KayaMoney opens e-commerce payment service

Here’s a press release from some friends. I’ll comment on this "soon".

Makati City, May 17, 2006 – Kaya Information Technology Services (Kaya ITS) announced today that it has officially opened its online and mobile payment system, called KayaMoney, to entice consumers and business owners to better take advantage of the Internet with its simplified ways of doing business online. KayaMoney has been in beta test since September 2005 with users conducting minor trading and payments.

KayaMoney, found at http://www.kayamoney.com, allows any internet and mobile phone user to do business. Focused on those who cannot make online purchases due to lack of credit, ATM, or debit cards, KayaMoney allows them to fund their online accounts with KayaMoney e-vouchers which are available at KayaMoney Exchange Centers. KayaMoney Exchange Centers are participating cybercafes, banks, and e-loading shops.

"We are committed to serving those who want to do online payments and e-commerce, but are constrained due to lack of cards or being limited to just one mobile network," said Jay Juan, Managing Director of Kaya ITS. “With KayaMoney, users can immediately make micro- and even nano-payments using their Internet-enabled PCs or using SMS via KayaMoney TXTPay. They can even share their funds with other KayaMoney members such as their relatives and friends. Our KayaShop allows them to sell products and services immediately at no extra cost with our free Bronze membership.”

Mr. Juan further said that, “KayaMoney fulfills the need of many micro, small, and medium enterprises to be able to process payments online and offline with KayaMoney TXTPay. We have released free tools for Web developers, merchants, and budding entrepreneurs for such applications as hotel bookings, shopping carts, online bookstores, subscriptions, billings, utility payments, auctions, classifieds, and music downloads. Moreover, our API release can allow them to be very creative at building new online businesses.”

“We are inviting the open source community in the Philippines to help us release downloadable e-commerce and m-commerce applications for many of our citizens to use,” added Mr. Juan, who believes that open source is very important for the country to tap online opportunities.

“Overseas Filipinos can support new local online merchants by using KayaMoney as we have the online e-voucher central for them to acquire vouchers and fund their own KayaMoney accounts. Imagine OFWs being able to pay for groceries or utilities online for their families in their own hometowns. We believe that KayaMoney answers the need of many small enterprises and individuals in tapping the Internet and mobile networks to do electronic commerce. Rather than e-commerce being the exclusive domain of those who have credit cards, or those who can afford to process cards, our approach has been a very inclusive one from the very beginning, serving the underserved internet and mobile phone users and enlarging the e-commerce pie,” Mr. Juan said.

In the near future, KayaMoney shall be releasing its KayaMo Card, which is an identification and privilege card for its members. Kaya ITS is presently in talks with financial institutions to support its KayaMo Card and allow its members retrieve their online funds via automated teller machines (ATMs).

About Kaya ITS:

Kaya Information Technology Services (Kaya ITS) is comprised of young and dynamic people with extensive experience in information technology services. The group owns the Kariran Interactive Network. Its main focus is on web design, and at the same time it takes on software development projects and IT consulting projects. It emphasizes the use of open source software to help companies lower development and deployment costs of systems.