Cashless payment solutions company SquidPay Technology Inc. relaunched its services which include cashless payment for government services in the city.
During the relaunching program attended by SquidPay Chief Operating Officer/President Enrico Tamayo, project manager Shirley Medina said that with the approval of the company’s electronic money issuer (EMI) by the Bangko Sentral ng Pilipinas (BSP), SquidPay now functions as an electronic wallet that offers a wide range of financial services with minimal transaction fees including the following: sending money, paying bills, buying mobile load and paying for goods and services at affiliated stores.
SquidPay users may also cash in through bank deposits, over-the-counter sales at SquidPay kiosks, internet banking transfers, and payment centers. Integrated with Instapay, real-time transfers are enabled.
SquidPay users may send money to participating BSP-regulated banks and e-money issuers. Wiithdrawals, on the other hand, may be done thorough authorized banks, payment centers, SquidPay kiosks, and SquidPay debit cards via Bancnet, Visa, MasterCard.
The security of the users’ personal information is also ensured as this is based on the BSP’s strict standards.
Squidpay national operations manager Elmar Panganiban said that with the upgrading of the company’s system, expansion of coverage and services in the city can be expected including more visible loading stations, increased number of partner merchants which will include not only the big establishments but also the small and medium enterprises both in the business and transport sectors and the involvement of the city’s barangays.
Panganiban said they will soon announce the names of establishments onboarded to the city and their authorized agents where SquidPay can now be of use.
He said the company’s onboarding activities will now cover the city’s parks, public market, parking, transport, government services, private business and SMEs.
Mayor Benjamin Magalong said SquidPay is the cashless payment provider of the city’s Baguio in my Pocket (BIMP) program to digitalize government transactions as part of the city’s digital transformation thrust.
The BIMP application aims to modernize the city’s data base for multiple purposes like disaster preparedness, social services, business distribution, contact tracing and ease of doing business along with the registration digital ID cards and e-wallets and QR codes. – Aileen P. Refuerzo