After going beyond its e-wallet and payments services, PayMaya has officially rebranded itself to “Maya.” Its expansion includes the integration of digital banking and crypto trading.
PayMaya CEO and founder Orlando Vea stated that the company aims to unleash the power of financial technology (Fintech), believing that this will benefit many Filipinos. In addition, Maya also aims to democratize digital financial services.
It was only last September 2021, when Maya Bank was launched, after securing its digital banking license from the Bangko Sentral ng Pilipinas (BSP).
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The digital bank’s feature includes users opening up their savings account with 6% introductory interest rates, and a possible credit limit of up to Php 15,000.
Users can buy, sell and even hold cryptocurrency on Maya for as low as Php1.00. This is alongside Maya’s other core features, such as money transfer, load purchase and bill payment.
Maya Bank president Angelo Madrid stated that this innovation will be the next stage of development for financial services in the Philippines.