Maya, the Philippines’ number 1 digital bank and digital payments processor and Grab Philippines collaborate to provide users the ease of paying for rides and food orders.
“Grab is fully committed to championing the widespread adoption of cashless transactions in the Philippines. As we stride forward towards a cash-light society, we’re not just transforming the financial landscape, but also making it more accessible, scalable, and secured. It brings us immense joy to collaborate with Maya in driving the cashless revolution in the Philippines,” said Grab financial group Philippines country head Martha Borja.
Users can now seamlessly link their Maya accounts to Grab using their mobile number. Grab stressed that the direct linking is not only convenient but also eliminates the burden of interbank transfer fees, providing more savings for users.
The partnership is first-of-its-kind initiative with a digital bank. Maya goes beyond simplified payment processing. By leveraging all-in-one digital banking, each Grab transaction can boost the user’s Maya Savings interest rate to as much as 14 percent per annum, credited daily.
Sweetening the pot, users can get up to P5,000 cashback until end-December 2023 for payments made via Maya on Grab.
“Our alliance with Grab allows us to extend our comprehensive financial services to more Filipinos. We are committed to providing exceptional value through our offerings, and this collaboration is a testament to our vision for a progressive financial ecosystem through all-in-one digital banking,” said Maya Bank group president and co-founder Shailesh Baidwan.
Maya and Grab share the vision to empower Filipinos by fostering a digital-first economy. The latest collaboration represents a significant leap in the digital banking space, setting a benchmark for innovation and customer-centric financial solutions in the Philippines.