PayMaya introduced its digital banking service.
PAYMAYA — Following its rebranding to Maya, the financial technology (fintech) company recently introduced its digital banking service.
On Friday, PayMaya announced its rebranding to Maya as it goes beyond digital wallet and payments services with the integration of its digital bank and crypto trading feature within its Maya app.
“Today, we are not just launching a brand, app, and digital bank. We are unleashing the power of financial technology to benefit all Filipinos,” PayMaya CEO and founder Orlando Vea said. “We are here to democratize digital financial services.”
The rebranding came on the heels of the recent USD 210-million funding round of Maya’s parent company Voyager Innovations.
Maya’s digital bank Maya Bank was also officially launched, 6 months after it secured a digital banking license from the Bangko Sentral ng Pilipinas (BSP) last September 2021.
Under the Maya Bank feature, users can open a savings account with a 6 percent introductory interest rate and can access credit of up to PHP 15,000 as well. Also, the digital financial services platform offers a crypto feature wherein users can sell, buy, and hold crypto for as low as P1.
READ ALSO: PayMaya Aims To Be “All-In-One” Money App, Rebrands To Maya
The latest features are available alongside Maya app’s core digital wallet features such as load purchase, bills payment, money transfer, and merchants payment, among others.
Maya Bank president Angelo Madrid said that the Maya brand represents the “next stage of financial services” in the country, adding that they will accelerate financial inclusion in the Philippines as they provide more Filipinos with “meaningful products and services that will improve their access to savings and productive capital”.
Thank you for visiting Newspapers.ph. You may express your reactions or thoughts in the comments section. Also, you may follow us on Facebook as well.
