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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