The Bangko Sentral ng Pilipinas (BSP) is unsure whether it can issue new digital banking licenses before the end of the year, a senior official told BusinessWorld. BSP Deputy Governor Lyn I. Javier heads the central bank’s Financial Supervision Sector. She said the release of a new digital bank list depends on how quickly applicants complete a multi-stage vetting and registration process that is largely out of the BSP’s hands. Asked whether new licenses could still arrive within the year, Javier said, “In due time… I cannot say so.” She explained that even after the BSP approves an application, successful…

Atome Philippines has closed a PHP 5 billion wholesale facility with Asia United Bank (AUB), adding a local-currency funding line to support its next phase of growth in the country. The facility will primarily back the continued expansion of the Atome PayLater Anywhere Card, now issued to more than 3 million Filipinos. Specifically, up to 80% of cardholders are using credit for the first time, and 65% are women, with most using the card for everyday essentials such as groceries, food, household items, and telco and utility bills. Adoption has spread well beyond Metro Manila to customers across Luzon, Visayas,…

du Pay, the digital financial services arm of UAE telecom operator du, has launched instant wallet-to-wallet transfers to GCash accounts in the Philippines. The offering specifically targets Overseas Filipino Workers (OFWs) in the UAE who are sending money home. Customers can easily register for the service using their mobile number and Emirates ID. They can then send funds to any GCash wallet around the clock with no delays. Transfers run on a regulated platform, with du Pay offering competitive foreign exchange rates and low fees. The Central Bank of the UAE fully licenses the payment provider. For a limited campaign…

GoTyme Bank and the Philippine Statistics Authority (PSA) have signed a subscription contract to integrate National ID Authentication Services (NIDAS) directly into the GoTyme Bank app. The deal, signed today at Bridgetown in Quezon City, lets GoTyme verify a new customer’s identity in real time against the National ID registry during account opening. The integration means GoTyme can confirm a customer’s identity directly against PSA’s registry rather than relying solely on manually submitted documents. Both organisations framed the move as a step toward faster, more secure onboarding; GoTyme said in its own announcement that the tie-up makes opening an account…

Xendit has brought Dragonpay, one of the pioneers in alternative payments in the Philippines, into its platform, five years after first investing in the company. Dragonpay’s 905 merchants and 44 banking and e-wallet partners will now gain access to Xendit’s platform. It unlocks more than 100 payment methods, payouts, financing, and cross-border transfers. Founded in 2010, Dragonpay let banked and unbanked Filipinos transact online through online banking, e-wallets and over-the-counter channels at banks, convenience stores and remittance outlets nationwide. Xendit first invested in the company in August 2021. Fintech News Singapore noted this deal at the time as a key…

Maybank Philippines and OmniPay have formed a strategic partnership to launch QRPay, a QRPh-enabled collections solution for businesses. The tool lets merchants accept payments from any participating bank or e-wallet through a single QR code. It folds into Maybank’s existing Cash Management Services Collection Suite. QRPay operates on the OmniPay infrastructure to streamline merchant collections and consolidate multiple checkout QR codes into a single display. Felino James Marcelo, President and Chief Executive Officer of Maybank Philippines, stated the platform helps businesses process cashless transactions efficiently and reach a wider digital consumer base. “Through our partnership with OmniPay, we are launching…

The Philippines government is working with Malaysia’s Zetrix AI to build public blockchain infrastructure for digital credentials and other national applications. The project follows a memorandum of understanding between the Philippines’ Department of Information and Communications Technology, Zetrix Philippines and My Blockchain Infrastructure. My Blockchain Infrastructure is a joint venture between Zetrix AI and Malaysia’s national research and development agency, MIMOS. The parties will use the Zetrix protocol to implement and operate the Philippines’ public blockchain infrastructure. The platform will support government-issued digital credentials and other national applications, with early work also covering trade facilitation. Zetrix already serves as the…

BDO Unibank has ruled out AI-driven job cuts, its CEO Nestor Tan told The Banker. Tan said the Philippines’ largest bank expects hiring to slow as AI adoption deepens, even as global peers including HSBC and Standard Chartered weigh cutting thousands of roles over the coming years. According to Tan, the bank’s AI rollout is affecting recruitment more than existing headcount, with hiring pace easing rather than staff numbers falling. He said cutting jobs was not part of BDO’s plans, even as the bank has had to widen its search for AI talent beyond Asia, approaching candidates in the US…

Philippine digital neobank Tonik recently announced a new strategic partnership with AI Rudder, aiming to support the customer engagement strategy of the bank by integrating AI into its everyday automated voice agents. This digital integration is expected to improve overall operational efficiency across the banking platform. The technology allows the digital bank to deliver faster and more personalised service at scale. Tonik Chief Operating Officer Tomasz Borowski recently met with AI Rudder Chief Operating Officer Kevin Wu. The executives met at the technology firm’s headquarters to officially commence the new digital collaboration. Both companies remain committed to driving innovation and…

GCash recently partnered with Antom to expand its digital acceptance tools for local enterprise payments. The strategic collaboration aims to help Filipino micro, small and medium enterprises access flexible checkout solutions. Merchants can now process card transactions alongside online checkouts and in-store capabilities within a unified ecosystem. This initiative builds upon an existing relationship between Ant International and the Philippine financial platform established in 2017. The collaboration integrates the vast merchant acquisition network of both companies alongside Antom subsidiary 2C2P. This integration delivers a seamless acceptance experience for businesses operating across the Philippines and abroad. E-wallet transactions previously accelerated technological…

