Fintech company Maya Philippines Inc. said on Thursday that it has issued more than 125,000 credit cards in just six months that further solidifies its position as a key player in the digital banking space. The company also revealed that it is on track to achieve group-wide profitability by December 2024.
Maya’s first credit card, the Landers, has generated strong demand since its August 2024 launch. The card’s fully digital application process and instant activation via the Maya app have proven a key draw, particularly among first-time credit users who make up nearly 40 percent of cardholders.
Significantly, Maya has seen strong adoption in regions outside of Metro Manila, with customers from these areas representing approximately 60 percent of total customer base. This highlights the company’s success in breaking down traditional banking barriers and expanding financial access to the so-called underserved markets.
“We are building a digital-first financial ecosystem that is accessible, innovative, and designed to empower millions of Filipinos to save, borrow, invest, and make and receive payments,” said Shailesh Baidwan, Maya group president and co-founder of Maya Bank.
The fintech firm’s rapid scaling into consumer credit forms part of a broader strategy to expand its digital banking, payments, and lending services. As of the end-2024, Maya’s customer base surged 71 percent to 5.4 million even as its borrower base nearly doubled to 1.6 million.
Additionally, Maya saw a substantial increase in deposits, which grew by 59 percent to P39 billion, and its cumulative loan disbursements totaled P92 billion. Maya also maintained its leadership position in digital payments, with the largest market share in card acquiring and QRPH transactions.
Looking ahead, Maya intends to expand its credit and lending offerings, enhance its enterprise solutions, and continue its mission to foster financial inclusion. The company’s sustained growth trajectory and ongoing innovations in the financial sector underscore its commitment to creating a more accessible and inclusive financial ecosystem in the Philippines.
