Paymaya has been rebranded Maya Bank

2 May 2022

PayMaya, a digital financial services provider, has been rebranded as part of the official launch of Maya Bank, a newly licensed digital lender by the Bangko Sentral ng Pilipinas.

Maya Bank has rebranded and launched a new all-in-one money app for consumers that seamlessly combines Maya Bank’s digital banking services, such as savings and credit, with PayMaya’s e-wallet and other features, such as cryptocurrency, micro-investments, and insurance.

Maya Bank is responsible for all Maya app, Maya Business, and Maya Center digital banking services.

Clients can open a high-yield savings account with a 6-percent beginning interest rate, the highest currently available on the market, through the new Maya app.

It also provides a direct-access virtual credit line with a P15,000 initial credit limit for eligible consumers. Customers can also use the app’s seamless crypto feature to buy, sell, and hold crypto for as little as P1.

Finally, it includes a well-known and trusted e-wallet feature that allows customers to send and receive money instantly, buy goods and other digital assets, pay bills, and cash in for free at over 90,000 touchpoints nationwide.

“Today, we’re not just launching a brand, an app, and a digital bank; we’re unleashing the power of financial technology to benefit all Filipinos, and we’re here to democratize digital financial services like you’ve never seen before,” said Orlando Vea, PayMaya’s founder and CEO and Maya Bank’s co-founder and board director.

“We are leaping forward with a new experience by building the country’s all-in-one money platform under Maya,” said Shailesh Baidwan, PayMaya president and Maya Bank co-founder and board director. “And today, we are introducing our new Maya app that combines the best of e-wallet, crypto, and digital banking.”

Maya Bank President Angelo Madrid said, “With Maya, we will accelerate financial inclusion in the country by providing more Filipinos with meaningful products and services that will increase their access to savings and productive capital.”