Digital payments platform PayMaya is dropping the “pay” in its name, as it will now be simply known as Maya.
PayMaya president and Maya Bank co-founder and board director Shailesh Baidwan said the rebranding was seen as a logical step as PayMaya moves beyond payments.
“Over the past years, PayMaya has evolved to adapt to the ever-changing market needs of consumers and enterprises. We are leaping forward with a new experience by building the country’s all-in-one money platform under Maya,” he said.
The new Maya brand will be reflected across its ecosystem, including its enterprise payments solutions with Maya Business (formerly PayMaya Business) and its on-ground network of Maya Center (formerly Smart Padala) agents across the country.
In line with the rebranding, a new Maya app was launched to integrated the digital banking services by Maya Bank with PayMaya’s e-wallet and other features like cryptocurrency, micro-investments, and insurance.
Maya Bank has also been officially launched, just six months after it secured a digital banking license from the Bangko Sentral ng Pilipinas.
It powers all the digital bank services across the Maya app, Maya Business, and Maya Center.
“Today, we are not just launching a brand, app, and digital bank. We are unleashing the power of financial technology to benefit all Filipinos,” said Orlando Vea, PayMaya founder and CEO and Maya Bank co-founder and board director.