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As the Association of Southeast Asian Nations (ASEAN) launches the first ASEAN Savings Day on October 31, 2020, the Philippines together with the other member countries of the ASEAN joins this campaign.

Initiated by the Committee for Financial Inclusion that aims to raise awareness on the importance of savings. Starting this year, the celebration which coincides…

MANILA – Digital payment transactions in government agencies are expected to increase as the Bangko Sentral ng Pilipinas (BSP) encourages more offices to use EGov Pay.

In a virtual event titled Advancing E-Payments via Public-Private Partnership hosted by the Makati Business Club (MBC) Wednesday, BSP Governor Benjamin Diokno said there are over 280 government agencies and local…

BUSINESS and government transactions will continue to boost the growth of digital payments in the Philippines moving forward, with the central bank working to develop electronic schemes to aid consumers in their shift online.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in a forum yesterday that the central bank is working to develop…

THE pandemic has exposed gnawing gaps in the computation of GDP that would require countries in the Asia and the Pacific region to look beyond it, according to the Asia-Pacific Economic Cooperation (Apec) Policy Support Unit (PSU).

In a statement, Apec PSU Director Denis Hew said GDP had “blindspots” that prevented it from measuring the distribution…

THE BANGKO SENTRAL ng Pilipinas (BSP) will require banks to submit collateral documents online for the verification of rediscount loans availed by lenders as the coronavirus pandemic continues.

Memorandum No. M-2020-081 signed by BSP Deputy Governor Francisco G. Dakila, Jr. on Oct. 22 said the usual on-site credit verification activities will be done remotely by allowing…

The Global Privacy Assembly (GPA) has created a new working group that will build on the successes of the Covid-19 Task Force in influencing global policy discussions on data privacy during the pandemic, with the country represented by the National Privacy Commission (NPC) chosen to lead the efforts.

“As the Task Force has concluded, the GPA…

JazzyPay is a web and mobile app that allows businesses to accept cashless payments. There are no setup or subscription fees, neither is there a monthly sales volume quota. Partner merchants are charged only for every successful payment transaction. 

Payments are received within 2–3 days, instead of the usual 14, and are accepted through 27 payment methods,…

THE National Government (NG) borrowed P2.56 trillion from local and foreign sources in the first nine months of 2020, data from the Bureau of the Treasury (BTr) showed.

The government’s gross borrowings in the nine-month period surged by 179% from the P917.282 billion recorded a year ago.

In September, borrowings reached P90.6 billion, more than five times…

First IoT offer for enterprises in the Philippines

PLDT Inc., through PLDT Enterprise and its Wireless arm Smart Communications. Inc., is in an advanced stage of discussion with long-time partner Nokia to provide next-generation Internet of Things (IoT) services for its customers. Together, Smart and Nokia intend to build the “Smart IoT Platform” – the first…

The current COVID-19 health crisis is unprecedented in its scope, impacting all countries and the world’s economy at large.

In banking, COVID-19 has accelerated the shift to digital, pushing customers towards mobile banking and contactless payments. For financial institutions, COVID-19 has acted as a catalyst for digital transformation, revealing how outdated current processes were and how…