KayaMoney opens e-commerce payment service
May 17, 2006Here’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.
Previous Comments
Hey Danny. Thank you very much for sharing this. Great to know that the number of payment gateway services are increasing.
Posted by Janette Toral at May 20, 2006, 3:32 pm'Twas my pleasure, Janette. At least two things attracted me to KayaMoney:
- they're Filipinos
they're employing SMS technology, which means that e-commerce is within the reach of the smallest of SMEs — e.g,, fishball stands, sari-sari stores, newspaper stands, and the like
SMS technology also means that buyers who don't have access to ATM, debit, or credit cards can engage in e-commerce
OK, make that three 
— but you get the picture. I find KayaMoney promising, and hope to track their progress in the coming months.
wow. id like to try that.. hope its available nationwide already.. id like to try it out in baguio
[4] Strictly speaking, it's not just nationwide but international even. That is, you can use KayaMoney wherever you are, all you need is an Internet connection — which you'll need only for a one-time registration — and a cellular SMS-capable phone. I haven't yet found KayaMoney-enabled Websites, but as they grow in popularity, you can expect those to crop up in the next few months.
The other thing is this: you might want to redeem your KayaMoney, or load your account with vouchers, but you don't have a KayaMoney Exchange Center in your locality — in your case, Baguio. It doesn't take much to set one up for yourself. Yes, you can open up a KayaMoney Exchange Center, and you won't need a huge investment. Far as I can tell, all you need is an Internet connection — and I'm not even sure you need a full-time (e.g., DSL or cable) connection. See the relevant page on their site. if you don't feel like setting one up yourself, go to your friendly Internet cafe and show them the KayaMoney site, especially the Exchange Center page.
Posted by descasa at May 20, 2006, 8:34 pmSounds convenient!
I personally liked the idea. i have question…:
when will they start promoting this in Davao?
It would be great if they’ll start soon!
The KayaMoney site seems to be down >:(
Posted by Daniel Escasa at November 23, 2007, 6:13 pmany updates on this? it’s still down
Posted by GB at December 31, 2007, 5:51 pmAll comments are moderated. Your comments will not appear here unless approved by the blog owner. Thank you.
looks good. i better check it out.
Posted by gungho at May 18, 2006, 8:56 am