Singaporean Fintech Spenmo Bags Payments License From BSPby Fintech News Philippines April 29, 2022
Singapore-based payments firm Spenmo announced that it has secured a Operator of Payment System (OPS) license from the Bangko Sentral ng Pilipinas (BSP).
This will give Filipinos access to both bill payments and employee spend management in one platform.
Aside from accessible payment solutions, Spenmo also provides unlimited physical and virtual corporate cards for its customers, offering local payments with a flat rate of PHP 5.00 per transaction.
In the Philippines, Spenmo said that it has processed more than PHP 20 billion in business transactions and doubled their growth every month since entering the market.
“As Spenmo starts its operations in the Philippines, we are looking forward to launching this software to Filipino businesses and be able to aid them in managing and administering their payment networks.
With the BSP’s push for tech-powered financial solutions, we are optimistic to see a fast-growing market in the country and expect hundreds more businesses to join this year which is very exciting.”
says George Padin, Country Head for Spenmo Philippines.