PayMaya Rebrands as Maya and Launches Its Digital Bankby Fintech News Philippines May 5, 2022
Philippines digital wallet PayMaya announced that it has now rebranded as Maya and officially launched its digital bank touted as “Maya Bank”.
In September 2021, PayMaya was granted the sixth digital bank license by the Bangko Sentral ng Pilipinas (BSP).
Maya said that it will soon roll out the @username feature” where customers will just need to type the recipient’s username instead of mobile number along with a dark mode option.
The new Maya app seamlessly integrates digital banking services powered by Maya Bank, such as savings and credit, with PayMaya’s e-wallet and other features like cryptocurrency, micro-investments, and insurance.
Maya Bank will power all the digital bank services across the Maya app, Maya Business, and Maya Center.
The new Maya brand will be reflected across its ecosystem – including its enterprise payments solutions with Maya Business (formerly PayMaya Business) and across its widest on-ground network of Maya Center (formerly Smart Padala) agents across the Philippines.
The launch of Maya comes at the heels of Voyager Innovations’ US$210 million funding round, earning it unicorn status with a valuation of approximately US$1.4 billion.
“Over the past years, PayMaya has evolved to adapt to the ever-changing market needs of consumers and enterprises.
We are leaping forward with a new experience by building the country’s all-in-one money platform under Maya. And today, we are introducing our new Maya app that combines the best of e-wallet, crypto, and digital banking,”
said Shailesh Baidwan, President and Maya Bank Co-founder and Board Director of PayMaya.
“The Maya brand represents the next stage of financial services in the Philippines.
With Maya, we will accelerate financial inclusion in the country as we provide more Filipinos with meaningful products and services that will improve their access to savings and productive capital,”
said Angelo Madrid, President of Maya Bank.