Maya aims to expand credit access in PH

Maya's Game-Changing Credit Card Democratizing Access to Premium Credit in PH

In a move that's set to revolutionize the financial industry, Maya, a leading fintech platform in the Philippines, has launched a premium credit card designed to provide more Filipinos with access to superior credit. The new card seamlessly integrates with the Maya app, offering a faster approval process and catering to mobile-first consumers.

Breaking Down Barriers Challenging Traditional Banking Models

Maya Black aims to disrupt traditional banking models by making premium credit options accessible to a broader range of people, particularly those without established credit histories. Maya Black is about democratizing access to one of the most desirable cards in the market, says Shailesh Baidwan, Maya Group president and co-founder of Maya Bank.

Transforming the Credit Card Experience

The credit card leverages Maya's advanced data and artificial intelligence-driven credit models to assess applicants, including those without traditional credit records. For individuals without a credit history, Maya offers a secured card pathway, allowing users to build their credit directly through the app. We've re-engineered the credit card experience for a generation that expects digital-first banking, says Angelo Madrid, Maya Bank president.

Innovative Features and Benefits

Once approved, users receive an instant virtual card, with the physical numberless card arriving shortly after. All card details are securely stored in the app, where users can freeze or replace their cards in real-time. The card also enables users to track their spending, access billing information, and manage support queries – all digitally.

Rewards and Perks

Maya Black offers several benefits, including the ability to earn Maya Miles for every transaction, which can be redeemed for travel rewards or used as currency across the Maya merchant network. It also provides access to airport lounges through partnerships with services like DragonPass.

Addressing the Credit Gap in PH

Despite the growing demand for credit cards in the Philippines, access remains limited. According to a recent survey from the Bangko Sentral ng Pilipinas (BSP), 56% of Filipino adults find it difficult to qualify for a credit card, and only 15% of the population holds one. Although credit card usage has increased by 20% in recent years, penetration remains low compared to the country's population.

Maya's Solution Bridging the Gap

Maya Black seeks to address this gap by offering an AI-driven credit solution that removes traditional barriers, while scaling credit access for younger generations – particularly Millennials and Gen Z. The launch follows the success of the Landers Cashback Everywhere Credit Card, which has issued nearly 200,000 cards.

Conclusion

With Maya's new premium credit card, the company is solidifying its position as a key player in the rapidly evolving digital banking and fintech landscape in the Philippines, making high-quality financial services more accessible to a wider audience.

Edward Lance Arellano Lorilla

CEO / Co-Founder

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