PayMaya launches online shopping insurance for customers

This will be available for PayMaya people in the Philippines for totally free.

E-wallet and electronic financial services business PayMaya Philippines has launched an on-line purchasing insurance policies for its customers at no added expense. 

Named Consumers Shield, customers procuring using their PayMaya account can get reimbursed up to PHP8,000 ($152.55) for each declare, with an annual protection of PHP16,000 ($305.11), for undelivered, incomplete, or ruined buys at eligible on-line sellers. 

Buyer Defend is presented absolutely free of charge to all upgraded PayMaya consumers. Protection applies for a bare minimum expend of PHP100 ($2) from legitimate on-line sellers with their own web sites or official shops on Lazada, Shopee, Instagram, Fb Market, Carousell, and comparable sites with payments completed by way of PayMaya virtual or bodily card, mobile variety, or QR.

According to PayMaya, the launch of Consumer Protect is portion of its drive to make digital transactions far more effortless and safer for Filipinos. Previous 12 months, the corporation introduced PayMaya Verified Sellers, a special badge for legit and reliable on the net sellers as portion of the company’s attempts to aid the Philippines expanding e-commerce industry.

Purchaser Protect is underwritten by general insurance company AIG Insurance policy Philippines, Inc. and developed by PayMaya alongside one another with intercontinental insurtech, bolttech.