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The Financial Inclusion Steering Committee (FISC), chaired by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, held its 9th  meeting  on 06 October 2020 via video conferencing facilities. The FISC meeting, attended by high level representatives from 20 government agencies, is a testament to the whole of government approach being employed to drive financial…

The Litex Market along Commonwealth Avenue in Quezon City may not yet have the facial lift it deserves but its vendors have already upgraded their system to catch up with the times as they embraced digital payment for a more convenient transaction.

Diskartech, an app of the Rizal Commercial Banking Corporation (RCBC), is being used by…

MoneyGram, a provider of cross-border P2P payments and money transfers, announced a partnership with PayMaya Philippines to enable real-time payments with Visa Direct.

The new digital capability will allow customers to send money from the United States to the Philippines through Visa’s real-time push-payment solution called Visa Direct.

Consumers in the United States can use MoneyGram’s mobile…

The Philippine central bank raised P120 billion in short-term securities on Friday due to strong demand. 

In a notice posted on its website, the Bangko Sentral ng Pilipinas (BSP) said it had fully awarded the 28-day bills it auctioned off out of total bids worth P129.1 billion. 

The auction was the fifth straight time the central bank…

THERE IS ROOM for growth in digital payments across cash-heavy Association of Southeast Asian Nations (ASEAN), including the Philippines, as businesses can tap underbanked consumers in markets with relatively high smartphone and internet penetration, the Hongkong and Shanghai Banking Corp. (HSBC) Global Research said on Thursday.

“While e-wallets are the most popular mode of payments in…

Grab, South East Asian ride-hailing app, announced the appointment of Grace Vera Cruz as Country Head for Grab Philippines.

Grace brings with her more than 15 years of business experience and vast industry knowledge to drive Grab’s mission in the Philippines.

Prior to Grab, she was the Managing Director of Seawood Resources, a Philippine-based investment company and…

A BUSINESS chamber is seeking rent relief for the smaller tenants of malls and commercial buildings, and proposed that they pay a percentage of sales until their businesses have recovered.

The Philippine Chamber of Commerce and Industry (PCCI) is appealing for relief for micro-, small-, and medium-sized enterprises (MSMEs), which it said are experiencing “insurmountable” financial…

The digitalization of small and medium businesses (SMBs) in the Philippines could add between US$26 to US$28 billion (PHP 1.17 to PHP 1.36 trillion) to the country’s GDP by 2024 and contribute to economic recovery post-COVID-19, according to the 2020 Asia Pacific SMB Digital Maturity Study.

The study, commissioned by Cisco and conducted by International Data Corporation…

ING Bank and UN children’s agency UNICEF have launched an initiative in the Philippines called ‘Fintech for Impact’ to support startups developing digital solutions that aim to empower young people, children and families.

Five fintech startups will receive equity-free investments, as well as technical and business mentorship from UNICEF, ING, and other experts for one year.

Oyunsaikhan Dendevnorov

“In the…

The Monetary Board has approved the Bangko Sentral ng Pilipinas’ (BSP) Digital Payments Transformation Roadmap 2020-2023.

The roadmap charts BSP’s current initiatives and strategies in advancing an efficient, inclusive, safe and secure digital payments ecosystem. It has identified two key strategic objectives.

First, is the strengthening of customer preference for digital payments by converting 50% of the…