Is PayMaya legal?

The combination of these licenses positions PayMaya as a versatile and reliable financial services provider in the Philippines. With its robust regulatory framework and comprehensive suite of services, PayMaya is well-equipped to meet the diverse financial needs of its customers.

As a result of its regulated status, PayMaya holds several licenses that allow it to offer a wide range of financial services to its customers. One of these licenses is as an Electronic Money Issuer (EMI), which authorizes PayMaya to issue and manage electronic money products.

In addition to being an EMI, PayMaya is also licensed as a Remittance Agent. This license enables PayMaya to facilitate the transfer of funds between individuals and businesses, both domestically and internationally. This service is particularly useful for those who need to send money to loved ones or make cross-border payments.

Furthermore, PayMaya is licensed as an Operator of Payment System. This license allows PayMaya to provide payment services that enable customers to make transactions using various electronic channels, such as mobile phones, the internet, and point-of-sale terminals.

PayMaya, a prominent financial technology company, operates under the strict supervision of the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines. This regulatory oversight ensures that PayMaya adheres to the highest standards of financial integrity and compliance.