The Bangko Sentral ng Pilipinas (BSP) has agreed to the use of digital identification and verification of bank clients. BSP also released guidelines on electronic Know-Your-Customer (e-KYC), which recognizes its use through […]
All (Bangko Sentral ng Pilipinas) BSP-supervised financial institutions (BSFIs) that offer QR code-enabled payment services should start using QR Ph on their web and mobile channels starting July 1, 2023. This was […]
Citing the objective of the Digital Payments Transformation Roadmap 2020-2023, the Bangko Sentral ng Pilipinas (BSP) is considering lowering transaction fees for e-payments and other platforms. “I am sure that the Bangko […]
Citing protecting customers from IT-related risks, the Bangko Sentral ng Pilipinas (BSP) has announced the changes in the electronic money (e-money) operations in the Philippines. In a media advisory, the BSP said […]
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 2021, BSP […]
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 program was […]
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, Paleng-QR Ph […]
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 exchange. The […]
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 global provider […]
The widening scope of financial services also broadens the attack surface for cybercriminals to exploit. This is one of the key areas highlighted during Trend Micro’s 2022 BFSI Cybersecurity Summit Philippines held […]
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 and security […]
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 one of […]
Union Bank of the Philippines (UnionBank) is supporting the adoption of open finance and open banking with the goal of fast-tracking digital inclusion in the country. The Bangko Sentral ng Pilipinas released […]
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 use of […]
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 Digital Bank. […]
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%. By the […]
The Bangko Sentral ng Pilipinas (BSP), together with the Philippine Payments Management Inc. (PPMI) launched the Multiple Batch Settlement (MBS) facility of the PESONet electronic fund transfer service. “This new feature enhances […]
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 in the […]
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., the digital […]
The Bangko Sentral ng Pilipinas recognized PayMaya as an Outstanding Partner at the recently held 2021 Outstanding BSP Stakeholders’ Appreciation Ceremony, themed “Pagpupugay at Pagkilala…sa Gitna ng Hamon ng Pandemya.” “We give […]
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 Philippines. UBX […]
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 company, DigibankASIA […]
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 digital banks […]
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 during the […]
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 of BNPL […]
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 a bank […]
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 5 million […]
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 to combat […]
Stuart Tomlinson, Visa country manager for the Philippines and Guam (third from left), Pia Roman-Tayag, head of Inclusive Financial Advocacy at the Bangko Sentral ng Pilipinas (fourth from left), and Nanding Josef of […]
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