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Mar 26 2024 Transactions via InstaPay, PESONET up at end-Feb
By: BusinessWorld
Source: businessworldTRANSACTIONS coursed through the InstaPay and PESONet payment gateways went up to P2.54 trillion as of end-February, Bangko Sentral ng Pilipinas (BSP) data showed.
The combined value of transactions done through the BSP’s automated clearing houses InstaPay and PESONet rose by 38.5% from the P1.83 trillion recorded as of the same period last year.
In…
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Mar 25 2024 BPI to divest from GoTyme Bank
By: BusinessWorld
Source: businessworldBANK of the Philippine Islands (BPI) will divest from digital lender GoTyme Bank as it plans to sell all the shares it gained from its merger with Robinsons Bank Corp. (RBC).
The bank will sell 752,056,290 common shares in GoTyme Bank Corp. at P1.20 per share or P902.47 million in total, it said in…
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Mar 21 2024 RCBC Announces Nationwide Expansion of ATM Go Network
By: FintechNews
Source: fintechnewsR
izal Commercial Banking Corporation (RCBC) has announced a significant expansion of its RCBC ATM Go network, reportedly establishing it as the Philippine bank with the broadest mobile point-of-service merchant network.
According to the bank, this expansion extends across all 82 provinces, achieving a claimed 100% nationwide coverage and reinforcing its commitment to enhancing financial…
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Mar 19 2024 Digital payment solutions seen to boost small firms
By: BusinessWorld
Source: businessworldPAYMENT SOLUTIONS for small businesses must be geared towards digitalization to make their transition to cashless more seamless, according to Visa.
“For small businesses, getting paid and receiving money in a safe, secure way is extremely important to their operations,” Gareth Parrington, Visa’s Head of Commercial Money Movement in South East Asia, told reporters…
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Mar 18 2024 Fintech Alliance.PH prepares for sustained industry growth in 2024
By: Malaya
Source: malayaFintech Alliance.PH, the Philippines’ leading fintech industry organization, builds on its previous year’s achievements by commemorating milestones and welcoming 20 new members during its inaugural General Membership Meeting held at Ascott BGC, Taguig City on February 16, 2024.
With discussions on new collaborations and membership expansion, Fintech Alliance.PH is set to evolve from a…
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Mar 18 2024 Onboard to robust security protocol—FinTech Alliance.PH
By: Tribune
Source: tribuneThe leader of FinTech Alliance.PH has recently urged financial technology companies to be serious in onboarding intensive security protocols to protect its customers.
With the digital economy expanding rapidly and a growing number of Southeast Asians embracing digital finance and fintech solutions, Lito Villanueva, the Chief Innovations and Inclusion Officer of Rizal Commercial Banking…
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Mar 14 2024 Breaking Down Digital Banking Products in the Philippines
By: FintechNews
Source: fintechnewsD
igital banking has swiftly expanded across Asia, notably achieving reasonable success in nations such as South Korea, China, and Japan. Within Southeast Asia’s digital banking sector, the Philippines joined Singapore as early adopters of digital bank products and services amid a surge in demand for digital transactions in the last few years, serving…
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Mar 13 2024 6 Banks Revealed in Project Agila CBDC Pilot Concluding by End-2024
By: FintechNews
Source: fintechnewsI
n a recent press briefing, Deputy Governor Mamerto Tangonan disclosed that the Bangko Sentral ng Pilipinas (BSP) is poised to complete the trial phase of Project Agila, a wholesale Central Bank Digital Currency (CBDC) initiative, by the end of 2024.
The project aims to facilitate digital currency transactions among commercial banks and financial institutions…
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Mar 11 2024 Maya Bank expanding client base, offerings
By: BusinessInquirer
Source: businessinquirer
MANILA, Philippines – The operator of Maya Bank, which has been increasing its client base and launching more financial products, is targeting to become profitable by next year—a no small feat for digital banks both here and abroad.Voyager Innovations Inc. CEO and founder Orlando Vea, in a recent press briefing, said they were…
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Mar 08 2024 BSP: Only two of six PH digital banks are profitable
By: BusinessInquirer
Source: businessinquirerBangko Sentral ng Pilipinas Governor and Monetary Board Chair Eli Remolona, Jr. | PHOTO: Official facebook page of the Department of Finance.
MANILA, Philippines — Only two of the six digital banks in the country are profitable, with losses likely to persist in the medium term as the nascent industry continues to find the…