PayMaya launches in-app gaming service

Mobile wallet and financial services provider PayMaya on Friday launched an in-app all-in-one gaming service.

At a virtual event, PayMaya launched “PlayMaya,” which it described as a “fintech-first” innovation and a one-stop shop for gaming-related purchases.

The launch of PlayMaya came months after PayMaya launched PayMaya Mall in February, which is also a one-stop shop for online shopping.

The new in-app feature is accessible through the “Play” tile in the PayMaya app.

PlayMaya provides access to digital gaming products, deals and cashback rewards for in-game purchases, free mini-games to play, access to tournaments, and curated content from gaming personalities.

“PayMaya has always been at the forefront of lifestyle-enabling innovations through financial technology. On top of providing more reliable, safer, and more convenient cashless payments, we are enriching the digital experience of our millions of users through delightful features and offers such as PlayMaya,” said Shailesh Baidwan, president of PayMaya Philippines.

With PlayMaya, the digital financial services leader is tapping into the growing number of Filipinos who have taken interest in mobile games and elevating their experience with PayMaya's exclusive content, cashless convenience, and unmatched cashback rewards.

The Philippine mobile games industry is a high growth area, as internet adoption takes deeper roots with network investments from telecommunications companies such as PLDT and Smart.

In a report published by YouGov in 2020, 80% or four out of five Filipinos engaged in mobile or video games last year.

Meanwhile, data from a study by Newzoo in 2020, revealed that the Philippines is the world’s 25th largest market in-game revenue and a key driver of Southeast Asia’s overall games market in 2019.

PayMaya has also seen the trend from its users.

In the first quarter of 2021, PayMaya said its gaming-related transaction volume registered a high double-digit year-on-year growth.

The digital payments company is expecting the number to exponentially grow this year, given the launch of PlayMaya to empower the gaming segment.

"As we continue building our unmatched enterprises and consumer payment solutions and offer new adjacent financial services, we are strengthening consumer affinity with relevant and enjoyable features anchored on cashless payments," Baidwan said. — DVM, GMA News