Maya and Grab Join Forces to Provide Instant Credit to Filipinos
Maya, the biggest digital bank in the Philippines, and Grab, the biggest app in Southeast Asia, have joined forces to make it easier and faster for Filipinos to get credit.
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| Joining forces for accessible credit lines, Maya Bank and Grab launch a seamless application process for Maya Credit on the leading superapp. [L-R] Maya Bank President Angelo Madrid; Maya Group President and Maya Bank Co-Founder Shailesh Baidwan; Grab Financial Group Regional Head of Payments Martha Borja; and Grab Philippines Director for Deliveries and Strategy Greg Camacho |
Grab users who are eligible can now get up to ₱30,000 right away through Maya Easy Credit. This gets rid of the usual waiting times, collateral requirements, and paperwork. To get this credit line, the steps are easy to follow:
Use the Grab app to fill out a form. Give Maya your phone number and give your permission.
Get the Maya app, make an account, and then improve it.
Use the Maya app to apply for Maya Easy Credit. The money will be sent right away if you are approved, but only after a credit check.
The goal of this relationship is to give more Filipinos access to credit, stressing how important it is to borrow money wisely and encouraging financial independence.
Regional Head of Payments at Grab Financial Group, Martha Borja, said, "At Grab, our mission goes beyond changing the way people get around and how on-demand deliveries work." We also work to help millions of Filipinos get access to banking services. That commitment is shown by this important relationship with Maya Bank, which makes Maya Credit easier for the millions of Grab users we serve every day to get. This partnership is a big step toward making it easy for our users to get non-traditional financial solutions through the Grab app. This will improve their lives and give them more financial options.
Angelo Madrid, President of Maya Bank, said, "One of the biggest problems many Filipinos have with their money is that they can't get loans from trustworthy sources." Grab and Maya Easy Credit are working together to make it easier than ever to get a credit line of up to ₱30,000.
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Grab users who are eligible can now use Maya Easy Credit to add money to their Maya Wallet and easily pay for rides or food orders. This gives Grab users more budget options within the app.
The way you pay in the Grab super app has also been made easier by Maya. People can use their phone numbers to link their Maya accounts and their Maya Cards to the Grab app so that they can pay for things easily across multiple services.
Grab users can also use the extra money to save more or trade in stocks and mutual funds through Maya's partner marketplace, which is all done within the Maya app. In addition, each transaction raises the user's Maya Savings interest rate, which could reach 14% per year, and helps them get more credit in the future.
With this relationship, Maya is one step closer to getting the money she needs to fix the problem in the Philippines. Maya started giving money in 2022 and had given ₱47 billion in loans to about 1.2 million people by the end of June 2024. Of these 1.2 million people, 59% chose Maya as their first choice for loans.
