PayMaya Integrates New Features into App, Rebrands as “Maya”

Fintech company PayMaya is looking to expand its services apart from simply offering digital payments to become an all-in-one money app for users. With this, the company has rebranded into “Maya” after Voyager Innovations — PayMaya and MayaBank’s mothership — raised $210 million and gained unicorn plus status.

Under the Maya app, Maya Bank’s digital banking services will be integrated into PayMaya’s e-wallet features alongside other services involving cryptocurrency, micro-investments, and insurance. PayMaya founder and CEO and Maya Bank Co-founder and Board Director Orlando Vea explained that Maya will help to “revolutionize how Filipinos manage their money.”

“We are here to democratize digital financial services as you have never seen before,” added Vea. “We are leaping forward with a new experience by building the country’s all-in-one money platform under Maya. And today, we are introducing our new Maya app that combines the best of e-wallet, crypto, and digital banking,” furthered Shailesh Baidwan, PayMaya President and Maya Bank Co-founder and Board Director.

The launch of Maya Bank — which will power the digital banking services of the new Maya app as well as Maya Business (formerly PayMaya Business) and Maya Center (formerly Smart Padala) — coincided with the app’s rebranding. “The Maya brand represents the next stage of financial services in the Philippines,” said Maya Bank President Angelo Madrid. “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.”

The Maya app includes Maya Savings, Maya Credit (for qualified users), Maya Crypto, and Maya Wallet. Additional features, such as allowing users to locate users by inputting their usernames and a dark mode option, are expected to be integrated down the line in an effort to lure more consumers.

Source: Manila Bulletin