Fintech platform Maya, which used to be known as PayMaya, said it is confident that its rebranding and the addition of digital banking in its list of services will boost the app and eventually put it at par, if not surpass, its main rival GCash.
Voyager Innovations, the technology company behind e-wallet platform PayMaya and soon-to-be-launched digital bank Maya Bank, said it raised $210 million in new funds, propelling its valuation to unicorn status at nearly $1.4 billion.
PayMaya also said an added layer of security to the app is its real-time transaction history feature that enables users to track their transactions as it happens.
The central bank said using digital money as an alternative means of giving cash gifts is highly recommended to reduce physical contact and virus transmission between giver and receiver.