With the government’s initiative to convert Baguio City into the country’s first Smart City, SquidPay is working with the city government to convert up to 50% of the residents to use their contactless payment solutions by year-end, using their SquidCard to make payments for products and services across the city.
Moving forward, SquidPay intends to utilize the new funding to scale across the country, establishing kiosks and business centres in key locations by 2021.
“This news surprised us too. We did not expect any funding to come until the late first quarter of next year. This gives us confidence that there are people who strongly believe in what SquidPay can achieve,” mentioned SquidPay Technology Inc. CEO Marvin Dela Cruz.