BSP approves amended guidelines for e-payments
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved new guidelines for the “Settlement of Electronic Payments under the National Retail Payment System (NRPS) Framework.” This move…
Fico’s study highlights frustrations with digital banking processes in PH
Global analytics software company Fico’s latest global consumer fraud research spotlights the critical need for efficient digital experiences among Filipino consumers when opening financial accounts via mobile apps or websites.…
GCash extends assistance to Typhoon Carina-affected users
In response to the impacts of Typhoon Carina (international name Gaemi), fintech app GCash has announced several relief measures to support affected users. Through its credit arm, Fuse Lending, GCash…
Alipay+ aims to reach 90 million merchants for 2024 summer campaign
Alipay+, the cross-border mobile payment and digitalization service operated by Ant International, continues its extensive global summer campaign, initiated for the UEFA EURO 2024. As the official payment partner of…
BSP surpasses digital payments’ goal
Based on the data of the Bangko Sentral ng Pilipinas (BSP), digital payment transactions in the country rose from 42.1% in 2022 to 52.8% in 2023. This growth, as recorded…
BSP automates intraday settlement to ease fund transfer gridlocks
The Bangko Sentral ng Pilipinas (BSP) and the Bureau of the Treasury (BTr) have introduced a fully automated Intraday Settlement Facility (ISF) to streamline financial transactions for financial institutions (FIs).…
GoTyme Bank gains ground with 3.7 million users
Digital bank GoTyme Bank has emerged as the fastest-growing bank in the country, registering 3.7 million users since its launch in the last quarter of 2022. The bank is attracting…
Maya Time Deposit Plus: Flexible, high-yield savings made easy
Digital bank Maya introduced Maya Time Deposit Plus, a flexible and rewarding savings tool designed to help users manage and grow their finances. Whether saving bonus paychecks, side gig earnings,…
GCash promotes savings among unbanked Filipinos
For Savings Consciousness Week, fintech app GCash offered unbanked and under-banked Filipinos access to convenient and safe high-earning savings accounts. According to GCash, 1 in 4 bank account holders in…
UBX: Open finance may improve credit access in the Philippines
Open finance has the potential to transform the financial industry by democratizing access to credit for the unserved and underserved segments in the Philippines, according to John Januszczak, president and…
Ant International expands support for global MSMEs
Ant International, a digital payment and financial services provider, announced its support for nearly 100 million micro, small, and medium-sized enterprises (MSMEs) worldwide. The company reinforced its commitment to MSME…
ACI: PH real-time payment transactions grow 24% in 2023
The latest report by ACI Worldwide, real-time electronic payment and banking solutions provider, shows that real-time payment transactions in the Philippines saw a 24% year-on-year increase in 2023. The report…
Visa Token Service boosts Apac’s digital economy
The widespread adoption of the Visa Token Service (VTS) helped boost digital commerce in 2023 in the Asia Pacific. The payment processor’s service, which replaces traditional card numbers with unique…
Payroll platform Deel launches spend card for contractors
Deel, a global HR and payroll platform, has introduced its new physical spend card, now available to contractors in 20 countries, with plans to expand further. The Deel Card, which…
Bayad expands services to boost small business income
In its continued development as a multi-service fintech institution, outsourced bill payment collection company, Bayad has launched Bayad Asenso. This new business payment solution, embedded within the Bayad App, aims…
UnaCash: 40% of Filipinos use BNPL for budget management
The survey's insights align with UnaCash's internal data, showing that middle-class consumers often use BNPL for significant purchases.
Paywatch secures $30 million funding to drive expansion in SEA
Earned-wage access (EWA) service provider Paywatch has raised $30 million (P1.76 billion) through a combination of equity and credit facilities to support its growth plans. This funding marks the largest…
Fintech Atome Financial secures $100 million loan facility
Atome Financial, a digital financial technology platform under the Advance Intelligence Group, has secured a three-year term loan facility from EvolutionX Debt Capital. The facility includes an accordion feature that…
MediCard utilizes UBX’s fintech solutions to enhance member services
MediCard Philippines Inc. (MediCard), a health maintenance organization (HMO), will utilize fintech company UBX’s comprehensive payment gateway, BUx, as payment option to its members. MediCard will also be using UBX’s…
Zed neobank gains BSP license to issue credit cards
Zed, a credit-led neobank, has received its Certificate of Authority from the Bangko Sentral ng Pilipinas (BSP), officially becoming the first Philippine neobank to operate as an independent credit card…
Elevate offers competitive USD transfer services for freelancers
Elevate, a fintech startup supported by Y Combinator, has raised $5 million in its latest funding round. The company, headquartered in London and Dubai, will use this capital to expand…
5 money-saving hacks you’ll achieve with a time deposit account
Banks offer a wide range of products and services that can improve people’s financial situations as well as safeguard their money, and many of them can be configured to meet…
Partnership with Pay&Go expands access to BPI products
BPI (Bank of the Philippine Islands) partnered with BTI Payments to enable customers to apply for various banking products directly through Pay&Go kiosks. This partnership aims to make financial services…
GCash slashes fees to make stock market investment affordable
Finance app GCash, in partnership with AB Capital Securities Inc. (ABCSI), has eliminated the P20 broker’s commission fee for transactions on GStocks PH, its trading platform. This move will lower…
Bayad and MyEG forge partnership to expand payment solutions
Bayad, an outsourced bills payment collection company, has joined hands with MyEG Philippines, an electronic solutions for online automation and government payment services provider to provide the public with accessible…
Payoneer: Small businesses ready to overcome headwinds for global growth
The findings of Payoneer’s, a fintech company, latest research found that small- and medium-sized businesses (SMBs) are recognizing the need to leverage new technologies, such as artificial intelligence (AI), to…
Visa empowers Filipino SMEs with digital payment tools
Visa, a global digital payments processor, is rolling out initiatives to support Filipino small and medium-sized enterprises (SMEs) in adopting digital payment solutions, particularly to enhance the tourism sector. This…
Igloo and Smart launch affordable phone protection plans
Igloo, a regional insurtech, has partnered with the mobile network Smart, to offer affordable phone protection plans. In a country where 84.4% of the population owns smartphones and spends nearly…
GHL Philippines partners with Alipay+ to offer digital payments
Payment service provider GHL Systems Philippines Inc. (GHL Philippines) has partnered with Alipay+ to allow local businesses in the Philippines to accept digital payments from leading Asian mobile wallets. This…
BayaniPay to expand services, reach after fresh investments
BayaniPay, a Filipino-led global payments process automation company, is expanding its services and market reach after receiving fresh capital of $3 million from lead investors Wavemaker Partners, PTGB, and Talino…
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