-4 business days but as tested by Ron of www.wahpinas.com, transfer only took a minute before it reflected in his account. He had it documented on video as proof.
The PayPal collaboration is among the growing initiatives being pushed by PayMaya Philippines to further grow the use of digital financial services in the Philippines. The PayMaya app remains the no. 1 Finance app in the Play Store – Philippines, posting over 260 percent year-to-date growth in users and with throughput volume for the third quarter more than double the previous quarter. Most recently, PayMaya was recognized as the world’s best online payments solution by the Emerging Payments Awards.
Compared to my EON account, PayMaya does not have an annual fee and it is easier to get support when needed. You can contact them via Facebook or other social media platforms and they have a better app. The only downside for me is the fee. I hope that in time they will be able to reduce it.