PayMaya gets digital bank license from BSP
PayMaya Philippines, the financial technology arm of Voyager Innovations, has secured a digital bank license from the Bangko Sentral ng Pilipinas, allowing it to reach more unbanked Filipinos.
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| PayMaya to operate a digital bank |
Maya Bank, PH's sixth digital lender
In a statement, the group said Filipinos can soon experience the country's sixth digital lender Maya Bank, which will focus on the unbanked and underserved population of consumers and micro, small, and medium-sized enterprises.
It also intends to promote digital financial services among the youth, women, senior citizens, and other underbanked segments.
The group said Maya Bank will provide mobile-first digital banking services using PayMaya's established networks, including Smart Padala which is now present in over 92 percent in all cities and municipalities.
The digital transformation of our country is at the top of the PLDT group’s agenda, and this development is a big step forward for Voyager and PayMaya. Maya Bank will be a key vehicle in hastening digital adoption among Filipinos through inclusive financial services, said Manuel V. Pangilinan, Chairman of PLDT, Voyager and PayMaya.
Shailesh Baidwan, Voyager and PayMaya President, meanwhile, said the group is committed to helping the central bank in boosting financial inclusion.
We are very excited to work with the BSP to leapfrog the Philippine financial ecosystem by speedily developing and launching innovative digital banking services, especially for the underserved segments, Baidwan said.
What do you guys think?
A BSP-issued digital bank license allows platforms like PayMaya to operate as full-fledged digital banks, meaning they can provide services such as savings accounts, loans, deposits, and other financial products entirely online. This removes the need for physical branches and makes banking more accessible to users across the country, especially in underserved or remote areas.
ReplyDeleteThis development is closely aligned with the growing demand for secure, mobile-first financial ecosystems. Just as understanding structured systems like coding window hours Makati 2026 helps drivers navigate strict traffic rules efficiently, awareness of digital banking changes helps users better navigate modern financial services and regulations in a rapidly evolving economy.