Maya is supporting activities under the Department of Social Welfare and Development’s (DSWD) UPLIFT Assistance, helping beneficiaries transition to digital payouts while expanding opportunities to access savings and other formal financial services.
Maya teams recently provided on-ground assistance to beneficiaries in Navotas City and Quezon City, including support for account setup and verification ahead of succeeding digital payouts.
Under UPLIFT, DSWD is providing financial assistance to around 2.5 million poor, near-poor and low-income Filipino households, while expanding the use of digital channels to make the delivery of support more convenient, efficient and accessible to beneficiaries.
“For us, the opportunity goes beyond digitizing the payout,” said Angelo Madrid, President of Maya Bank. “When people have access to a digital financial account, they can also start using other services that can help them save, make payments and manage their money better. That is an important part of building financial health over time.”
Beneficiaries who choose Maya as their digital channel can use the account for everyday payments and, subject to applicable requirements, access digital banking services such as savings and credit through Maya Bank. This can help turn a government payout into a broader entry point to formal financial services, while leaving beneficiaries in control of how they use and manage their money.
The effort supports the Bangko Sentral ng Pilipinas’ financial inclusion agenda, which seeks to move beyond access to transaction accounts toward deeper use of financial services and improved financial health. The BSP’s National Strategy for Financial Inclusion also specifically encourages the use of digital solutions for government cash-transfer and social safety-net programs.
Maya continues to support government initiatives where digital finance can help make essential services more accessible while giving more Filipinos opportunities to participate in the formal financial system.
