Photo source: Pexels

Filipinos have embraced new methods of managing their finances since the widespread shift to digital systems compared to previous years. However, not everyone has yet been able to adjust to this transformation and fully adopt modern financial practices. While some remain unaware of the advantages of digital financial tools such as interest, discounts, and even cashback, others feel overwhelmed by the process or are hesitant to change their traditional approaches.

One significant challenge many Filipinos face is gaining access to these financial products that would help them navigate the digital landscape. For example, getting a credit card remains difficult for many, due to factors like stringent requirements and limited financial literacy. This creates a barrier to fully participating in the digital economy, leaving many hesitant to embrace the convenience and rewards that come with modern financial services.

Moreover, according to a 2021 Bangko Sentral ng Pilipinas survey, 56% of adults found the credit card application process challenging, and by 2023, only 15% of adults had a credit card, according to TransUnion.

Bridging the gap for Filipinos to effective financial practices

Maya, one of the leading digital banks in the Philippines, addresses the gap by offering a fully digital application and approval process that allows users to start spending online instantly —one solution that resonates with those tired of traditional banking hurdles like having to free up your schedule just to visit the bank and even tackling the traffic just to be there.

Photo source: Maya

Now, customers only need a Landers membership and a Maya account. The digital bank has now issued over 80,000 Landers Cashback Everywhere Credit Cards in just four months, making it one of the fastest-growing credit cards in the country today. This rapid uptake of this co-branded offering with Landers Superstore is driven by substantial rewards and high-tech experience.

Currently, millennials account for over half of the cardholders, while Gen Zs, often locked out due to lack of credit history, makes up 15%. The card has also penetrated traditionally underserved areas, with 61% of users residing outside Metro Manila. Notably, 42% of the Cashback Everywhere cardholders do not have another credit card.

"Our entry into credit cards with the Landers Cashback Everywhere is a major milestone for Maya. We continue to launch new products to become a deeper part of our customers' daily lives—from routine purchases to helping them meet larger financial goals," said Shailesh Baidwan, Maya Group President and Maya Bank Co-Founder.

A high-tech credit card experience

The rapid growth of Maya's credit card is driven by a blend of attractive rewards and a digital-first, easy-access experience. Cardholders enjoy 5% cashback at Landers, 2% on dining, and 1% on all other purchases—some of the most rewarding offerings in the market today.

However, it is the smooth, digital nature of Maya's card that will set it apart. Users complete the application straight from the app and may start using their virtual card right after approval for online spending.

Advanced features like dynamic CVV for added security, real-time spending limits, and digital management of credit lines give users total control—without ever having to stepping foot in a bank which is ideal especially when you are always on-the-go or filled with a hectic schedule.

"The early success of the Landers Cashback Everywhere card shows we are breaking barriers for the unhappily banked," said Angelo Madrid, Maya Bank President. "By embracing a high-tech approach, we are reshaping what credit means—making it fast, rewarding, and accessible to all.”

This shift in the financial landscape reflects a broad trend toward inclusivity, as more people gain access to tools that were once out of reach. The transition to digital banking and credit services has the potential to empower underserved communities, providing them with the means to manage and grow their finances.

By leveraging on technology, the barriers that traditionally hindered access to financial products are being lowered, creating new opportunities for Filipinos to adopt modern financial practices and improve their economic well-being.

Maya is part of the Fintech Ecosystem, with Maya and Maya Business, an Omni-Channel Payment Processor. Maya Bank is a digital bank regulated by the Bangko Sentral ng Pilipinas (BSP), with deposits insured by the Philippine Deposit Insurance Corporation (PDIC) up to P500,000 per depositor.

To learn more about Maya, check out maya.ph and mayabank.ph. Follow Maya @mayaiseverything on Facebook, Instagram, YouTube, and TikTok and @mayaofficialph on X. 

Maya is one of the #1 Fintech Ecosystems in the Philippines, with Maya and Maya Business. Maya Bank is a digital bank regulated by the Bangko Sentral ng Pilipinas (BSP), with deposits insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱500,000 per depositor. To learn more about Maya, check out maya.ph and mayabank.ph. Follow Maya at @mayaiseverything on Facebook, Instagram, YouTube, and TikTok and @mayaofficialph on Twitter.