Maya, the country’s top digital bank and all-in-one finance platform, is reshaping access to credit with the Maya Black Express, a deposit-backed credit card meant to help users build or rebuild credit history.
According to Maya, 37 percent of its Maya Black credit cardholders now come from this product, signaling a structural shift in how Filipinos enter the credit market.
With traditional credit card penetration in the Philippines lingering at just 15 percent of the adult population, Maya’s card service provides a critical alternative for financially underserved groups, eliminating the need for prior credit history—a long-standing barrier in the formal lending system.
“When given the right entry point, Filipinos are ready to engage with credit on their own terms,” said Shailesh Baidwan, president of Maya Group and co-founder of Maya Bank. He emphasized that Maya Black Express combines dignity, discipline, and access, delivering a full-featured credit experience from the outset.
Unlike conventional entry-level cards, Maya Black Express requires a minimum deposit of ₱12,500, 80 percent of which becomes the credit limit. The deposit acts as both collateral and an interest-earning account at 3.5 percent per annum, making the card a low-risk gateway to the credit ecosystem. It includes premium benefits such as no annual fees for life, global lounge access, and Maya Miles rewards, typically reserved for more established borrowers.
Policy experts may view this development as a blueprint for inclusive finance, offering a replicable model for democratizing credit access while encouraging responsible financial behavior.
