Posts From Fintech News Philippines
Leapgen and FinScore Join Forces to Enhance Microloan Access for Filipinos
Local fintech firm Leapgen Lending has announced a partnership with FinScore, a Philippines-based alternative credit scoring provider. This collaboration aims to offer more accessible microloan options for individuals facing challenges in accessing traditional banking services. FinScore specialises in alternative credit
Read MoreBSP Greenlights Merger Between BPI and Robinsons Bank
The Bangko Sentral ng Pilipinas (BSP) has approved the merger between Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC). BPI will emerge as the surviving entity following this merger. This decision follows a series of approvals from
Read MoreCoins.ph Raises Daily Cash-in Limits up to PHP 10 Million
Philippines’ cryptocurrency exchange Coins.ph announced that it has increased its daily cash-in limits for its users. Level 2 accounts, which require ID and selfie verification, now have a daily cash-in limit of PHP 500,000. Coins.ph said that Level 1 users
Read MoreBSP Unveils Initiatives to Boost Sustainable Finance in the Philippines
The Bangko Sentral ng Pilipinas (BSP) has given the green light to a set of temporary measures aimed at encouraging banks to extend loans or finance green and sustainable projects. These measures also cover transition financing for decarbonisation. Specifically, they
Read MorePDAX Expects Trading Volume Surge For VASPs Amidst Binance Exit
The Philippine Digital Asset Exchange (PDAX) is anticipating a surge in cryptocurrency trading volumes within the Philippines, following the imminent departure of Binance, a leading global cryptocurrency exchange. PDAX CEO Nichel Gaba envisions the expected departure of Binance, which has
Read MoreBSP to Extend Electronic Money Licence Moratorium to End-2024
The Bangko Sentral ng Pilipinas (BSP) is extending the moratorium imposed on the issuance of licences to new non-bank electronic money issuers (EMIs) by another year. BSP Deputy Governor Mamerto Tangonan said the moratorium on the entry of new EMI-non-bank
Read MorePetronas FutureTech Spearheads Startup Advancement in Energy and Beyond
The accelerated energy transition amidst pressing climate concerns has compelled industry players to contribute actionable solutions in driving positive change and sustainable development. Rising up to the challenge, Petronas, a global energy corporation, has significantly expanded its scope beyond traditional
Read MoreBillEase and Alipay+ Unveil Auto-Debit Feature to Simplify Digital Payments
BillEase, a consumer finance and ‘buy now, pay later’ app, has partnered with Ant International’s Alipay+ to launch an auto-debit feature, aiming to simplify online transactions. This new facility, named Alipay+ Auto Debit, allows users to pre-authorise Alipay+ affiliated merchants
Read MoreDigital Banks Navigate Lending Challenges Amid Deposits Growth, BSP Reports
The Bangko Sentral ng Pilipinas (BSP) has recognised challenges faced by digital banks in lending and payment collection. BSP Governor Eli M. Remolona, Jr. highlighted the struggles these online banks face in effectively managing loans, despite their success in amassing
Read MoreIloilo City Joins BSP’s Digital Payments Push with Paleng-QR Ph Plus Adoption
Iloilo City has become the latest among 15 local governments in the Philippines to embrace the Paleng-QR Ph Plus programme, an initiative backed by the central bank to promote the use of digital payments in public markets and local transportation.
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