Digital banks step up push into credit as lending competition heats up

MariBank begins limited rollout of credit card product for select users.

MariBank has begun rolling out its credit card product to a limited group of users, offering up to 1% cashback and a fee-free structure as it expands beyond basic digital banking services.

The digital bank, which is backed by Sea Group (the parent company of Shopee), is currently inviting select users to apply for MariBank Credit. The product links with its existing ecosystem, allowing users to manage credit through their MariBank account interface.

Pilot users report approved credit limits ranging from ₱30,000 to ₱400,000. The card carries no annual fees, no foreign exchange markups, and no interest charges when balances are paid in full and on time. It also offers up to 1% cashback on eligible purchases.

Users aged 21 to 65 with monthly income above ₱10,000 are expected to be eligible once the product moves beyond its pilot phase.

The move into credit cards raises the stakes for MariBank, which like many digital lenders is still working to prove long-term profitability in a market where margins remain tight and credit risk management is central to sustainability. Fee-free structures and cashback incentives add pressure on unit economics, especially if repayment behavior or credit uptake does not scale as expected.

Across the sector, digital banks are increasingly leaning on lending products to drive revenue as deposit-led growth alone proves insufficient. That strategy, however, comes with higher exposure to defaults, tighter regulation, and more competitive pressure from both traditional banks and fintech players already established in consumer credit.

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