The University of the Philippines (UP) in Diliman, Quezon City is the first state university to go fully cashless with the new PayMaya-Powered identification (ID) cards.
The Philippines’ premier state school has now taken the first step towards a cashless society with the first batch of the “powered up” UP IDs given to the UP System employees – FREE of charge.
This prepaid virtual credit card, which was initially envisioned as a student meal card, can now be used for internal campus transactions such as those in cafeterias, libraries, and on-campus offices equipped with QR and point of sale technology as well as for access and timekeeping.
On the first day of release of the new UP IDs last August 27, PayMaya founder and CEO Orlando Vea presented the new RFID/NFC-powered ID cards that double as a cashless payment mechanism to UP President Danilo Concepcion. The UP ID upgrade was first announced after the agreement was forged in June 2019.
Vea, a UP Diliman School of Economics alumnus, said in a UP report that the fintech company has waived all charges on the released IDs because this is a realization of his vision of having his alma mater take the lead in the national initiative toward digital financial inclusion and be prepared to engage in an increasingly cashless economy.
UP President Concepcion said, “As the top educational institution in the country today, UP will lead the way toward a tech-enabled university of the future, and we thank our partners at PayMaya for helping us achieve this objective.”
The PayMaya-powered school IDs which have now replaced the barcode system are also being used by students from private colleges and universities such as Lyceum of the Philippines University Batangas, STI, and Gordon College. Aside from using the ID to record school attendance, it also enables the user to link up to a PayMaya account to shop online, pay bills, and transfer funds.
SEND congratulations in the comments below to UP and PayMaya for working together towards digital financial inclusion!
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