Maya

Maya is the Philippines' leading all-in-one digital financial platform, combining a regulated digital bank, e-wallet, merchant payments infrastructure, and in-app cryptocurrency trading under a single, BSP-licensed umbrella. Originally launched in December 2000 as Smart Money — then billed as the world's first card linked to a wireless phone — the platform passed through several evolutionary phases, emerging as PayMaya in 2016 and finally rebranding to Maya in April 2022 alongside the formal launch of Maya Bank.

The platform operates through two legally distinct but commercially integrated entities: Maya Philippines, Inc. (MPi), which manages the wallet, business payments, and agent network; and Maya Bank, Inc. (MBi), which holds the digital banking license and offers savings and lending products. Both are ultimately owned by Voyager Innovations, a fintech subsidiary of PLDT and Smart Communications, two of the Philippines' largest telecommunications conglomerates.

Payments and Wallet

The Maya Wallet serves as the consumer front door. Users can send money instantly via QR code or phone number, pay bills, buy mobile load, and claim remittances through a nationwide network of over 55,000 Maya Center agent touchpoints. The platform's physical Maya card extends wallet access to point-of-sale spending, and payment links, QR codes, and online checkout integrations give merchants a flexible acceptance layer through the Maya Business platform.

Digital Banking

Maya Bank positions itself as a mass-market, no-minimum-balance institution. Savings accounts earn a base annual interest rate of 4.5%, with promotional campaigns reaching up to 15% per annum. The bank reached PHP 10 billion in deposits within five months of launch in 2022, a pace that continued: by end-2025, deposits stood at PHP 68 billion — a 72% year-on-year increase — serving 10.7 million bank customers.

The credit product range spans buy-now-pay-later instalment splits, a PHP 30,000 revolving credit line, and two co-branded credit cards: Maya Black, oriented toward travel rewards, and the Landers Cashback Everywhere card for everyday retail. Maya Advance extends collateral-free working capital loans to micro-merchants through the business app, using AI-powered credit scoring built on behavioural and transaction data. AI-driven underwriting allows Maya to serve borrowers who lack conventional credit histories, a structural differentiator in a market where a significant share of the adult population remains outside the formal banking system.

Cryptocurrency Trading

Maya holds a Virtual Asset Service Provider (VASP) license from the Bangko Sentral ng Pilipinas and operates crypto trading directly within its consumer app. The service launched with 24 tokens and expanded to 33 by February 2026, supported by a custody partnership with Coinbase Institutional. The tradeable roster includes major-cap assets such as Bitcoin, Ethereum, Solana, XRP, and BNB; layer-2 tokens including Optimism; emerging layer-1s such as SUI and NEAR; and several high-volume memecoins including WIF, BONK, and PEPE. Entry is deliberately low-friction: users need only one government ID and a minimum PHP 100 investment, with no transaction fees on purchases.

Maya's approach treats crypto as a consumer investment feature tightly integrated within the broader financial app, rather than as a standalone exchange. Conversion back to Philippine pesos is frictionless, enabling users to treat digital assets as part of a unified balance sheet alongside savings and loan products.

Merchant Crypto Payments

In May 2026, Maya announced a partnership with Lydian — a payments infrastructure firm backed by Tether and Cantor Fitzgerald — to introduce digital asset acceptance for merchants on the Maya Business platform. Under the arrangement, businesses can accept stablecoin payments from consumers while receiving same-day settlement in Philippine pesos, eliminating volatility and custody risks. The consumer-facing experience surfaces a Pay with Crypto option embedded in QR codes, payment links, and online checkout flows. Maya provides the regulated compliance layer — wallet screening, Travel Rule reporting, BSP-aligned disclosures — while Lydian handles the digital asset settlement rails.

The partnership targets a structural gap: the Philippines consistently ranks among the highest in Asia for crypto ownership, yet day-to-day digital asset spending at physical and online merchants has remained negligible. Maya's scale as the dominant processor of digital payments in the Philippines gives the integration immediate distribution.

Financial Performance

Maya achieved profitability in under three years of banking operations, validating its thesis that financial inclusion and sustainable unit economics are compatible. Net income for full-year 2025 reached PHP 1.7 billion (approximately US$29 million), supported by three consecutive profitable quarters. Total loans disbursed since the bank's 2022 launch crossed PHP 256 billion by 2025, with the loan book at PHP 27 billion as of September 2025 — up 59% year-on-year. The company received external recognition commensurate with its growth: Forbes named Maya among its World's Best Banks 2024, and it has received three consecutive Best Digital Bank awards from Philippine fintech industry bodies.

IPO Trajectory

PLDT and Voyager Innovations are targeting a dual-listing initial public offering in the second half of 2026, with a Nasdaq component and a concurrent Philippine Stock Exchange listing. The transaction is guided at US$500 million to US$1 billion. Manuel V. Pangilinan, Maya's chair, has publicly committed to retaining a meaningful stake post-offering. Analysts have noted that investor appetite will hinge on the company's demonstrated profitability trajectory, governance around the crypto segment, and its ability to articulate credit quality metrics in a market where digital lending carries elevated scrutiny.

Market Position

Maya describes itself as the Philippines' number-one digital bank app by monthly active users. It competes directly with GCash — backed by Ant Group and Globe Telecom — for the Filipino consumer's primary financial relationship. Both platforms have expanded from pure payments into savings, lending, and crypto, but Maya's full banking license and integrated VASP authorisation give it a distinct regulatory footprint. The company frames its mission around serving the unbanked and unhappily banked: Filipinos excluded from formal financial services or underserved by incumbent banks, reached through a digital-first, zero-minimum model.