PayMaya just partnered with Bonds.ph in order to enable customers to invest in the upcoming Government Retail Treasury Bonds.
Bonds.ph is a new online investment platform powered by the Philippine Digital Asset Exchange (PDAX). By partnering with the platform, PayMaya users can now invest to avail of the government’s next Retail Treasury Bond (RTB) offering. Prospective investors can invest in amounts as low as PHP 5,000 up to an aggregate of PHP 500,000.
PayMaya account holders can easily add funds to their Bonds.ph accounts using their PayMaya-registered mobile numbers, thereby democratizing access to government RTBs even to those who do not yet have a bank account.
“We have always envisioned to provide Filipinos with affordable and secure investment instruments where they can invest and at the same time aid the government in raising funds especially at this time. So, we opened up our next Retail Treasury Bond offering to an online platform like Bonds.Ph that allows investors to use e-wallets like PayMaya to invest in RTBs,”said National Treasurer Rosalia de Leon.
“Opening up various online channels that allows Filipinos to invest will ensure a wider participation from individual investors, particularly for this offering,”she added.
“This is a new exciting path that the government is taking towards financial inclusion and we are delighted to be chosen as an enabling technology partner,”PayMaya Founder and CEO Orlando B. Vea said for his part.
PayMaya account holders simply need to download the Bonds.Ph app from the App Store for iOS users and Google Play Store for Android Users, register and verify their accounts, and easily cash in using their PayMaya-registered mobile numbers.
To add funds to your Bonds.Ph account using PayMaya, simply follow these steps:
- Go to the Cash In section of the app and select Pay with PayMaya. A minimal fee of PHP 5.00 per transaction will apply.
- Choose the amount you want to cash in, then complete the payment process after receiving the payment details in your email.
- Once your account has been funded, choose the bond offering you want to invest in, review the transaction details, and click “Buy”
- The subscription will have an “Awaiting Subscription” status until the final allocation is completed. All orders are considered final upon placement and can no longer be cancelled.
To check the status of your investment, click the “My Orders” button in the Bonds.Ph app. An email will also be sent to you for the notice of successful purchase of the Bond.
You may then withdraw the proceeds once it matures from the app straight to your PayMaya account. Simply choose PayMaya as the account where you will cash out your earnings. To start investing in government RTBs through the Bonds.Ph app even without a bank account, create a PayMaya account today.