Belando, Lhady Heart B.

BSA-1B
Economic Development (News Clipping)

US-based Filipinos can now easily pay amortizations in PH

1. What is the news all about?

● The news is all about the US-based Filipinos, who can now settle their monthly
amortizations in the Philippines for free. With the help of a financial technology
company or FinTech company, BayaniPay launched a new payment service, and
all Filipinos abroad are allowed to use this payment service. The Chief Executive
officer (CEO) of BayaniPay is Mr. Winston Damarillo. The FinTech startup and
BDO unibank Inc collaborated to provide the bill payment solution. Additionally. It
collaborated with the real estate investors SM Development corp. and Ortigas
Land Corp. BayaniPay is a Filipino -owned FinTech company based in Los
Angeles.
During the interview. Mr. Damarillo said that "We want to be the corridor from the
United States to the Philippines. "We see a huge potential in this highly untapped
market marked by several barriers for overseas Filipinos" This Statement means
that the reason they launched a new feature of BayaniPay is because they want
all the Filipino immigrants to conveniently pay their property investments in the
Philippines at zero transaction fees and with competitive exchange rates.

2. What is its relevance?

● The relevance of this news to our kababayan abroad is that it helps them invest
in their property easily. When we say easily, they don't need to travel from their
house to other places or other countries just to pay for their investment; instead,
they just need their cellphones and internet connection. By doing that, they can
pay safely and perform the fastest transactions. Our kababayan can pay their
investment here in the Philippines even though they are in another country, like
the US. BayaniPay's service is relevant to all of our kababayan abroad because
BayaniPay has zero transaction fees and competitive exchange rates.

This news can have a positive impact on the Philippines' economy. It is because
of the new feature that BayaniPay has. This new feature helps our kababayan
abroad to lessen their costs. When we say lessen their cost, it can mean a
decrease in the fee that they need to pay to process their investment. When the
payment decreases, they can use the money for other things, like when they
need to send money to their family.

3. What specific problematic situation you can address?

● Site and application errors will be the possible specific problematic situations that
I addressed. Because if there are a lot of people using the application and site,
there's a huge possibility that it will crash. An error will occur. Our kababayan
abroad will not successfully process their transactions. So, overall, they will not
enjoy the new feature of BayaniPay.