Maya, the Philippines’ leading fintech ecosystem, has marked a strong year in digital banking and payments, issuing over 125,000 credit cards in six months and achieving group-wide profitability by December 2024.
These milestones highlight Maya’s ability to scale rapidly across banking, payments, and lending, reinforcing its position as a dominant force in the country’s financial sector.
“Achieving profitability at the group level while scaling rapidly underscores our ability to drive sustainable growth,” said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder.
“We are building a digital-first financial ecosystem that is accessible, innovative, and designed to empower millions of Filipinos consumers and MSME to save, borrow, invest and make and receive payments.”
Maya is one of the few digital banks in the country to achieve profitability, attesting to its strong ecosystem of payments and digital banking.
Maya’s first credit card, the Landers Cashback Everywhere Credit Card, has seen strong consumer demand since its launch in August 2024.The product’s fully digital application and instant activation via the Maya app have been key drivers of adoption, particularly among first-time credit users, who account for almost 40 percent of cardholders, and customers outside Metro Manila, who make up around 60 percent of the total base. By streamlining the credit approval process and eliminating traditional banking barriers, Maya has expanded access to financial services across a broader market.
Maya’s expansion into consumer credit is part of its broader strategy to scale digital banking, payments, and lending, culminating in group-wide profitability by December 2024. This marks a significant milestone for Maya, which includes both Maya Philippines for payments and Maya Bank for digital banking, underscoring its strong financial performance across multiple business segments.
