From Now On, Paymaya Is Just Maya

Financial technology platform Paymaya is now just Maya. Executives of the startup unicorn say the rebranding is seen as a “leap forward” to a new era in finance and will consolidate the services that the company offers to Filipinos everywhere.

"Over the past years, PayMaya has evolved to adapt to the ever-changing market needs of consumers and enterprises,” says PayMaya president and Maya Bank co-founder Shailesh Baidwan. “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.”

Starting out as an e-wallet, the Maya app now houses facilities for crypto trading as well as digital banking. All businesses under PayMaya will now be called Maya, including its enterprise payments solutions vertical Maya Business (formerly PayMaya Business) as well as on-ground agents Maya Center (formerly Smart Padala). 

The Maya app also houses the banking services of PayMaya, which received its digital bank license just a few months ago. Maya Bank offers financial tools such as savings, credit, as well as micro-investments. 

Executives now tout the app as “everything and a bank,” and promises that it will revolutionize the way Filipinos manage their finances. Orlando B. Vea, PayMaya founder and CEO and Maya Bank co-founder and board director, adds that the app, touted as “everything and a bank” will “revolutionize” the way Pinoys manage their finances. 

“We are unleashing the power of financial technology to benefit all Filipinos,” Vea said. “We are here to democratize digital financial services as you have never seen before.”

“The Maya brand represents the next stage of financial services in the Philippines,” said Angelo Madrid, Maya Bank President. “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 experience of our customers is at the center of what we do, and we want them to have a personalized, secure, and convenient experience in managing their money. From now on, the Maya app is the only app anyone would need to save, spend, grow, and master their money,” Baidwan said. 

Voyager Innovations Inc., the parent company of PayMaya and Maya Bank, recently closed its latest funding series to raise $210 million, bringing its valuation to nearly $1.4 billion, bringing it up to unicorn status.