A Tale of Two Digital Wallets in the Philippines: GCash vs Maya

For more than a decade ago, GCash and Paymaya were the two digital wallets that people in the Philippines used. Gcash gained more popularity over Paymaya. Perhaps due to name recall since it got ahead over Paymaya. 



It's also a battle between Globe vs Smart. Before they became open to all networks the only ones who can apply are those using the same networks.

When I closed my Unionbank debit account because I had to pay maintenance every year, I found Paymaya to be the best to attach to my Paypal account and I did not even spend anything to do so.

Years went by then Paymaya turned into a bank and changed its name to Maya. It was a good move. Short. Two syllables just like GCash. Being a bank, though, is its best benefit.

A few weeks ago I happened upon a Facebook post about a GCash employee who divulged that the main reason many hackers target GCash is due to its lesser security because it is just a wallet and not a bank. Whether that is true or not, I think it is logical. A bank will have stricter rules and security compared to a mere wallet.

The only reason I use GCash now is because the people I have to send payment to do not have Maya.

There are a lot of perks for using Maya, though. At the top of my mind are the following:
1. Security;
2. High interest rate for savings;
3. Free card;
4. Ease of use;
5. Transfer fee-free with Pesonet, available;
6. Shopping payment without fee;
7. Referral fee of P50: and
8. Lots of other gimiks available.

What are you waiting for?

Get a reward when you sign up to Maya using my invite code!

Send money, buy load, scan-to-pay and more!

Register using my invite code and you'll receive your Php 50 reward after you sign up, upgrade your account, and complete your first Maya transaction worth at least Php 20! For more details, visit http://www.maya.ph/refer

 

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