GoTyme recently secured $13.9 million through a fresh capital injection, according to DealStreet Asia. Parent companies JG Summit Holdings and Tyme Investments provided the additional funding, according to regulatory filings. The digital financial institution issued over 166.4 million preference shares to secure the funds. Tyme Investments contributed approximately $7.8 million while JG Summit provided $6.2 million. This latest financial boost brings the total paid-up capital of the digital bank to $113.8 million. The current funding follows a previous $10.4 million investment completed in April last year. During that preceding round, JG Summit contributed US$4.6 million, and Tyme Investments provided $5.8…

Malayan Insurance has partnered with Atome to offer travel insurance directly through the Atome app in the Philippines. The integration is powered by regional insurtech Qoala, enabling users to purchase coverage without paperwork or branch visits. The partnership introduces travel insurance plans starting at ₱89 for travellers aged 18 to 80. Customers can select from four tiers: Essential, Plus, Premium, and Elite. These policies cover both domestic and international trips, including travel to Asian and Schengen countries. The available plans include personal accident protection, emergency medical expenses, trip cancellation, and travel inconvenience benefits. All tiers also feature car rental protection,…

Fraud and AML in Asia have shifted over the past year. Alongside the system-level attacks that continue, panellists point to a growing move towards human compromise, scams that target the customer’s judgement rather than the bank’s defences. This LexisNexis Risk Ready 2026 panel, hosted by Vincent Fong of Fintech News Network, works through that shift from four angles, security, compliance, customer experience and payments, and asks what financial institutions should actually do about it. The conversation moves from how scams have become more personalised and harder to detect, to the awkward questions underneath them: who should be liable when a…

RCBC is offering free InstaPay transfers across its digital banking platforms starting July 4, 2026. The fee waiver applies to P2P fund transfers on the RCBC Pulz and RCBC DiskarTech apps. This aligns with the Bangko Sentral ng Pilipinas (BSP) regulatory direction to expand digital payments. On the RCBC Pulz app, users can make up to 30 free InstaPay transfers per month for transactions of at least PHP 100. A standard fee of PHP 10 applies once the monthly limit is reached or for transfers below the minimum amount. Transfers made through the RCBC DiskarTech app will remain completely free…

Tala recently launched a transparent digital lending and credit growth tracker called Grow with Tala directly within its mobile application. This interactive tool aims to eliminate financial anxiety and encourage responsible borrowing habits among local consumers. Users can access the tracker through a dedicated growth tree icon located on the main screen of the application. The dedicated section monitors account age alongside limit summaries and upcoming analysis dates. Customers can view their guaranteed limit increases before their current payment cycles even conclude. Borrowers simply need to repay their active balances on time to receive the new credit limits. The feature…

Fraud is no longer just a back-office concern, but a frontline business challenge As digital experiences accelerate and customer expectations rise, organisations are under increasing pressure to deliver fast, seamless onboarding while simultaneously protecting against sophisticated fraud attacks. The reality is clear: fraudsters are evolving faster than ever. From AI-driven identity manipulation to increasingly complex attack patterns across the customer lifecycle, today’s threat landscape demands a more strategic and adaptive approach to identity verification. The latest Identity Fraud Report provides a comprehensive look at how these trends are shaping the future of digital trust and what organisations must do to…

The Bangko Sentral ng Pilipinas (BSP) has highlighted key applications for a wholesale digital currency (wCBDC) in the Philippines. The central bank identified large-value cross-border payments and financial securities settlement as primary use cases for the CBDC. These findings form the core of the newly published Project Agila report. The regulatory publication aims to help local financial institutions explore viable applications for digital forms of money. A wholesale iteration of the digital currency caters specifically to commercial banks rather than retail consumers. The system operates similarly to the existing Real Time Gross Settlement framework, where banks maintain direct accounts. Institutions…

South Asialink Finance Corporation (SAFC) has officially announced a new executive leadership transition as the company appointed Maricel Dejongoy to serve as its incoming President and CEO effective July 1. Dejongoy brings extensive institutional expertise gathered from her tenure across the wider Asialink Group of Companies. She previously worked as the Auto and Truck Loan Group Head at Asialink Finance Corporation. In her prior role, she managed critical lending verticals and supported broad business expansion initiatives. The incoming chief executive stated her dedication to building upon the strong operational momentum established by previous management. She plans to use this foundation…

HitPay has officially rolled out its latest transaction service for local merchants operating in the Philippines, a gateway that enables local businesses to accept funds seamlessly from over one billion global users of WeChat Pay. Merchants can now cater to the growing influx of international tourists by offering them a highly familiar digital wallet option during checkout. The payment system automatically processes these foreign currency transactions and settles the final funds directly in Philippine pesos. Sellers can capture these cross-border payments through multiple digital channels, including online checkout portals and custom payment links. Physical storefronts can also utilise the platform…

The Securities and Exchange Commission (SEC) has formed a strategic alliance with Mynt and Fuse Financing to elevate local financial literacy. The regulatory body signed a memorandum of understanding with the digital financial firms on June 29 at the W Global Center in Taguig. This collaborative SEC initiative aims to promote responsible credit practices alongside Mynt while strengthening overall consumer protection. The partnership will focus on shielding digital wallet users from unlawful online activities and predatory lending schemes. The organisations plan to jointly develop multimedia educational materials that carry official regulatory approval. These public awareness campaigns will roll out across…