PayMaya rebrands as Maya, expands digital banking and crypto trading

Online E-wallet and payments services PayMaya on Friday officially announced its rebranding to an all-in-one money app called Maya.

The new Maya integrates the features of PayMaya and expands to new features like digital banking and crypto trading. These are powered by Maya Bank which allows users to spend, save, grow, invest, and master their money just using their smartphone.

It was only last September 2021, when Maya Bank was launched, after securing its digital banking license from the Bangko Sentral ng Pilipinas (BSP).

Some of the new features available according to Maya are:

• Maya Savings is a high-yield savings account with a 6% introductory interest rate, the highest offered by a local bank today. This initial offer is available until August 31, 2022. It is powered by the BSP-licensed digital bank Maya Bank, allowing you a seamless experience in-app when saving your money. Eligible PayMaya customers will be able to move money from their e-wallet to Maya Savings with just a couple of clicks in the app and earn interest on their balance! All you need is an upgraded Maya account to access this feature – and it requires no maintaining balance.
• Maya Credit is a virtual credit line that lets you borrow up to P15,000 within the app. You can use this to pay your bills, buy groceries, purchase load, or upgrade your smartphone! This credit line can be accessed in as fast as 60 seconds for eligible users – giving you cash in a flash whenever you need it.
• Maya Crypto is the easiest way to start your crypto journey. You can buy, hold, and sell popular coins, including Bitcoin, Ethereum, Solana, Tether, and more, for as low as P1 all within the Maya app!
• Maya Wallet continues to have all the e-wallet features that made PayMaya the top-rated local finance app in the country – only now, it comes with a revamped customer experience. You can still enjoy free cash-in through over 90,000 touchpoints nationwide so that you spend your money on the things that matter.

According to Maya more features are coming to the app such as dark mode, a goal-based savings feature, and more.

“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,” Maya Bank president Angelo Madrid said.

Maya is available to download for early access users starting today.

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