PayMaya Philippines, the financial technology unit of PLDT Inc., is on track to break even in the next three years driven by aggressive service offerings to further grow customer usage.
Shailesh Baidwan, PayMaya president, told reporters at the recent launch of its new marketing campaign, the business segments such as network, enterprise and consumer are in varying stages of accomplishing their respective targets.
“On the enterprise and merchant (level) we hope to get there (break even) pretty soon. On the wallet side, we still need to invest more to expand the usage. ..Different businesses (are in) different stages. Our plan is, we want to absolutely get there (break even)” Baidwan said.
The company targets to hit P1 trillion transaction volume annually by 2023.
Without disclosing numbers, Baidwan said 2019 transaction volume was better than 2018’s and that it is expected to further grow this year.
“ Every year, we push ourselves to grow and last year (was) a good year for us. .. more and more people are finding (PayMaya) convenient, safe… we have (an) aggressive growth target this year,” Baidwan said.
