Posts From Fintech News Philippines

NPC Says Unauthorised GCash Transactions Were Result of Phishing Attacks

The Philippines’ National Privacy Commission (NPC) concluded that the recent unauthorised deductions from multiple accounts from mobile wallet GCash amounting to PHP 37 million (approximately US$660,000) was the result of a phishing incident. This echoes what the Bangko Sentral ng

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Wise Users Can Now Send Up to PHP 9 Million to the Philippines

Online money transfer service Wise announced that its users can now send up to PHP 9 million (approximately US$161,000) to the Philippines. This is almost 18 times more than what they could send previously. Users can send PHP to any individual

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Netbank Closes Series A Funding Round Led by Beenext

Netbank, a Philippines-based neobank that offers Banking-as-a-Service solutions, announced that it has closed its Series A funding round. The investment sum was not disclosed. The round was led by regional venture capital firm Beenext with participation from Kaya Founders and

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Medalla Says GCash Hit by Phishing Scam, 80% Of Lost Funds Already Recovered

The Bangko Sentral ng Pilipinas’ (BSP) Governor Felipe Medalla said that the recent unauthorised deductions from mobile wallet GCash amounting to PHP 37 million (approximately US$660,000) was the result of a phishing incident and not hacking, according to a report

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Grab Philippines in the Midst of Issuing Refunds Totaling PHP 6.7 Million

Grab Philippines is reportedly in the midst of issuing refunds of PHP 6.7 million (US$ 118,500) to its users following the Philippine Competition Commission’s (PCC) orders to do so, according to the Manilla Bulletin. The e-hailing app needs to disburse

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Financial Services Revolution: Salmon’s Drive to Promote Inclusion

The economy in the Philippines is expanding at record speed, and its dynamic population – young, growing, and savvy at using mobile technologies – is set to become the key benefactor of the economic opportunities it creates, with a little

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Agoda Now Offers BillEase’s BNPL Payment Option for Filipino Travelers

BillEase, a consumer finance app offering BNPL, is now available as a payment option on online travel platform Agoda to give Filipino travelers more flexibility to pay in installments without a credit card. This integration is enabled by Alipay+, a

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Grab Philippines Slapped With Additional PHP 9 Million Fine for Delayed Refunds

The Philippine Competition Commission (PCC) has imposed another PHP 9 million (approximately US$160,000) fine on Grab Philippines for its failure to fully refund its customers more than three years after it was first ordered to do so. The latest fine

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LF Lending Services Modernizes Credit Scoring Process With FinScore’s Alternative Telco Data

Manila-based LF Lending Services is on the verge of digital transformation, starting with the integration of telco data into existing credit decisioning models. Unique insights from telco data allow LF Lending to predict repayment behaviors with improved speed and accuracy.

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13 Fintech Events in the Philippines to Attend in 2023

Adoption of digital financial services has risen substantially in the Philippines over the past years. As fintech and technology continue to revamp the Philippine financial landscape, we’ve curated a list of 13 upcoming fintech conferences and gatherings taking place this

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