PayMaya e-wallet evolves into Maya all-in-one money app with crypto feature

Published May 2, 2022, 6:28 PM

by Lionell Macahilig

Finance application PayMaya has officially evolved from an e-wallet to an all-in-one money app called Maya, which is now available for early access to users.

Maya combines the PayMaya e-wallet with new features like crypto and a digital banking experience powered by Maya Bank, hence it’s everything and a bank.

With the new features, Maya allows users to spend, save, grow, invest, and master their money by using their smartphones. The app is free to download from Google Play for Android and Apple’s App Store for iOS.

Shailesh Baidwan, President of PayMaya, and Co-Founder and Board Member of Maya Bank, during the launch of Maya in the Philippines.

All in One App

Maya comes with an array of features that makes the handling of money more convenient and seamless.

Powered by BSP-licensed Maya Bank, Maya Savings is a high-yield saving account with a 6% introductory interest rate, the highest offered by a local bank today. The initial offer is available until August 31, 2022.

Eligible PayMaya customers will be able to move their money from their e-wallet to Maya Savings with just a few clicks and earn interest on their balance. Simply upgrade a Maya account to access the feature, which also requires no maintaining balance.

Maya users can also borrow money using Maya Credit. The virtual credit line enables users to borrow up to P15,000, which can be used to pay bills, buy groceries, purchase load, or upgrade a smartphone. Eligible users can access Maya Credit in as fast as 60 seconds.

Through Maya, users can also buy, hold, and sell popular cryptocurrencies.

Through Maya, users can also buy, hold, and sell popular cryptocurrencies by using Maya Crypto. Digital coins like Bitcoin, Ethereum, Solana, Tether, and more, can be purchased for as low as P1 within the Maya app.

Maya continues to carry PayMaya’s e-wallet features. Enhanced for better customer experience, app users can still enjoy free cash-in through over 90,000 touchpoints in the Philippines.

Other features of Maya include a dark mode, as well as username creation for a more personalized and secure experience.

“Maya is all about challenging conventions — and this translates into the experience we’re giving our users with this new all-in-one money app. With this transformation, we want to enable Filipinos to make bolder choices with their money and seize opportunities – big and small,” said Shailesh Baidwan, President of PayMaya, and Co-Founder and Board Member of Maya Bank.

“We are combining the power of an innovative wallet and a secure, progressive digital banking experience powered by BSP-licensed Maya Bank to transform how Filipinos experience money. This unparalleled digital app experience is supported by Maya Business, the country’s leading payment processor for enterprises, and the widest on-ground network of Maya Center agents,” he added.

Maya Early Access Challenge

Adding excitement to the introduction of Maya, officials behind the app have launched the Maya Early Access Challenge, which gives participants a chance to become Maya’s first-ever bitcoin millionaire.

Simply download Maya and register. On the app’s home page, tap the “More” button and choose Missions, through which users can join the Maya Early Access Challenge. Cash in at least P100 and do an account upgrade to unlock Maya Savings with its 6% interest rate.

Apart from opening a savings account, other missions include sharing feedback, referrals, and utilization of Maya features, all of which will equate to some points.

The top 5% of users with the highest score will be categorized as Maya Master. Ten percent of the highest scorers will be classified as Maya Enthusiasts, while the next 15% highest scorers will be assigned as Maya Explorers.

Maya Explorer-level users will get a chance to win P300,000 worth of Bitcoin. Maya Enthusiasts can win P600,000 worth of Bitcoin, while Maya Masters can take home P1 million worth of Bitcoin. Participants with a Maya Savings account will also have the opportunity to win P1 million worth of Bitcoin.

For more information about Maya and the Maya Early Access Challenge, visit maya.ph.

 
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