MAYA, a digital bank and fintech ecosystem in the Philippines, is extending its support to micro and small business owners with the launch of “Paleng-Kita,” a new credit program specifically designed for market vendors and public transport drivers.
Leveraging the Bangko Sentral ng Pilipinas (BSP) and Department of the Interior and Local Government (DILG)-led Paleng-QR PH initiative, Paleng-Kita offers collateral-free credit access to micro-entrepreneurs who regularly use QR PH and the Maya app for their daily transactions, linking digital payments to responsible lending.
“Many small vendors and transport drivers have never had access to formal credit,” said Shailesh Baidwan, Maya Group president and Maya Bank co-founder. “By using their cashless payment history, we can offer them fair, transparent credit and help them build a stronger financial future.”
Under Paleng-Kita, merchants registered with Maya QR can build the transaction history needed to qualify for credit through Maya Advance. Maya’s AI-driven scoring system assesses payment transactions and alternative data, eliminating the need for collateral or traditional credit histories. Approved borrowers can access credit lines starting at P3,000 via the fully digital Maya Advance product.
This initiative aims to address the significant credit gap for micro, small and medium-sized Enterprises (MSMEs), which constitute 99 percent of businesses in the Philippines but receive only a small fraction of total bank loans. Maya’s Paleng-Kita allows these entrepreneurs to establish creditworthiness through their everyday business activity.
Maya’s integration of payments and lending is part of a broader strategy to enhance MSME participation in the formal economy, supporting both the BSP’s digitalization agenda and the country’s financial inclusion goals.
Renan Santiago, head of MSME Business at Maya, emphasized that Paleng-Kita recognizes the vital role of vendors and drivers, making finance more accessible and empowering for everyday Filipinos through their digital payment activity. / KOC