Maya Black Credit Card Officially Launches in the Philippines

Maya, one of the Philippines’ leading digital bank, has unveiled the Maya Black Credit Card—a premium, black-tier offering designed to democratize access to credit. Leveraging proprietary data and AI-driven credit models, Maya Black aims to broaden credit accessibility, especially for those lacking traditional credit histories.

Accessible directly through the Maya app, the card promises a swift approval process and instant virtual card issuance, followed by the delivery of a sleek, numberless physical card within 3-5 days. Users can manage their entire credit card lifecycle—from application to customer support—entirely within the app.

Maya Black introduces a fundamentally different approach to credit assessment. By utilizing Maya’s extensive transactional data and various alternative data sources, the platform’s AI-powered credit scoring model can evaluate and approve applicants who might be overlooked by traditional banking institutions. Individuals without prior credit history can opt for a secured card pathway, seamlessly integrated within the app, eliminating the need for cumbersome paperwork or reapplications.

Upon approval, users receive an instant virtual card, followed by the delivery of the Philippines’ first numberless physical card. All sensitive card details are securely stored within the app, empowering users with the ability to freeze or replace their card in real-time for enhanced security.

“We engineered Maya Black specifically for a generation that demands instant, mobile-first banking solutions. This is not your typical credit card; it’s a completely re-engineered experience,” said Angelo Madrid, President of Maya Bank.

Premium Benefits from the Outset:

• Maya Miles: Earn miles on every transaction, with real-time tracking within the app. These miles can be utilized as currency across Maya’s extensive merchant network, converted into airline miles such as Philippine Airlines’ Mabuhay Miles, and redeemed for other travel rewards—all within the app.
• Welcome Bonus: Receive 3,000 bonus miles upon physical card activation and spending ₱5,000 within the first 60 days.
• Airport Lounge Access: Enjoy access to airport lounges via DragonPass, including PAGSS and Marhaba lounges at Ninoy Aquino International Airport (NAIA).
• Global Acceptance: The card is accepted at over 130 million merchants worldwide through the Visa network.
• Enhanced Security: Benefit from advanced security features, with card numbers exclusively accessible via the app and real-time freeze/replace functionalities.

Addressing Rising Demand and Limited Access:

Interest in credit cards is experiencing a significant surge in the Philippines. According to Google Philippines data, credit cards now account for 38% of financial product search interest. However, access to credit cards remains limited. The Bangko Sentral ng Pilipinas (BSP) 2021 Financial Inclusion Survey indicated that 56% of Filipino adults find it challenging to qualify for a credit card.

As of Q4 2023, TransUnion data revealed that only 15% of Filipino adults hold a credit card. While the outstanding credit card base saw a substantial year-over-year growth of 20%, from 9.3 million to 11.2 million cards, penetration remains low in a country with over 70 million adults.

Maya Black directly tackles this accessibility gap by eliminating traditional barriers and scaling AI-powered credit across Maya’s rapidly expanding Millennial and Gen Z user base. This launch builds upon the success of the Landers Cashback Everywhere Credit Card, which has seen the issuance of nearly 200,000 cards to date.