Athea Kristina Salmayor, U.P. Cebu Intern / Writer
Tacloban-based fintech startup Paytaca launched its Bitcoin Cash-focused e-wallet at Robinsons Galleria Cebu on July 7, 2024. The event, dubbed as the “Bitcoin Cash Revolution,” introduced the application to the Cebuano community and promoted the use of Bitcoin Cash (BCH).
Hosted by Paytaca’s ambassadors, Cladge and Demi, the event was filled with games, prizes, and performances from local acts. It also served as an educational platform, informing attendees about the benefits of cryptocurrency, particularly its promise of freedom and flexibility, offering endless opportunities to users. “Unlike in banks, users hold their own funds in Paytaca. Paytaca can’t steal user funds or manage funds on their behalf,” said Paytaca Chief Marketing Officer Aaron JP Almadro. “Its peer-to-peer feature allows for easier storing and spending, making BCH accessible to users everywhere worldwide,” he added.
How it started
Taclobanon Dr. Joemar Taganna, who now serves as Paytaca’s President, Chief executive officer, and Chief Technology Officer, began the company’s journey with the rest of the board in 2018.
Since then, the company has developed into a cryptocurrency e-wallet, successfully expanding its reach from Tacloban to Ormoc and now, Cebu. The name Paytaca is derived from the Filipino word “Pitaka,” meaning wallet, and is also reminiscent of the Cebuano phrase “Pay Tika,” which translates to “I’ll pay you.” In the first episode of Paytaca’s online talk show, “PaytacaTalks,” Joemar Taganna discussed the etymology of the name, highlighting its focus on trade and payment.
Bringing the benefits of cryptocurrency
Paytaca’s primary currency is Bitcoin Cash, one of the top 20 cryptocurrencies in circulation worldwide. It is also considered the best cryptocurrency for peer-to-peer digital payments.
The company aims to promote the widespread usage of Bitcoin Cash for payments by translating its cost-efficiency as a digital currency into tangible value for merchants and customers alike. This is something that the company has demonstrated with the launch of its Marketplace where its users can order food and have it delivered and pay 20 percent less compared to other delivery apps, prompting a way of saving that is made possible by using Bitcoin Cash as currency.
“We launched this service in Tacloban already, where we have in-house riders. We will be launching in Ormoc City this August, and soon in Cebu as well,” explained Almadro. The company believes that cryptocurrencies will eventually replace traditional currencies similar to how new and more superior technologies replace outdated ones.
With this innovative e-wallet, Paytaca aspires to lead the local transition to a new decentralized financial system. Paytaca’s presence will be more prominent in Cebu as it has started onboarding partner merchants where Bitcoin Cash is already accepted. Paytca also co-presented Otakufest 2024 which took place from August 17 to 18, 2024, at SM Seaside Cebu.
Don’t miss out on the Bitcoin Cash e-wallet trend! Download the Paytaca app, available in the App Store and Play Store. For more information, check out its social media accounts on Facebook, X (formerly Twitter), YouTube, and TikTok.