Video recorded and edited by KIM Quilinguing, UP MPRO
UP System employees were the first recipients of the new UP ID produced by PayMaya, free of charge, for the University.
In a ceremonial presentation, UP President Danilo Concepcion, Executive Vice President Teodoro Herbosa, and Vice President for Development Elvira Zamora received their new IDs from PayMaya founder and CEO Orlando Vea on August 27, the first day of release.
Asked why the fintech company is doing this for free, Vea, a UP Diliman School of Economics alumnus, said that he wants his alma mater to be part of the national initiative toward digital financial inclusion—to be the first university in the country ready to engage in an increasingly cashless economy.
New UP ID holders will have the option to avail of PayMaya’s financial services that are external to the University, but not required by UP. Rather, this option is a provision that gives holders the flexibility to expand the use of the IDs for added personal purposes.
Concepcion, Herbosa, and Zamora, chose to activate their PayMaya accounts and made the first financial transactions with the new UP ID. They loaded money into their accounts through the money-in kiosk at Quezon Hall and made purchases at the Chocolate Kiss Café, Ang Bahay ng Alumni. UP System employees who likewise activated PayMaya services were assisted by PayMaya personnel in a booth at the Quezon Hall lobby.
The rollout schedule of the new IDs to all UP campuses is still being discussed with the constituent universities.
The memorandum of agreement between the University and PayMaya was signed on June 20.