Maya is rolling out a new Black Credit Card tier for their customers. Designed for mobile-first consumers and powered by their data and AI-driven credit models, Maya Black enables credit access to more Filipinos especially those without traditional credit histories.
The Maya Black Credit Card is available through the Maya app, and promises fast and instant virtual card issuance with its physical card being delivered soon after. Its access to the app will also lets you complete control over your finances.
Using Maya’s transactional data and other alternative data sources as well as their own AI-driven credit scoring model can access and approve users whom traditional banks often overlook. Applicants without credit history can also opt into a secured pathway – fully integrated into the app – with no paper work or reapplication.
The entire process is digital from application to approval. Expenditure tracking, billing, and support are managed entirely in-app. All card details are store within the app where you can also freeze or replace your card in real time.
Maya Black delivers a full suite of premium-grade benefits from day one:
Credit cards now represent 38% of financial product search interest according to Google Philippines. Yet, access remains limited. Bangko Sentral ng Pilipinas (BSP) 2021 Financial Inclusion Survey reported that 56% of Filipino adults find it difficult to quality, and as of Q4 2023, only 15% hold a credit card based on TransUnion data.
Outstanding credit card base grew from 9.3 million to 11.2 million cards – a 20% increase year-over-year. Penetration remains low in a country of more than 70 million adults.
Maya Black aims to address this gap by removing legacy barriers while scaling AI-powered credit across Maya’s rapidly growing Millenial and Gen Z base. This rollout follows the success of the Landers Cashback Everywhere Credit Card with close to 200,000 cards issued to date.
