Insider spotlight:
The Maya Black Credit Card, unveiled this week, is a product designed for mobile-first users and powered by the firm’s proprietary data and AI-driven credit scoring system.
In a statement, the firm said the launch signals a shift in the local credit card landscape, traditionally dominated by banks with stricter credit approval models.
“Credit cards have long symbolized financial freedom and status—but for most Filipinos, they’ve remained out of reach,” said Shailesh Baidwan, Maya Group president and Maya Bank co-founder. “With Maya Black, we’re making the most desirable card in the market—and democratizing access to it.”
Maya Black is fully integrated into the Maya app, with a completely digital application process. Successful applicants receive instant access to a virtual card, followed by the physical version—featuring a numberless design for enhanced security. Card details are stored securely in-app, and users can freeze or replace their cards in real time.
The offering includes a secured card option for users without a formal credit history, further widening potential access.
“This is a bold step in reshaping credit access—and a major leap in Maya’s journey as the leading provider of full suite of financial products,” Baidwan added.
According to Maya Bank president Angelo Madrid, the product caters specifically to a new generation of users.
“We designed Maya Black for a generation that expects instant, mobile-first banking. This isn’t the usual credit card—it’s a re-engineered experience,” he said.
Beyond the streamlined onboarding, Maya Black comes with benefits commonly associated with premium credit cards. Users earn Maya Miles on every transaction, which can be spent within Maya’s merchant network, converted into airline miles such as PAL Mabuhay Miles, or redeemed for other travel rewards.
Additional perks include:
The launch comes amid rising interest in credit cards among Filipino consumers. Google Philippines reports that credit cards account for 38 percent of financial product searches. However, as of the fourth quarter of 2023, only 15 percent of Filipino adults had a credit card, according to TransUnion, despite a 20-percent increase in outstanding cards year-on-year.
Maya said its new card is positioned to fill that gap. The company’s AI-based credit evaluation, paired with growing app engagement among millennials and Gen Z, makes the card a potentially significant player in the expanding digital credit space.
The rollout follows Maya’s earlier success with the Landers Cashback Everywhere Credit Card, which has issued nearly 200,000 cards to date.
— Edited by Daxim L. Lucas
