# Maya (formerly PayMaya) > Source: https://docs.barcoder.ai/docs/wallets/maya > research date 2026-06-04 · extracted at 2026-10-07 > Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards Specifications: - [Maya — official site](https://www.maya.ph/) - [Maya Bank — digital banking](https://www.mayabank.ph/) - [PayMaya → Maya rebrand page](https://www.maya.ph/maya-updates) ## Supported standards This wallet supports the following visual-code standards: - [`maya`](https://docs.barcoder.ai/docs/standards/maya) ## Overview **Maya** (formerly **PayMaya**) is the Philippines' second-largest e-wallet and the country's only end-to-end digital financial-services platform, combining a feature-rich wallet with a full digital-banking licence operated by **Maya Bank, Inc.** under supervision of the **Bangko Sentral ng Pilipinas (BSP)**. It processed over **₱1 trillion in transaction value during 2024** and serves as the leading merchant acquirer for Visa in the Philippines. Maya operates a wallet, savings accounts, crypto trading, credit cards, and a nationwide agent network of over 63,000 partners under the **Maya Center** brand. ## History **2014** — PayMaya launched as a mobile wallet by **Voyager Innovations**, a Philippine fintech company founded in 2010 by **John Gokongwei Jr.** (JG Summit Holdings) and **Andrew Tan** (LT Group). The launch was funded with approximately ₱1 billion from the two investors. **2015** — PayMaya received an **Electronic Money Issuer (EMI)** license from the BSP, enabling it to issue stored-value cards and accept deposits up to ₱50,000 per customer. **2017** — PayMaya integrated with **InstaPay**, the BSP's real-time fund-transfer network, allowing users to send and receive money between banks and wallets. **2019** — PayMaya launched its **physical debit card** in partnership with Visa, enabling ATM withdrawals and point-of-sale payments at merchants accepting Visa. **2020** — During the pandemic, PayMaya expanded into **bill payments**, **mobile load**, and **crypto trading**, adding Bitcoin and other digital assets to the platform. Transaction volume surged as contactless payments grew. **2021** — Maya Bank, Inc. received a **Digital Bank License** from the BSP. This allowed PayMaya to offer full banking services — savings accounts earning interest, personal loans, and credit lines — within the same app. **2022** — PayMaya rebranded to **Maya** across all products, including the consumer app (**Maya**), the business platform (**Maya Business**), and the agent network (**Maya Center**). The rebrand signalled a shift from "just payments" to an all-in-one financial platform. Maya Black Credit Card launched in partnership with Mastercard. **2024** — Maya processed over **₱1 trillion** in total transaction value. The platform continued expanding its merchant acceptance network and crypto offerings. ## Ownership & operator - **Maya Philippines, Inc.** — the EMI and end-to-end digital payments company. Operates the Maya wallet and Maya Business platform. - **Maya Bank, Inc.** — the digital-banking subsidiary. Offers savings, deposits, and credit products. Deposits insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱500,000 per depositor. - **Parent:** Both entities are controlled by **Voyager Innovations**, which is majority-owned by **JG Summit Holdings** (John Gokongwei Jr.) and **LT Group** (Andrew Tan). - **Regulator:** Bangko Sentral ng Pilipinas (BSP) — supervises both the EMI and digital-bank licenses. PCI DSS Level 1 certified. ## Technical integration **QR Ph** — Maya is a **full participant** in the BSP's QR Ph national interoperability standard. Merchants can accept payments from Maya and any other QR Ph-connected bank or e-wallet (GCash, UnionBank, BPI, etc.) through a single QR code. Maya supports both **static** (fixed-amount) and **dynamic** (variable-amount) QR Ph codes for merchant payments [QR Ph](https://docs.barcoder.ai/docs/standards/qr-ph). **InstaPay** — Maya is a direct participant in InstaPay for real-time P2P and wallet-to-wallet transfers, available 24/7 with transaction limits up to ₱50,000 per transfer [InstaPay](https://docs.barcoder.ai/docs/standards/instapay). **PESONet** — Maya supports PESONet for batch-processed, higher-value transfers (typically ₱250,000+) for payroll, B2B, and government payments PESONet. **Channels:** Mobile app (iOS, Android), web dashboard for business accounts. No USSD or feature-phone support. **Identifiers accepted:** QR code (QR Ph), phone number, email address, Maya @username for P2P transfers. ## Users & growth - **Registered users:** Over 8 million (2024, Maya press materials). Maya describes itself as the "#1 Digital Bank App in monthly active users" in the Philippines. - **Transaction volume:** Over ₱1 trillion processed in 2024. This