AIF: Maya boasts advantage over mobile banks

Maya, one of the leading mobile banking applications in the country, is encouraging business owners to use its app as it showcases seamless transactions.

In his speech during the Asian Innovation Forum (AIF), Joms Ramirez, the financial app’s regional business head in the NCR, said that aside from smooth transactions, small to medium business owners won’t have a hard time checking their transactions as they can easily track them through the application.

The AIF is an initiative of DAILY TRIBUNE to promote the development of small businesses.

Additionally, the mobile banking application will help aspiring business owners establish their businesses and allow them to grow, he said.

“No collateral, no documentation needed, and as long as you use it, it will expand further,” Ramirez said, adding that there is no interest, but only a service charge.

He explained that as long as the money was being spent well in the businesses, there would be no interest charged.

Most of the businesses in Taytay, Rizal, where the forum was held, are focused on ready-to-wear (RTW) clothing.

Taytay has been a hub for clothes in the 80s and 90s but faced stiff competition from clothing companies in countries like China and Bangladesh.

Still, its Clothing Tiangge, where the AIF was held, has brought back its robust RTW industry to the forefront of national attention.

“Many in our town lost our livelihood because of the competition from abroad, but we are on the rebound and with added financing can project strongly anew in the foreign market,” AIF attendee Rupert Santos told this paper.