PLDT powers ahead

Despite the COVID-19 pandemic and community quarantine, for the first nine month of this year, PLDT’s service revenues rose 9% to ₱126.6 billion driven by sustained demand for data and broadband, while telco core income up 8% to ₱21 billion. Its healthy earnings boosted its commitment to sustaining infrastructure investments and enhancing service improvements. The company provided for a capex of at least ₱70 billion for 2020 in response to increased demand for digital connectivity, on top of ₱260 billion total capex spent in last five years. The sustained investments enabled PLDT group to handle the strong surge in data traffic during the quarantine periods and provide communications support to government efforts. With people forced to work and study at home, and businesses relying on online services to keep operating and serving their customers, internet traffic surged.

“I see us at the forefront of digital empowerment, overcoming constraints on businesses and lives imposed by COVID,” said PLDT Chairman and CEO Manuel V Pangilinan. “We future-proof our business by establishing what we believe to be our strongest foundations - the best network, excellent products, and world-class customer service.”

The transaction volumes of PayMaya surged as more Filipinos made use of cashless payments during the lockdowns. Over 26 million registered customers accessed over 150,000 digital payment touchpoints nationwide and over 40 million merchants globally. The company launched the PayMaya Negosyo app for micro-entrepreneurs, enabling online sellers to receive digital payments via QR, bank transfers and PayMaya’s Send Money feature. Over 60 government agencies and local governments have partnered with PayMaya to serve the public in disbursing cash aid and accepting bill payments.

“As the only end-to-end digital financial ecosystem enabler in the country, PayMaya is best positioned to serve the needs of consumers, businesses, communities and government as people turn to cashless solutions not just to cope with the pandemic,” said President and CEO of PayMaya Philippines, Shailesh Baidwan.

Through its app and wallet, PayMaya provides millions of Filipinos with the fastest and most convenient way for everyday merchants, such as groceries, gas stations, pharmacies, quick-service restaurants, and e-commerce sites. Its Smart Padala by PayMaya network of over 33,000 partner touchpoints nationwide serves as last-mile digital financial hubs in communities, providing the unbanked and underserved with access to services. <<