MAYA BANK has issued over 50,000 credit cards in partnership with membership shopping mart Landers Superstore as of Nov. 11, or just three months after the product’s launch.

“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,” Maya Group President and Maya Bank Co-Founder Shailesh Baidwan said in a statement on Tuesday.

Maya Bank said 61% of the credit cardholders reside outside Metro Manila. It added that 42% of their card users do not have another credit card.

The high credit card issuance was driven by the rewards and technology the card offers, Maya Bank said.

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

The application and approval process for the card is done fully online via Maya app. Applicants only need a Landers membership and a Maya account.

Cardholders get 5% cashback at Landers Superstore, 2% on dining, and 1% on all other purchases.

The card also includes features like card verification value or CVV for security, real-time spending limits, and digital management of credit lines.

Maya Bank is one of the six licensed digital banks in the country. It previously said it expects to breakeven by this year and be profitable by 2025.

The digital bank is owned by Voyager Innovations, Inc. PLDT Inc. is Voyager’s main shareholder. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — A.M.C. Sy

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