PayMaya rebrands to Maya, aims to be your all-in-one money app

Financial services and digital payments company PayMaya has rebranded to "Maya".

We downloaded the updated Maya app

PayMaya is now Maya

We spotted the new look of the app earlier while downloading PayMaya on a new Android smartphone we are setting up.

Spotted at the Google Play Store

According to its promotion materials, PayMaya was rebranded into Maya as it aims to be your "all-in-one" money app. We also suspect that by rebranding to Maya, the company wants an easier name recall. And obviously, this is likely an effort to get a chunk of the market that is currently being led by rival GCash.

It said that "Maya is a wallet. And a bank" and this is true as its parent company Voyager Innovations last year secured a digital bank license from the Bangko Sentral ng Pilipinas.

The new app also has a renewed focus on crypto with "everything you need" to master your money. Maya said that this service is beginner-friendly and has ways for its users to learn the tricks and trade of the game in the app. To recap, PayMaya recently added a new option on its app to buy or sell cryptocurrencies. 

The major change in the app is its new dark and bright green-colored logo and the more modern user interface.

Side by side with the old interface

Versus the old PayMaya app, the new Maya app appears to be easier to use with an easier-to-reach button where you can see all of its services arranged in different categories such as Essentials, Money Makers, Lifestyle, Payments, Rewards, and more.

At the moment, the early access to the Maya app major update is only available at the Google Play Store for Android users.

Those who will create a new account will get a PHP 20 voucher and an extra PHP 80 after completing their accounting and sending money for the first time. Complete account users can also buy load up to PHP 200 and get 100 percent cashback.

Since Maya's savings and credit features are powered by BSP-licensed Maya Bank, Inc., deposits are insured by the PDIC up to P500,000 per depositor.

The company will hold an online event on April 29 and we can expect them to reveal the rest of the missing details. Likely, the updated app will be available for iOS users very soon.

What do you guys think?

Source: Google Play Store