PayMaya

PayMaya Philippines, Inc. (formerly Smart e-Money, Inc.),[1] commonly referred to as Maya, is a Philippine financial services and digital payments company based in Metro Manila, Philippines.[2] It was founded in 2007.[3]

Maya
Headquarters
Metro Manila, Philippines
Area servedPhilippines
Key people
Industry
ParentVoyager Innovations, Inc.

In 2016, PayMaya processed $1 billion in transactions.[4]

As of September 2021, it has 38 million registered users.[5]

On April 2022, PLDT and Smart Communications, the two companies controlling Voyager Innovations, PayMaya's parent company, announced that the app will be overhauled and renamed Maya to coincide with the launch of Maya Bank.

Products
PayMaya logo from 2015 until 2021. The logo is still used in some Smart Padala outlets, and their store and bank partners, notably in their QR Code payment counters.

Mobile e-wallet

Maya's new e-wallet allows person-to-person money transfer via an app. Services within the app also includes bills payment, prepaid load purchase, Savings feature, Crypto currency, and local bank transfer.[6]

Maya Center

First introduced in 2004 and formerly a separate remittance service of Smart Communications,[7] Smart Padala is a network of 55,000 partner agent touchpoints across the Philippines and serves as last-mile financial hubs in communities, providing the unbanked and underserved access to digital services.[8]

Smart Padala rebrands to Maya Center on April 29, 2022.[9]

Maya Business, formerly PayMaya Enterprise

PayMaya Enterprise enables businesses to accept digital payments, whether online or in-store.[10]

PayMaya Enterprise rebrands to Maya Business on April 29, 2022.[11]

Maya Bank

PayMaya is planning to launch a fully digital bank after it was given a license to operate a digital-only bank in September 2021 by the BSP's Monetary Board.[12]

The bank will have a 6 percent per annum interest rate, according to the app. Users will be able to access new features such as crypto under its "Money Makers" tab where they can buy and sell cryptocurrencies such as Bitcoin, Ethereum, Cardano and Uniswap, among others.[13]

References
  1. "Smart e-Money has a new home". smart.com.ph. April 14, 2014. Retrieved April 14, 2014.
  2. "Pay fees via any prepaid, debit, credit card, or through PayMaya e-wallet". BusinessMirror. Retrieved September 22, 2021.
  3. "PayMaya". Owler. Retrieved September 22, 2021.
  4. Crisanto, Janine. "PayMaya serves the unbanked in the Philippines through the mobile app". The Asian Banker. The Asian Banker. Retrieved September 22, 2021.
  5. "PayMaya hits 38 million registered subscribers". Philstar. Retrieved September 22, 2021.
  6. "E-wallet app waives cash in fees for users". ABS-CBN News. Retrieved September 22, 2021.
  7. "Smart Padala". Smart Communications. Archived from the original on August 26, 2017. Retrieved January 11, 2022.
  8. "Western Union money transfers now available at a Smart Padala agent near you". Manila Bulletin. Retrieved September 22, 2021.
  9. "Ang dating Smart Padala, Maya Center na!". Maya Center. Retrieved April 29, 2022.
  10. "PayMaya says it now has over 200k touchpoints nationwide". Business World. Retrieved September 22, 2021.
  11. "Maya Business, formerly PayMaya Enterprise. Your all-in-one business growth partner". Maya Business. Retrieved April 29, 2022.
  12. "PLDT unit secures digital bank license". Philstar. Retrieved September 22, 2021.
  13. "PayMaya becomes 'Maya' ahead of launch of digital bank". {{cite web}}: |first= missing |last= (help)CS1 maint: url-status (link)
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