At the recently concluded Cashless Expo 2023, fintech company Maya trained the spotlight on the pressing need of small businesses for advanced digital banking services.
“Our SMEs aren’t merely poised for digital payments; they’re actively seeking comprehensive digital banking solutions,” said Richard Labitag, head of Acceptance and SME at Maya.
To ensure that it was able to address this need for digital banking, Maya forged collaborations with the Bangko Sentral ng Pilipinas (BSP), the Department of Trade and Industry (DTI), and the Department of Agriculture (DA).
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Labitag underscored the urgency for small and medium enterprises (SMEs) to transition to digital banking, simplifying their journey into the digital economy. Maya’s focus on facilitating digital payment transactions and providing business deposit tools aims to unlock crucial financial services like credit for SMEs.
Maya Business
With 42% of transactions shifting to digital payments by the end of 2022, as per BSP’s report, Maya has been boosting its efforts in empowering consumers and businesses with tailored financial solutions.
“Maya Business stands as a cornerstone for numerous enterprises, especially SMEs,” Labitag said. “Expanding out support, Maya now offers integrated digital banking solutions encompassing payment acceptance, disbursement, business deposits, credit facilities, and money management tools.”
As an enterprise digital payment processor in the Philippines, Maya’s all-in-one growth platform, Maya Business, consolidates a range of digital financial services into a user-friendly platform. Its Maya Business 1-2-3 Grow Bundle streamlines onboarding, provides discounted payment options, offers a 2.5% p.a. business deposit interest rate, and extends accessible credit up to P2 million.
In photo:
Assistant Secretary Mary Jean T. Pacheco, Digital Philippines, DTI (right) shows the new QR PH standard standee which promotes interoperable person-to-merchant payments. With her are Deputy Governor Mamerto E. Tangonan, Payments and Currency Management Sector, Bangko Sentral ng Pilipinas (BSP) (left) and Richard Labitag, Head of Acceptance and SME, Maya (center).