includes wallet transfers, QR Ph merchant payments, InstaPay/PESONet bank transfers, and bill payments. - **Market position:** Second-largest e-wallet in the Philippines behind GCash (which has ~94 million users). Maya is the **leading merchant acquirer for Visa** in the Philippines. - **Agent network:** Over 63,000 Maya Center partner agents nationwide, providing cash-in/cash-out services for unbanked and underbanked communities. ## Use cases - **P2P transfers:** Send money using phone number, email, or Maya @username. Supports InstaPay for instant bank transfers. - **Merchant payments (QR Ph):** Static and dynamic QR Ph codes for brick-and-mortar and e-commerce payments. Maya Business provides merchant dashboards, sales reporting, and automated reconciliation. - **Bill payments:** Electric, water, telco, government fees, and other billers. Supports cash-in at Maya Center agents. - **Crypto trading:** Buy, sell, and hold Bitcoin and other digital assets within the app. One of the earliest Filipino wallets to integrate crypto. - **Savings & lending:** Maya Savings accounts (up to 10% p.a.), Maya Credit (pre-approved credit lines up to ₱30,000), and Maya Black Credit Card. - **Remittances:** OFW (Overseas Filipino Worker) remittance support through Maya Center agent network and partner integrations. - **Mobile load & gaming pins:** Prepaid load for Smart, TNT, and other telcos; gaming pins for popular titles. ## Implementations & partners - **Bank partners:** UnionBank, BPI, and other BSP-regulated institutions for InstaPay/PESONet integration and bank-transfer funding. - **Merchant partners:** Jollibee, McDonald's Philippines, Mercury Drug, Shell, Watsons, Bench, Agoda, National Bookstore, Landers, and 63,000+ Maya Center agents. - **Card networks:** Visa (physical and virtual debit cards) and Mastercard (Maya Black Credit Card). - **Cross-border:** Maya participates in BSP's regional interoperability initiatives including Project Nexus (ASEAN cross-border real-time payments). InstaPay links with Singapore's PayNow for ASEAN transfers. ## Fun facts - Maya was one of the first Filipino wallets to offer **crypto trading** (Bitcoin) directly within the app, predating many traditional Philippine banks' crypto integration. - The rebrand from **PayMaya to Maya** in 2022 was accompanied by a complete app redesign and the launch of Maya Bank as a separate legal entity with a full digital-banking licence. - Maya Center's 63,000+ agent network reaches communities where traditional bank branches are scarce, functioning as micro-ATMs for cash-in/cash-out. ## Comparison | Feature | Maya | GCash | |---|---|---| | **Users** | >8M registered | ~94M registered | | **QR Ph** | Full participant (static + dynamic) | Full participant | | **Digital bank** | Yes (Maya Bank, BSP-licensed) | Yes (mynt., BSP-licensed) | | **Crypto** | Yes (Bitcoin, altcoins) | Yes (GCash Crypto) | | **Credit cards** | Maya Black (Mastercard) | GCash Credit Line (Visa) | | **Agent network** | 63,000+ Maya Center | 500,000+ GCash Cash-in Points | | **Visa merchant acquirer** | #1 in Philippines | #2 | | **Cross-border** | Project Nexus, PayNow link | UnionPay QR, Western Union, Panda Remit | Maya differentiates through its **integrated banking** approach — combining wallet, digital bank, and business services in one platform under a single BSP license, whereas GCash operates as a super-app with broader but less deep financial services. Maya's **Maya Center** agent network (63,000+) is also more focused on community-level financial inclusion compared to GCash's broader but less structured cash-in points. ## Status **Active.** Maya continues to expand its merchant acceptance, agent network, and financial services in the Philippines. The platform is regulated by the BSP under both EMI and digital-bank licenses. Maya Bank deposits are PDIC-insured up to ₱500,000 per depositor. The 2024 transaction volume of ₱1+ trillion demonstrates continued growth. ## Sources [1] [Maya — official site](https://www.maya.ph/) — Maya Philippines, 2026. [2] [Maya Bank — digital banking](https://www.mayabank.ph/) — Maya Bank, Inc., 2026. [3] [PayMaya → Maya rebrand page](https://www.maya.ph/maya-updates) — Maya, 2022. [4] [Philippines Payment Rails — Transfi](https://www.transfi.com/blog/philippines-payment-rails-how-they-work---from-instapay-pesonet-to-gcash-maya-real-time-transfers) — Transfi, Jul 2025. [5] [QR Ph Activation Guide — HitPay](https://www.hitpayapp.com/blog/activating-qr-ph-for-your-brick-and-mortar-store-in-2025-hitpay-scan-to-pay-vs-maya-qr) — HitPay, May 2026. [in-cro]: [PH-philippines](https://docs.barcoder.ai/docs/payments/PH) ## Source Biography extracted from [maya.md](https://docs.barcoder.ai/source/wallets/maya). See `matrix.md` for standards-support matrix if present.