Posts From Fintech News Philippines
GCash Will Soon Charge PHP 5 Fee for BPI, UnionBank Cash-Ins
Philippines e-wallet GCash will start charging a PHP5 convenience fee for every cash-in transaction from Bank of the Philippine Islands (BPI) and UnionBank starting in the fourth quarter of 2023, according to a report by Philstar Global. GCash’s President and
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Salmon Expands Physical and Online Loan Repayment Options
Philippines’ consumer fintech Salmon has made it easier for its customers to repay their loans. Salmon launched repayment channels with five institutions, including MLhuillier and SM Bills Payment Centers (SM Stores), that will provide new loan repayment locations. The fintech
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5 Startup Accelerators and Incubators in the Philippines to Know
The fintech industry in the Philippines has witnessed significant growth and development in recent years, driven by a combination of factors including increasing smartphone penetration, a young and digitally-savvy population as well as supportive regulatory changes designed to promote digital
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Salmon’s Super–Charged Journey in AI-Enabled Consumer Lending
Manila-based fintech Salmon has grown rapidly in its first year of operations. From launching its first point-of-sale lending product four months after inception, rolling out its proprietary app, and securing partnerships with leading retailers across the Philippines – the fintech
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Top 13 Upcoming Online and In-Person Fintech Events in the Philippines
In Southeast Asia, the Philippines is emerging as a hub for fintech innovation, fueled by growing consumer adoption of digital financial services and increased deployment of innovative technologies by banking incumbents. As the country’s fintech landscape rapidly evolves, a series
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Huawei Cloud Finance Summit Philippines 2023 to Explore the Future of Finance
The Huawei Cloud Finance Summit Philippines 2023 is set to bridge the gap between traditional banks, fintech companies, and software partners to foster meaningful connections and drive collaboration this 31 August at Shangri-La The Fort, Manila. At this summit, participants
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GCash to Waive QRPh Transaction Fees for Micro-Merchants Until End of 2023
Philippines’ mobile wallet GCash will be waiving the QRPh transaction fees or merchant discount rates (MDRs) for micro-merchants using the scan-to-pay service until the end of 2023 according to a report by the Manila Bulletin. GCash’s scan-to-pay service enables merchants
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BSP Retains Cap on Credit Card Transactions at 3% per Month
The Bangko Sentral ng Pilipinas (BSP) will be retaining the cap on credit card transactions at 3% per month or 36% per year. The maximum add-on rate on installment loans will also stay at 1% per month. Meanwhile, the maximum
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Cebuana Lhuillier to Expand User Base to 11 Million in 5 Years with Temenos
Philippines rural bank Cebuana Lhuillier will be modernising its core banking platform through a partnership with banking software company Temenos. Cebuana Lhuillier Bank provides credit and savings accounts to individuals, micro, small and medium enterprises to grow their personal or
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BSP Joins UN-Backed Principles for Responsible Investment
The Bangko Sentral ng Pilipinas (BSP) announced that it has joined the United Nations-supported Principles for Responsible Investment (PRI). Developed in 2015, the PRI is a global network of public and private institutions committed to incorporating environmental, social, and governance
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