Maya Warns Users of Fake “Maya Trade” Android App

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Editing by Nathaniel Cajuday

Fintech firm Maya has recently published an advisory to its users clarifying that the “Maya Trade” app on the Google Play Store is NOT the same as “Maya,” the official app and brand of Maya Philippines, Inc. and Maya Bank, Inc.

The firm emphasized that any materials released by Maya Trade with its logo, app, social media sites, and marketing materials with the Maya or PayMaya logo were not authorized by them.

“We strongly advise the public to take extra caution in downloading, registering, transacting, and dealing with Maya Trade,” it stressed.

The only authorized Maya app is downloadable here.

Maya was formerly known as Paymaya, but last May it rebranded itself to Maya to go along with the growing fintech industry. The new branding also included online banking services alongside its e-wallet, cryptocurrency trading, and micro-investments. (Read more: PayMaya Rebrands to “Maya” After Launching Crypto Offering)

On the other hand, its digital banking arm, Maya Bank, received its license in September last year and has been operating fully since August, after it received its certificate of authority (COA)Digital banks are a type of banking where banking services are delivered over the internet. 

Accordingly, five months after the official launch of Maya Bank, the digital bank has successfully registered 1 million customers and reached ₱10 billion in deposits. Prior to this, it had reached 650,000 customers and five billion pesos in deposit balances as of the end of the month of July. (Read more: Maya Bank Reaches P10-B Deposits in 5 Months)

In a recent promo from Maya called “Maya Free Bitcoin” where users are randomly receiving BTC, a student from Cebu City, recently won 1,000,000 worth of bitcoin by just paying for his meals through the mobile wallet. (Read more: Student Pays Meal with Maya, Wins 1M worth of Bitcoin)

This article is published on BitPinas: Maya Warns Users of Fake “Maya Trade” Android App

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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