Months after rebranding the PayMaya app to Maya Bank, the digital bank is also introducing and rebranding features and services. PayMaya Enterprise is now known as Maya Business, which will provide business-to-business (B2B) and business-to-government (B2G) services.
“The BSP welcomes the rollout of new digital financial services that bring the benefits of digitalization to Filipino businesses and end-users. We are creating the right environment, but without enterprises like Maya, it means nothing if the private sector does not find a way of utilizing the opportunities,” said Bangko Sentral ng Pilipinas Governor Felipe Medalla. “These efforts contribute to our push to expand financing options for our MSMEs and bring them into the mantle of the formal financial system.”
Maya Business offers merchants the broadest range of payment acceptance solutions, allowing businesses to accept any credit, debit, and prepaid card, scan-to-pay via QR, or via Maya wallet, whether online or on-ground. Solutions include Maya Checkout for online payments, Maya Payment Links for digital invoicing, Maya QR enabled by QR Ph Person-to-Merchant (P2M) payments – the national standard promoted by the BSP, and Maya Terminal, the country’s first android point-of-sale device.
“As a growth and transformation enabler, we are embedding our digital Maya solutions into the operating systems of our merchants, big or small, online or physical,” Orlando B. Vea, founder-CEO, PayMaya and co-founder, Maya Bank.
Business owners and corporations can fast-track their business growth with a fully digital bank account that offers free PesoNet transfers and a 1.5% interest rate, four times higher than traditional banks. This feature is currently available for existing Maya Business clients.
On top of payment acceptance, Maya Business also offers a disbursement platform that enables organizations to efficiently distribute funds to their employees, suppliers, or citizen beneficiaries.