BSP survey shows uptick in agricultural loans
According to the 2022 Countryside Bank Survey (CBS) report released by the Bangko Sentral ng Pilipinas (BSP), the share of agriculture loans and services rose to 18.1% in 2022, with…
Transform your loose change into high-interest savings with Maya
Bangko Sentral ng Pilipinas’ (BSP) Coin Deposit Machine (CoDM), enables Filipinos to turn their coins into valuable assets. Here’s how Maya can help you make the most of your digital…
BSP continues push for digital payments in government
The Bangko Sentral ng Pilipinas (BSP) is advocating for the digitalization of payments for government transactions, aiming to expedite service delivery and improve financial accessibility for citizens. The BSP’s initiative…
BSP hits 50% digital payment target
The Bangko Sentral ng Pilipinas (BSP) attributed the 50% target growth in digital payments to the government’s digital transformation efforts, especially at the grassroots level. BSP is optimistic that we…
BSP calls on BFSIs to join open finance standards consultation
The Bangko Sentral ng Pilipinas (BSP) will soon begin consultations for the “PH Open Finance Pilot” in crafting the development of open finance technical and operational standards and arrangements. In…
BSP replaces ‘worn-out’ bills with digital cash in Tagbilaran
Residents of Tagbilaran City were able to exchange their unfit bills and coins for digital cash under the Bangko Sentral ng Pilipinas’ (BSP) program. The BSP Piso Caravan currency exchange…
BSP launches Paleng-QR Ph Plus in Tagbilaran City
The Bangko Sentral ng Pilipinas (BSP) brings its “Paleng-QR Ph Plus” program to Tagbilaran City in Bohol as part of expanding digital payments in the Philippines. Launched on Jan. 10,…
BSP grants Coins.ph another license for digital currencies
Digital wallet and crypto exchange provider Coins.ph received the Advanced Electronic Payment and Financial Services (EPFS) license from Bangko Sentral ng Pilipinas (BSP) covering the operation of the Coins Pro…
Consumer behavior drives digital adoption in banking sector — Finastra
Usage of e-wallets during the pandemic saw an unprecedented surge in the Philippines. This continues and other financial services are easing into the consciousness of consumers, according to Finastra, a…
GoTyme Bank optimizes IT infrastructure, security measures
After receiving a license to operate from the Bangko Sentral ng Pilipinas, GoTyme Bank, a partnership between the Gokongwei Group and Singapore-based digital banking group Tyme, is optimizing its tech…
Digital payments make up 30% of PH retail transactions in 2021
According to the latest e-payments data from the Bangko Sentral ng Pilipinas (BSP), digital payments grew by over 30% in 2021 from 20% in 2020. The rise in e-commerce is…
Bangko Sentral, PPMI to launch 3 e-payment streams
In the course of two years, the Bangko Sentral ng Pilipinas (BSP) together with the Philippine Payments Management Inc., (PPMI) are set to launch three e-payment streams to push the…
Uno Digital Bank unveils new brand identity
Ahead of its intended launch in Q2, 2022, UNObank Inc., a digital bank licensed under the Bangko Sentral ng Pilipinas’ (BSP) Digital Banking License framework, has rebranded UNObank to UNO…
BSP unveils open finance roadmap to boost financial inclusion
The Bangko Sentral ng Pilipinas (BSP) has launched “Open Finance Roadmap 2021-2024” which is aimed to expand financial inclusion in the Philippines. Pre-pandemic, Filipinos with bank accounts stood at 29%.…
Digitalization may ease inflation in the long run — BSP
With licenses issued to digital banks and digital payments adoption on the rise, the Bangko Sentral ng Pilipinas (BSP) sees that digitalization has the potential to ease the country’s inflation…
Voyager’s PayMaya secures digital bank license from BSP
The Bangko Sentral ng Pilipinas (BSP) has granted digital payment PayMaya Philippines (PayMaya) license to operate as a digital bank. Operated by Voyager Innovations, the fintech arm of PLDT Inc.,…
UBX’s open finance platform i2i drives financial inclusion in PH
Just two years after it was launched, UBX Philippines (UBX) open finance platform i2i (island-to-island, institution-to-institution, individual-to-individual) has served the unbanked and underbanked individuals in financially underserved communities across the…
UNObank issued a digital bank license in the Philippines
UNOBank, a fintech with headquarters in Singapore, secured a license from the Bangko Sentral ng Pilipinas to operate a digital bank in the country. UNObank is managed under fintech holding…
Neobank Tonik secures digital bank license from Bangko Sentral ng Pilipinas
Neobank or digital bank Tonik said it was able to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP). In December 2020, BSP released the guidelines for…
Bayad app obtains BSP license to become an e-money issuer
Pera transaction app Bayad was granted a license by the Bangko Sentral ng Pilipinas (BSP) to operate as an Electronic Money Issuer (EMI). Use of e-wallets or electronic wallets skyrocketed…
PayMaya is first PH fintech firm to enable merchants with QR Ph
Digital financial services company PayMaya is the first financial technology firm in the country to adopt QR Ph for merchants, the national quick response (QR) code standard for consumer-to-business payments…
BillEase expands ‘Buy Now, Pay Later’ reach in PH through partnership with 2C2P
Homegrown fintech company First Digital Finance Corp. (FDFC) which powers the leading Buy Now Pay Later (BNPL) app BillEase is partnering with Southeast Asia-based payments leader 2C2P to increase access…
Fintech groups support sandbox initiative in PH to encourage innovation
FinTech Alliance.PH and FinTech Philippines Association announced plans to collaborate in introducing the Philippines’ Fintech Industry Sandbox, which is supported by the UK Prosperity Fund Asean Economic Reform Programme (Asean…
Bangko Sentral introduces digital banking framework
The Monetary Board approved the recognition of digital bank as a new bank category that is separate and distinct from the existing bank classifications. A digital bank is defined as…
All-digital bank pushes for e-payment adoption with ING Pay
ING Philippines unveiled its latest e-payment system ING Pay in anticipation of large-scale digital transactions in the coming months as the Bangko Sentral ng Pilipinas explores more use cases of…
BSP’s digital PERA aims to boost retirement savings of 5M Filipinos
The Bangko Sentral ng Pilipinas (BSP) on Tuesday has launched its digital Personal Equity and Retirement Account (PERA) program that will boost retirement savings amid the pandemic, targeting to reach…
PH payment management body says lockdowns spur rise in digital payments services
Based on the data of Philippine Payments Management, Inc. (PPMI), InstaPay recorded 29.53 million transactions for the period of March-May 2020, when several parts of Luzon are put in quarantine…
BSP notes rise in digital payments amid quarantine
The Bangko Sentral ng Pilipinas (BSP) recognizes the need for adopting contactless payments amid the highly contagious disease COVID-19. With more and more companies offering financial technology services, people are…
e-Money industry supports BSP call to shift from cash to digital payments amid COVID-19
The Electronic Money (e-Money) industry supports the call of the Bangko Sentral ng Pilipinas (BSP) to shift from cash to digital, where possible, in light of the novel coronavirus (COVID-19)…
Philippine banks need to take cybersecurity seriously
Photo by Florante Valdez / Pixabay Bangko Sentral ng Pilipinas warns financial institutions of cyberattack threats that can not only compromise user data but may also cripple operations. Reports of…
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