Manila — Maya, the e-wallet and digital bank operated by PLDT’s fintech arm, has become more attractive to customers following the recent service interruption of rival GCash. During the PLDT Annual Stockholders’ Meeting, Manny Pangilinan, the Chairman of PLDT, said that the GCash incident generated interest in Maya, which has encouraged plans to raise an additional $100-150 million in funding for expansion. Although Pangilinan did not disclose details of how Maya benefited from the GCash issues, he confirmed that they plan to offer new products such as loans to diversify their customer base.
PLDT President Al Panlilio acknowledged that Maya’s loan book was a concern, but they have been increasing loan disbursements in recent months. Panlilio added that Maya would be introducing SME offerings to strengthen their bank first, before considering going public. Pangilinan believes it will take two to three years for Maya to contribute to PLDT’s growth.
Maya Bank deposits grew significantly from P14.7 billion at the end of 2022 to approximately P26 billion in April. While Maya still has a long way to go to catch up with GCash’s over 80 million users, they are committed to growing its customer base and improving its fundamentals before going public.
Here are fifteen benefits of using Maya:
1. Easy Account Creation
Creating a Maya account is a straightforward process that takes just a few minutes. You only need to provide basic personal information and undergo a simple verification process to get started.
2. Secure Transactions
With Maya, your financial data and transactions are kept secure via encryption techniques that ensure the safety of your money. Its security protocols are compliant with industry standards to prevent fraud and other malicious activities.
3. Global Reach
Maya’s e-wallet and digital bank give you access to convenient money transfer options with people in different parts of the world. You can send and receive funds from anywhere, anytime.
4. Instant Transfers
This offers instant money transfers, allowing you to send and receive money from your contacts without any delays. This feature is ideal for time-sensitive and urgent transactions.
5. Low Fees
Maya charges low fees on transactions compared to traditional banks, making it an affordable option for those who want to save on transaction costs.
6. Multiple Payment Options
You can fund your Maya account using various payment methods, including credit cards, debit cards, and e-wallets. This flexibility makes it easier for you to deposit funds into your account.
7. Digital Bank
It also offers a digital bank where you can manage your finances and access services such as loans, savings accounts, and investments. This feature allows you to have all your financial needs in one place.
8. Convenient Bill Payments
You can pay bills directly from your Maya account, making it a convenient way to manage your monthly expenses.
9. Expense Tracking and Budgeting
With Maya’s digital bank, you can easily track your spending and create a budget to manage your finances better.
10. Cashback Rewards
Maya offers cashback rewards on transactions done using the wallet or digital bank. This feature allows you to save more on your transactions.
11. Seamless Integration with Merchants
Maya integrates seamlessly with merchants, making it easier for you to pay for goods and services online or in-store.
12. QR Code Payments
Allows you to make payments using QR codes, making it more convenient than carrying cash around.
13. Multiple Currencies
Supports multiple currencies, allowing you to transact in your local currency or any other currency of your choice.
14. User-friendly Interface
It has a user-friendly interface that makes it easy for anyone to use, regardless of their technical expertise.
15. Customer Support
Maya has excellent customer support that is available round the clock to answer any inquiries or issues you may have.