Digital bank Maya has rolled out Paleng-Kita, a new credit initiative aimed at helping market vendors and public transport drivers gain access to formal, collateral-free loans through their everyday digital transactions.
In a statement on Friday, Maya explained that Paleng-Kita ties credit access to regular use of QR Ph and the Maya app. The program enables micro-entrepreneurs to build a digital payment history, which in turn qualifies them for loans via Maya Advance.
“Many small vendors and transport drivers have never had access to formal credit,” said Maya Group president and co-founder Shailesh Baidwan. “By using their cashless payment history, we can offer them fair, transparent credit and help them build a stronger financial future.”
The program supports the Paleng-QR Ph initiative led by the Bangko Sentral ng Pilipinas and the Department of the Interior and Local Government, which aims to digitize payments among vendors and transport drivers using QR Ph, the national standard for person-to-merchant transactions.
With Maya’s AI-powered credit scoring system, borrowers can access credit lines starting at PHP3,000 without the need for traditional paperwork or collateral.
“Market vendors and transport cooperatives are vital to our local economies. They deserve financial solutions that are simple, fair, and designed around how they live and work. Digital transactions, including QR Ph, provide a credible, scalable way to extend credit responsibly,” Baidwan added.
