Maya is strengthening its push for inclusive finance through a new partnership with SPARK! Philippines, aiming to improve access to financial tools and business support for women-led micro, small, and medium enterprises (MSMEs).
The collaboration brings together Maya’s digital financial services with SPARK!’s expertise in gender-focused training and advocacy, targeting a segment that continues to face structural barriers despite its significant role in the Philippine economy.
“This is a segment that remains underserved despite its scale,” said Toff Rada, Head of Corporate Affairs at Maya. “Our focus is to provide women-led micro businesses with practical tools and support, including financial education, that can help them manage daily operations and build more sustainable income over time.”
Bridging gaps beyond financing
While access to credit remains a key challenge, stakeholders say financial inclusion for women entrepreneurs requires a broader approach — one that combines funding with capacity-building and community support.
Maica Teves (left), Executive Director of SPARK! Philippines and Toff Rada (right), Head of Corporate Affairs at Maya, showing off the signed partnership agreement
Under the partnership, SPARK! Philippines will deliver training, mentorship, and grassroots programs designed to complement Maya’s suite of services, which include payments, savings, and credit solutions.
“Women micro-entrepreneurs are already driving economic activity in their communities, but many still face barriers beyond access to financing,” said Maica Teves, Executive Director of SPARK! Philippines. “By working with Maya, we aim to bring training and support closer to them, helping strengthen and sustain their businesses.”
MSMEs: A critical but underserved sector
Photo shows Maica Teves (seated left), Executive Director of SPARK! Philippines and Toff Rada (seated right), Head of Corporate Affairs at Maya. With them are (standing from left): Ethel Kalambakal, project staff; Ida Alcoba, Corporate Affairs specialist at Maya; Chloe Eunice Rudi, Project Officer at Spark! Philippines; Hans Kevin Madanguit, Senior Program Manager at Spark! Philippines; Nick Wilwayco, head of Corporate Communications and PR at Maya; Jackielyn Diola, ESG Corporate Affairs officer at Maya; Mary Bernadette Fernandez, Head of Business Banking at Maya; Stephen Seludo, Senior Business Lending Lead at Maya; and Renan Santiago, Head of Retail and MSME at Maya.
Women play a central role in the country’s MSME landscape.
Data from the Department of Trade and Industry and the Philippine Statistics Authority show that MSMEs account for 99.5% of all formal businesses, employ about 63% of the workforce, and contribute roughly 40% of economic output.
Yet adoption of digital financial tools among women-led enterprises remains uneven. A 2023 study by the Asian Development Bank found that only around 28% of women-led MSMEs use digital financial services, compared to 44% of male-led businesses.
This gap highlights both the challenges and opportunities in expanding financial access — particularly as digital platforms become increasingly central to business operations.
Leveraging digital tools for growth
IMAGE CREDIT: Maya
Maya’s ecosystem offers MSMEs a range of tools aimed at simplifying operations, from accepting digital payments to managing transactions and accessing short-term credit.
Through the Maya Business app, entrepreneurs can streamline cash flow and secure working capital for day-to-day needs such as inventory and operational expenses.
The company’s network also reflects the strong presence of women in grassroots commerce. More than 90% of its nationwide Maya Centers are operated by women, many of whom run neighborhood businesses such as sari-sari stores.
Toward more inclusive financial health
The partnership underscores a broader shift in the fintech sector toward holistic financial inclusion—moving beyond access to services and focusing on how these tools are used to create long-term impact.
By combining digital finance with on-the-ground support, Maya and SPARK! Philippines aim to enable more women entrepreneurs to scale their businesses, strengthen their financial resilience, and contribute more fully to local economic growth.
