According to IFC website, IFC is seeking to invest in Voyager to support the growth of its financial service unit, Paymaya, which operates a mobile money platform, domestic remittance network, and merchant acquiring business in the Philippines.
i. Access to and Usage of Transaction Accounts: The project will support the roll-out of a mobile wallet that allows users to carry out financial transactions, including domestic remittances, bill payment, airtime load, etc., on their phones in a cost efficient and convenient manner, thereby deepening financial access for the population
ii. Integration - IFC anticipates that the project will result in significant market integration by linking mobile wallet users to a growing array of digital financial and non-financial services, including e-commerce. Voyager's open-loop approach allows for interoperability of transactions and provides access to both traditional and digital accounts, integrating its users into the digital economy.
iii. Competitiveness - As a leading innovator in the market, Voyager will foster competitiveness in the financial sector by triggering changes in the market through the use of its low-cost, open-loop payment platform, which will push its competitors to innovate and offer new products and services at lower costs.
Voyager Innovations Holdings, Pte. Ltd is 100%-owned by PLDT, Inc., a listed entity, through its subsidiary PLDT Communications and Energy Ventures, Inc.
Nick Bautista Wilwayco
Head for PR and Communications, Voyager Innovations
Email Address: email@example.com
Office Address: 9F Launchpad Building 9 Sheridan Street, Mandaluyong City, Metro Manila
ACCOUNTABILITY MECHANISM OF IFC
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