Maya, a leading digital bank in the Philippines and Grab, Southeast Asia’s leading superapp, are teaming up to make borrowing money faster and easier for Filipinos.
The collaboration offers credit access to eligible Filipinos, highlighting the significance of responsible borrowing and promoting financial empowerment.
Eligible Grab users can now access up to P30,000 instantly through Maya Easy Credit— without any wait, collateral or paperwork.
“At Grab, our mission extends beyond innovating in transportation and on-demand deliveries; it encompasses driving progress in financial inclusivity for millions of Filipinos. An expression of this is this landmark partnership with Maya Bank, effectively making Maya Credit more accessible to the millions of Grab users we serve daily. This collaboration represents a significant step in providing convenient access to non-traditional financial solutions directly through the Grab app, enriching lives, and expanding financial horizons for our users,” said Martha Borja, regional head of payments of the Grab Financial Group, said,
Angelo Madrid, president of Maya Bank, said one of the biggest financial challenges that Filipinos face is the lack of access to reliable and trustworthy lending services.
“So, we’re very excited to partner with Grab to make it easier than ever to open a credit line of up to P30,000 with Maya Easy Credit,” he said.
Eligible Grab customers can use Maya Easy Credit to top up their Maya Wallet and effortlessly pay for Grab rides or food deliveries, giving them more budget flexibility within the Grab app.
Maya also made it much easier for Grab users to pay within their super app. They can link their Maya accounts using their mobile number and connect their Maya Cards to the Grab app for effortless payments across services.
With these extra funds, Grab users can also increase their savings, or invest in stocks and mutual funds through Maya’s partner marketplace, all from within the Maya app.
Every transaction enhances the user’s Maya Savings interest rate, potentially up to 14 percent per annum, and helps raise their future credit limits.
The new partnership propels Maya closer to bridging the financing gap in the Philippines. Since beginning its lending operations in 2022, Maya disbursed P47 billion in loans to about 1.2 million borrowers as of end-June 2024.
