Posts From Fintech News Philippines
BSP’s Push to Standardise QR Codes Helps Salmon Expand Financial Inclusion
Bangko Sentral ng Pilipinas’ (BSP) recent moves to standardise QR payment codes across the Philippines are helping democratise consumer credit in the Philippines in unexpected ways, with Salmon leading the charge. Based on a global standard for secure payments, QR
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Paywatch Launches in the Philippines, Plans Indonesia Expansion by Year-End
Earned Wage Access (EWA) service provider Paywatch has officially launched in the Philippines, its third market after Malaysia and South Korea. The company will also launch in Indonesia before year-end. Paywatch is a bank-backed and regulator-approved EWA solution that allows
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Red Hat and AWS Powers UnionBank’s Digital Transformation Journey
The Union Bank of the Philippines is using Red Hat OpenShift Service on Amazon Web Services (AWS) to accelerate its digital transformation and provide more personalised financial services to its customers. This has allowed UnionBank to migrate its mission-critical workloads
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BSP and CDA to Step up Digital Payments Oversight
The Bangko Sentral ng Pilipinas (BSP) and the Cooperative Development Authority (CDA) signed an agreement to work together to oversee cooperatives that offer electronic money and payment services, including ATM deployment. The agreement sets out how the BSP and CDA
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UnionBank Invests PHP300M More in Digital Bank to Fuel Growth
Union Bank of the Philippines has invested an additional PHP 300 million into the UnionDigital Bank following the PHP 900 million funding in July this year, according to PhilStar Global. The bank had disclosed to the Philippine Stock Exchange of
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YC-Backed Cera Brings Stablecoin-Based U.S. Stock Investing to the Philippines
Cera, a U.S. stock trading platform backed by Y Combinator, has announced its beta launch in the Philippines through a partnership with digital asset custody and infrastructure firm Fireblocks. The platform allows Filipinos and anyone anywhere in the world to
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Tonik Rolls Out Insurance Product for Loan Borrowers
Philippines’ digital bank Tonik has tied up with life insurance company Sun Life Grepa Financial to launch Payhinga, an inclusive insurance product for loan borrowers. Payhinga will complement Tonik’s existing loan offerings and will be readily available to customers applying
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Viber Launches New Commercial Tools to Help Filipino MSMEs Grow
Rakuten Viber, a messaging app, has launched new commercial tools for micro, small, and medium-sized enterprises (MSMEs) in the Philippines, according to a report by the Manila Buletin. The new tools are designed to help MSMEs improve their marketing and
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Governor Remolona: BSP Hopes to Issue More Digital Bank Licenses Soon
The Bangko Sentral ng Pilipinas (BSP) is considering lifting the three-year moratorium on digital bank licenses, which has been in place since August 2021, according to PhilStar Global. The report quoted BSP Governor Eli Remolona Jr. saying that there are
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HitPay Partners GCash to Offer More Payment Options to Filipino Merchants
HitPay, a payment processing platform for small businesses, has partnered with Philippines’ e-wallet GCash to expand its payment options for merchants in the country. Through this partnership, HitPay merchants in the Philippines can now offer three new payment methods; GCash,
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