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Feb 12 2024 BSP digital currency possible next year
By: ManilaBulletin
Source: manilabulletin
The Bangko Sentral ng Pilipinas (BSP) may issue its own central bank digital currency (CBDC) as soon as next year or by 2026 in a bid to replace the unregulated cryptocurrencies, said BSP Governor Eli M. Remolona Jr.
Remolona has hinted before that a CBDC will happen within his six-year term that started on… -
Feb 07 2024 PHL likely achieved end-2023 payments digitalization target
By: BusinessWorld
Source: businessworld
The Bangko Sentral ng Pilipinas (BSP) is confident that the country has achieved its target to digitize 50% of retail transactions by end-2023 and is now ready for the next phase of its 2024-2026 Digital Payments Transformation Roadmap.I believe we reached our 50% target by the end of 2023,” BSP Deputy Governor Mamerto…
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Feb 06 2024 PhilSys Check Enhances ID Verification with New Authentication Services
By: FintechNews
Source: fintechnewsT
he Philippine System of Identification (PhilSys) has introduced an authentication service, PhilSys Check, to improve the security of transactions through a digital signature in a QR code on PhilID cards and ePhilIDs.
This service is accessible via a website for various users and is complemented by fingerprint biometric authentication at Civil Registry System facilities…
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Feb 05 2024 SEC revokes registration of Cryptoasset
By: Philstar
Source: philstarThis undated file photo shows a building of the Securities and Exchange Commission.
MANILA, Philippines — The Securities and Exchange Commission (SEC) has punished a firm with a fine and revocation of its registration for undertaking fraudulent investment-taking activities.
In an order dated Feb. 2, the SEC revoked the certificate of incorporation and registration as…
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Feb 02 2024 This Pinoy company is making an impact through financial technology
By: Philstar
Source: philstarGoodTech Information Systems Inc., the parent company overseeing GoodBank, was notably the only Filipino company featured in the startups segment of the Asian Financial Forum held from Jan. 24 to 25, 2024
HONG KONG, China — “This business model is actually based on serendipity.”
This was how GoodBank co-founder Jove Tapiador described how their mission as a… -
Jan 31 2024 Digital payments may make up 67% of total retail transactions this year
By: BusinessWorld
Source: businessworldMORE THAN HALF of retail payments in the Philippines will be done digitally this year amid the growing adoption of online solutions, Filipino financial technology (fintech) firm Mochi said.
Mochi, a startup that specializes in invoicing and billing solutions, said in a statement on Monday that they see continued growth in digital payments this… -
Jan 30 2024 Brankas publishes first-ever ASEAN Bank Stability Report, showing 2023 uptime performance from top banks including RCBC and Bank Mandiri
By: PRNewswire
Source: prnewswire
SINGAPORE, Jan. 29, 2024 /PRNewswire/ — Brankas today released the Bank Stability Report 2023 ASEAN, offering valuable insights into the uptime performance of top banks in the Philippines and Indonesia. The report, which includes consumer banks the likes of RCBC, Bank Mandiri, and UnionBank, informs businesses, partners, and end users on the infrastructure reliability of the banks they… -
Jan 29 2024 GCash Rolls Out Fraud Insurance to Protect e-Wallet Transfers From Scams
By: FintechNews
Source: fintechnewsG
lobe-backed fintech GCash has recently unveiled Send Money Protect (SMP), an in-app embedded insurance feature aimed at bolstering security for users’ money transfers against fraud. This development addresses growing concerns over mounting digital transaction scams in the Philippines.
For PHP 30, SMP offers users thirty days of enhanced protection for their Express Send transactions,…
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Jan 26 2024 PESONet’ InstaPay transactions up 29 percent
By: Philstar
Source: philstarPESONet and InstaPay are automated clearing houses, created under the BSP’s National Retail Payment System (NRPS) to promote a safe, efficient, affordable, inclusive and reliable retail payment system.
MANILA, Philippines — Driven by the wider use of electronic money and online banking, fund transfers via PESONet and InstaPay jumped by 29.3 percent to a…
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Jan 25 2024 BSP to issue new bank-disclosure rules
By: BusinessMirror
Source: businessmirrorTHE Bangko Sentral ng Pilipinas (BSP) would soon release new guidelines that would expand key banking indicators and measures, including loans that worsen the climate crisis, a high-ranking official said.
BSP Deputy Governor Chuchi G. Fonacier said the central bank would roll-out its report on taxonomy either in the last week of January or…