Maya, a leading digital bank and omni-channel payment processor, is revolutionizing how small and medium enterprises can thrive in the new economy with its business bundle.
The Maya Business 1-2-3 Grow Bundle is an all-in-one package that integrates payments, business deposits and credit solutions to help SMEs supercharge their profits and accelerate business growth.
Its three essential components are payments, business deposit and flexi loan. It accepts all QR payments with one QRPh code, providing a 1-percent discount on merchant discount rate for three months. This results in cost-savings of P4,600 for every P1 million worth of sales for your business.
The Maya business deposit account offers 2.5 percent annual interest, which is 20 to 25 times higher than other banks.
Meanwhile, Maya flexi loan offers up to P2 million in just 3 months after using Maya as primary processor for all wallet and card transactions. It does not require collateral.
“Maya is already the payments backbone of the Philippines and trusted to power payments of businesses of all shapes and sizes. We are extending our support even further by bringing all-in-one digital banking to SMEs because they are underserved by traditional banks,” said Shailesh Baidwan, Maya Group president and Maya Bank co-founder.
“Our seamless Maya Flexi Loan experience makes it easy for a small business to secure credit that will help them take advantage of growth opportunities – without ever having to set foot in a bank branch,” Baidwan said.
Maya’s all-in-one financial services under the Maya Business Manager dashboard provide a seamless experience. Entrepreneurs can easily manage online payments, accept card and QR Ph in-store, streamline payouts and more.
“We aim to revolutionize SME banking in the country. With our simplified all-in-one approach, we will empower our SMEs to focus on growing their business instead of managing the hassles of multiple financial partners” said Richard Labitag, head of SME Business at Maya.
Despite the rise of digital payments, cash still reigns supreme for SMEs. According to a 2021 market study commissioned by Maya, 94 percent of SME transactions were conducted in hard cash. This reliance on cash limits their digital and financial footprint, restricting their access to advanced banking services like credit.
To tackle this challenge, Maya takes a groundbreaking step as the first bank in the Philippines to seamlessly utilize alternative payment data for pre-approving SME loans. SMEs can now access credit by merely using Maya for their payments and daily business transactions.
Maya also actively drives the adoption of QR Ph, the country’s QR payment standard, aiding SMEs in expanding their transaction footprint. By linking SMEs to its extensive consumer network, Maya offers access to a growing high-value market that favors digital payments.