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Sep 24 2020 Payment Platform Bayad Center Records Huge Spike in Digital Transactions
CIS Bayad Center, a multi-channel payment platform in the Philippines, reported a significant growth in digital transactions within its biller and partner network since the month of May 2020.
As of August 2020, online payments recorded a year on year growth rate of 130% compared to the same period last year. Digital transactions account for about…
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Sep 17 2020 Philippines Airline Cebu Pacific Opts for Cellpoint Digital’s Payment Platform
Cebu Pacific Airlines airline has selected CellPoint Digit to implement a Payment Platform across all its digital channels.
The platform called Velocity, will enable Cebu Pacific to ease the payment experience of its repeat customers by deploying stored cards in all its digital channels with a single sign-on.
According to CellPoint, stored cards will generate a double-digit…
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Sep 08 2020 Filipino Teachers Offered Alternative Income Source Through RCBC’s DiskarTech App
Rizal Commercial Banking Corporation (RCBC) has partnered with PLDT, a major telco player from the Philippines, to improve the welfare of the country’s educators by offering them an alternative income source during the COVID-19 pandemic.
RCBC, through its DiskarTech app, will be offering this alternative digital livelihood option as a part of PLDT – Smart Foundation’s (PSF)…
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Sep 06 2020 Bangko Sentral ng Pilipinas Inks Cooperation Agreement with Indonesia’s OJK
The Bangko Sentral ng Pilipinas (BSP) and Otoritas Jasa Keuangan (OJK) has signed a Memorandum of Understanding (MOU) on 1 September 2020.
The MOU was formed to facilitate consultation, cooperation and the exchange of information between the two institutions. It aims to provide a framework for dialogue and cooperation between OJK and BSP to discuss initiatives…
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Sep 03 2020 Fintech Report Philippines 2020: Mapping out the Fintech Philippines Ecosystem
The Philippines’ fintech ecosystem is brimming with innovation with a vibrant mix of entrepreneurs attempting to fill in the gap within the financial system. Despite the strides that the country has made in this space, the Philippines’ narrative has often been overlooked by international media when examining financial innovations within South East Asia.
The Fintech News…
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Sep 02 2020 Alibaba Cloud joins FinTech Alliance.ph
During the recent virtual general membership meeting of the Fintech Alliance.ph, Alibaba Cloud was inducted as its newest member. Alibaba Cloud is the data intelligence backbone of Alibaba Group with more than 3 million customers worldwide.
Alibaba Cloud, founded in 2009, is a global leader in cloud computing and artificial intelligence, providing services to thousands of…
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Aug 30 2020 BSP Governor Diokno to Lead Virtual Launch of Digital Pera
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno will lead the virtual launch of the Digital Personal Equity and Retirement Account (PERA) which will be broadcast live via the BSP’s Facebook page on September 8.
The initiative, which is carried out by BSP in collaboration with the Trust Officer Association of the Philippines, is themed,…
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Aug 11 2020 BIG BUZZ: Courting a Financial Crisis
What can turn this coronavirus pandemic into a financial crisis? A populist legislation can, especially when it obliges all lenders to extend a yearlong grace period to all borrowers.
Section 3 of House Bill No. 6953—the so-called Bayanihan 2 bill—proposes that a 365-day moratorium on loan and interest payments be enforced in any area under any…
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Aug 11 2020 365-day debt moratorium excessive, to harm both FIs, borrowers–fintech group
THE yearlong grace period for loan and interest payments proposed under the Bayanihan to Recover as One Act Part 2 or Bayanihan II may do more harm for both the financial institutions and borrowers than relief, a financial technology group said. In a position paper submitted to the bicameral committee on Tuesday, Fintech Alliance.ph said that…
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Jul 07 2020 ASEAN Financial Innovation Network (AFIN) Lands Partnership with Fintech Alliance.PH
Filipino fintech players can expect a boost from their regional counterparts as local trade association Fintech Alliance.ph inks a deal with the ASEAN Financial Innovation Network (AFIN).
The two parties yesterday agreed in a signed memorandum of understanding to promote the use of API Exchange (APIX), an online fintech marketplace and sandbox platform developed by AFIN,…