FINTECH | Maya introduces credit card installment feature in app
Cardholders may choose repayment terms of three, six, nine, or 12 months. Maya said the plans carry a fixed monthly interest rate of 1 percent regardless of the selected term.
Maya has launched a new feature that allows eligible credit card transactions to be converted into installment payments through its mobile app, offering cardholders more flexibility in managing larger purchases.
The feature, called Mini Payments, is available to holders of the Maya Black Credit Card and Landers Cashback Everywhere Credit Card. It enables users to convert eligible posted purchases into fixed monthly payment plans after a transaction has already been completed.
Cardholders may choose repayment terms of three, six, nine, or 12 months. Maya said the plans carry a fixed monthly interest rate of 1 percent regardless of the selected term. Applications may be approved within 24 hours, while payment schedules and remaining balances can be monitored through the Maya app.
To qualify, the total amount converted must meet minimum thresholds based on the chosen repayment period: P3,000 for three months, P6,000 for six months, P9,000 for nine months, and P12,000 for 12 months. Multiple eligible purchases may be combined to reach the required amount.
The company said users can select eligible posted transactions within the app and review the monthly payment amount, total interest, and payment schedule before confirming the conversion request.
Maya is also waiving processing fees for Mini Payments plans created through Sept. 30, 2026. Approval remains subject to credit evaluation.
The launch expands Maya’s credit card offerings as digital financial services providers continue to introduce tools that allow consumers to spread the cost of purchases over time.
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