First Look: PayMaya Is Now “Maya” And Here Are Its New Features

First Look: PayMaya Is Now “Maya” And Here Are Its New Features

Some of you may have already noticed that your PayMaya app has undergone a transformation. For these users, the app is now Maya and it packs a sleek, new design and additional features to boot.

Our PayMaya contacts confirmed that they have started rolling out the new Maya app since this Monday. Most likely, more and more users will get to experience this newly transformed app in the coming days. Luckily, we had a few team members who were included in the first batch. Here’s the scoop on the application’s new look and features.

First off, Maya’s new design looks nothing like the PayMaya app – or even any of the fintech apps we’ve seen locally. It looks clean, sleek, and modern.

It packs new features – including Savings, Credit, Crypto, and Wallet in one app and you can clearly see that in the design. We’ve seen these features in other local finance apps before – but never all in one platform. This is achieved by Maya, which claims to be an all-in-one money app. Having all these features in one financial application expedites all the money transactions that used to be a hassle in the past. It also doesn’t hurt that this comes in a sleek new app design.

The first thing that caught are attention is the Savings function. Maya Savings is powered by Maya’s very own affiliate BSP-licensed digital bank, called Maya Bank. Other competitor e-wallets have a similar feature but are powered by a third-party bank, using a different platform with its own set of rules and processes. Because Maya Savings is powered by Maya Bank, we’re expecting the customer experience to be more seamless, as the digital banking feature is completely integrated in the app.

It also says that Maya’s introductory interest rates set at 6%, which looks like the highest offered by any bank. This is pretty exciting for those who want to grow their money faster via savings.

According to the Maya team, signing up to have a savings account is easy. Do note though that this feature is still on Early Access, so it’s like beta, and only limited users will be able to open an account in the coming days.

We will review this later but we were told that you just need to have an upgraded PayMaya account and then cash in at least P100 to unlock this feature. For those who haven’t upgraded your account yet, just tap the Upgrade button on your app’s homepage, fill in the details, take a video selfie, and submit 1 valid ID.


Next, let’s take a look at Maya credit. This is also being rolled out so it’s not yet available for all upgraded customers. But for those eligible already, you can borrow as much as PHP 15,000 without any hassle whatsoever. Maya says you can access this credit line in as fast as 60 seconds – or less.

Service fees are only around the 5% mark which is acceptable given the speed at which the entire transaction is completed. The convenience definitely outweighs costs here.

Another feature we liked about Maya is Crypto. This feature was launched by PayMaya earlier this month and will expectedly transition over to Maya. It is supposed to bring users an all-in-one crypto experience that allows you to buy, sell, hold, or even spend your crypto earnings in just one app.

This move should have a lot of you jumping for joy as we push for wider acceptance of crypto in the country. Check here for a more detailed guide.

Maya’s simple and easy-to-use interface makes it extremely doable for people who want to dabble in the crypto market for the first time. Maya also offers a beginner’s guide for those who want to learn the basics of crypto.

Of course, PayMaya’s wallet feature that we’re all accustomed to is still present in the new Maya app. You can still use this feature to shop online, pay bills, or send money.

What we find really convenient here is the lack of cash-in fees for as many as 40 big-name financial partners. The company says it offers free cash in at over 90,000 touchpoints nationwide. That automatically saves us some money to use towards other more important purchases (or a morning Starbucks coffee.)

Our experience with Maya has been pretty smooth, so far. We like that it is more streamlined with new features that would make it possible to just use one app for anything money-related – whether it is paying for goods, saving money or buying crypto.

According to the Maya team, some bugs are to be expected since it’s still in the early stages of the rollout. Still, we’re excited to see more users experience this new money app for themselves in the coming days.

Overall, this app looks very promising. We’ll be sharing a more detailed review on the new PayMaya, “Maya” app very soon!

Have you experienced PayMaya or the new Maya yet? Let us know in the comments section!




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