Maya has experienced a milestone year in digital banking and payment solutions, issuing over 125,000 credit cards in just six months and attaining group-wide profitability by December 2024. This rapid expansion highlights Maya’s ability to scale across banking, payments, and lending, reinforcing its position as a major player in the Philippine financial sector.
"Achieving profitability at the group level while rapidly scaling 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 innovative, accessible, and designed to empower millions of Filipinos—from consumers to MSMEs—to save, borrow, invest, and make seamless transactions."
Maya’s Growing Digital Banking Footprint
Maya is among the few digital banks in the Philippines to achieve profitability, demonstrating its strong ecosystem of payments and banking. The launch of its Landers Cashback Everywhere Credit Card in August 2024 has been well received, with strong consumer demand attributed to its fully digital application process and instant activation via the Maya app.
Notably, nearly 40% of cardholders are first-time credit users, while around 60% are based outside Metro Manila. This reflects Maya’s commitment to breaking traditional banking barriers and expanding financial access to a broader market.
Sustained Growth and Group Profitability in 2024
Maya’s expansion into consumer credit solutions is part of its broader strategy to scale digital banking, lending, and payments, which ultimately led to group-wide profitability by December 2024. This milestone solidifies Maya’s financial strength, encompassing Maya Bank for digital banking and Maya Philippines for payments.
By the end of 2024, Maya reported impressive growth across its financial ecosystem:
- Banking customer base surged to 5.4 million (a 71% year-over-year increase)
- Borrower base nearly doubled, reaching 1.6 million users
- Total deposits soared to ₱39 billion (up 59% from 2023)
- Loan disbursements hit a total of ₱92 billion
- Maya maintained its leadership in digital payments, securing the largest market share in card acquiring and QRPH transactions
These numbers reinforce Maya’s dominance as the #1 omni-channel payments processor in the Philippines.
Expanding Digital Banking and Business Solutions
Beyond consumer credit, Maya has expanded its business banking services, catering to MSMEs and enterprise clients. It has introduced bill payment solutions under Maya Business Deposit and customized loan options to provide small businesses with greater financial flexibility.
These initiatives align with Maya’s vision to empower Filipino entrepreneurs with seamless digital banking and financing solutions.
With strong momentum in banking, lending, and digital payments, Maya is set to further expand its credit and lending portfolio, enhance enterprise solutions, and deepen financial inclusion across the Philippines.
For more insights into the latest fintech trends, visit Maya’s official website or check out how Maya continues to transform digital banking.