BIZ BUZZ: Maya sets sights on 100k

Maya Group President and Maya Bank Co-Founder Shailesh Baidwan said they are hoping to cross the 100,000 mark in terms of users of their newly-launched credit card with retail chain Landers Superstore, optimistic that more users would be drawn in during the remaining months of the year leading to the Yuletide season

“(A) credit card is the single most searched financial service product over here. So obviously there’s a lot of demand and there’s a lot of customer desire to get a credit card,” Baidawn told Biz Buzz on the sidelines of the launch of the Landers Cashback Everywhere Credit Card at the Landers Superstore in Arca South, Taguig.

Baidwan also mentioned that there are only an estimated 12 million credit card users in the Philippines, which has a population of around 116 million, indicating that there is a lot of room for growth.

The Maya group and Landers Superstore had a soft launch in August and has garnered 50,000 users as of October.

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The two firms have touted that it has some of the most rewarding cashback rates in the market, which is at 5 percent at Landers, 2 percent on dining, and 1 percent on other purchases.

Baidwan said that they will be implementing more exciting features, including more flexible installments, by the early next year.