Team effort – Pay8 teams with CEZA
Pay8 has signed a Memorandum of Understanding with Secretary Raul Lambino of the Cagayan Economic Zone Authority (CEZA)
Pay8, a Fintech subsidiary which focuses on payment solutions, is supplying the CEZA Zone with last mile connectivity using their proprietary platform to permit online payments in remote areas.
The venture is in line with the programs of the Duterte administration for financial inclusion, giving the 80% of the unbanked population in the Philippines access to the banking network, including residents, locators and small businessmen, fishing operators and transportation operators.
Pay8 serves as a payment gateway by using a portable point of sale (POS) system, enabling mass transactions online for often isolated communities. It also merges with the ecotourism push, allowing hotels and resorts in CEZA to accept and receive tourist payments under bancnet and Visa/MC.
HatchAsia President, Kirk Arambulo commented, “We are excited to be part of the pivot of CEZA towards being the Fintech leader in Asia. We look forward to working hand in hand with them to provide an effective platform for financial inclusion.
Arambulo added, “This Filipino developed platform is scalable and can be a showcase for other emerging markets in Asia and is aimed at helping CEZA constituents compete in the digital world.”
Pay8 is a majority-owned subsidiary company of HatchAsia Inc., which has filed for its listing by introduction with the Philippine Stock Exchange (PSE).
HatchAsia is a gaming and IT services company dedicated to reshaping the digital landscape through innovative technology and business process solutions. Located in Taguig City, the company provides customer service and helpdesk support, field technical support, data center provision and maintenance, as well as cash management and financial support to its customers.
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