Standing on the road to Thayekhittaya, about 1.5km east of the Myanmar bus station in Pyay, Payagyi Paya served as one of the four corners that bounded that Myanmar ancient town.  

Payagyi pagoda was built in the early part of the Thayekhittaya Pyu period. Though it belongs to the same period of Baw Baw Gyi pagoda, its construction date is later than that of the latter. It is one of the earliest pagodas of Myanmar and different from Baw Baw Gyi pagoda in style and feature. The pagoda is another prototype of late Myanmar pagodas. Oral tradition and old chronicles claim it to be one of the 9 pagodas to be built by King Duttaboung. Given that it was built slowly, it came to be called Sai Sai pagoda ( Slow Slow pagoda). In course of time it came to be called “Payagyi Pagoda”.

Its form like breast is slightly swollen, with some vegetation growing out of cracks in the exposed bricks. Three terraces encircle it from its base; “ladies” are not allowed on the upper one. 

This Pagoda of Shwe Kyin, a town in Bago Region is famous for its festival, the candles floating along the Shwe Kyin River annually in Thadingyut, Myanmar month, which coincides with October.