Paynamics, a provider of secure digital payment solutions, has joined FinTech Alliance.Ph. This membership aligns with Paynamics’ stated goal to support digital transformation and contribute to the growth of the country’s fintech sector. Paynamics provides payment technologies used by various businesses, including e-commerce merchants and financial institutions. These solutions aim to facilitate transactions and payment processing. Mylene Chua-Magleo, CEO and Co-Founder of Paynamics, commented on the development. The Paynamics CEO said that joining FinTech Alliance.PH marks an important chapter for their organisation. Mylene said that her company looks forward to collaborating with other members. Her goals include advancing innovation and…

Philippine President Ferdinand Marcos has officially approved a new digital nomad visa program, allowing foreigners to temporary live in the country while maintaining their remote work. The initiative, formalized under Executive Order (EO) No. 86 signed on April 24, 2025, aims to enhance tourism and boost economic growth by attracting foreign independent professionals with stable overseas incomes. EO No. 86 seeks to establish a legal framework to facilitate the entry of eligible digital nomads into the Philippines, and authorizes the Department of Foreign Affairs (DFA), through the Philippine embassies and consulates, to issue visas to these foreign nationals. Eligibility and…

Maya has rolled out the Maya Black Credit Card, designed for mobile-first consumers. The card is powered by Maya’s data and AI-driven credit models and is available through the Maya app. The Maya Black card aims to expand access to credit for more individuals, including those without traditional credit histories. It does this by leveraging transactional data and other alternative data sources for credit scoring. Applicants without a credit history also have the option of a secured card pathway integrated into the app. Within the Maya app, users can digitally manage the entire process, from application to issuance and support.…

Data from TransUnion’s global intelligence network indicates that the suspected digital fraud rate in the Philippines stood at 13.4% in 2024. This figure is considerably higher than the global rate of 5.4%, exceeding it by 148%. The Philippines has consistently registered a suspected digital fraud rate higher than the global average for five consecutive years. The rate in the Philippines also saw a 5% increase from 2023 to 2024. It shows a stark contrast to the 8% decrease observed worldwide. A significant proportion of Filipinos reported being targeted by fraud. A survey conducted across 18 countries and regions between November…

Philippine digital bank GoTyme has successfully secured USD $10.4 million in fresh capital infusion from its parent companies, JG Summit Holdings and Tyme Investments. GoTyme’s parent companies are earmarking this significant funding injection to accelerate the bank’s lending operations. It will also help propel its broader expansion plans within the Philippine digital banking landscape. Regulatory filings in Singapore confirmed the capital infusion. USD $4.6 million came from JG Summit Holdings, with an additional USD $5.8 million provided by Tyme Investments, a subsidiary of Singapore-based Tyme Group. GoTyme CEO Albert Tinio confirmed the capital raise. He also stated that a planned…

LenderLink, a fintech company with bases in Singapore and Manila, has announced the successful closure of a seed funding round, raising USD $1.25 million. Investors, including Iterative and Kaya Founders, alongside other investors such as Founders Launchpad and Manila Business Angels, participated in the investment round. Established in 2024, LenderLink is also said to be developing a credit bureau in the Philippines through the seed funding. The company’s objective is to help lenders lower their non-performing loans (NPLs). LenderLink aims to update consumer lending practices through its API-first platform. This platform allows lenders to report and access consumer credit risk…

Effective 24 April 2025, SeaBank Philippines, Inc. (A Rural Bank) has officially become part of the banking group under MariBank Singapore Private Limited (“MariBank”). This development follows MariBank’s acquisition of SeaBank Philippines. MariBank is a digital bank based in Singapore. The bank is fully owned by Sea Limited and operates under a licence from the Monetary Authority of Singapore (MAS). Both SeaBank Philippines and MariBank belong to the broader Sea Limited Group. MariBank functions as a Singapore-headquartered banking group, responsible for overseeing regional strategy, fostering innovation, and ensuring strong governance across its entities. The integration and acquisition of SeaBank Philippines…

Globe Chief Financial Officer Juan Carlo C. Puno announced that the initial public offering (IPO) of Philippine fintech company GCash will proceed despite current market volatility. Juan announced during Globe’s annual stockholders’ meeting that the uncertainties will not deter the company from moving forward with its plans for the IPO. These uncertainties include those stemming from new US tariffs under President Donald Trump. “The goal is to get GCash to a point where we are push-button ready. So, when the market opens up, if we find the window where the valuations and interests we’re getting are appropriate and acceptable, we…

The Bangko Sentral ng Pilipinas (BSP) introduced “BSP Mobile” on April 14, 2025, a new mobile phone application designed to improve access to BSP and other financial information and services for Filipinos and investors. During the launch ceremony at the BSP head office in Manila, BSP Deputy Governor Bernadette Romulo-Puyat highlighted the app’s role in strengthening the BSP’s connection with the public. “The BSP Mobile App is our way of staying connected with the public. It allows users to check key rates and public announcements, locate coin deposit machines or BSP offices, file complaints through our chatbot BOB, and stay…

Skyro has secured a PHP 370 million credit facility from Sterling Bank of Asia. This funding aims to enhance Skyro’s operations and expand access to its financial solutions for Filipinos. The partnership was made official through a credit agreement signing. Nasim Aliev expressed gratitude for Sterling Bank’s confidence in Skyro’s mission, stating that the partnership will strengthen their ability to provide accessible financing, bringing financial empowerment to underserved Filipinos. Jose S. Ison, Jr. of Sterling Bank highlighted the shared vision and noted that Skyro offers customer-friendly loan products, expressing happiness to support their goal of helping Filipinos achieve financial aspirations.…

Maya announced it achieved net income profitability in the first quarter of 2025, building on the strong financial momentum established in December 2024. The company also saw accelerated topline growth in Q1 2025. It is due to revenue growth exceeding 100% in the full year 2024 compared to 2023. Since launching its digital bank in 2022, Maya’s net revenues have increased over fivefold, culminating in achieving profitability in December 2024. This milestone reflects consistent growth across digital banking, payments, and lending. The robust performance in profitability growth for Maya in Q1 2025 was primarily driven by significant lending activity and…

Is the Philippines approaching a tipping point in financial crime? A report released by regtech firm Tookitaki and the AFC Ecosystem, in partnership with ABCOMP Philippines, unveiled the deepening complexities of the country’s financial crime landscape. The 2024 Annual Philippines Financial Crime Landscape Report examined the significant rise in sophisticated threats that exploited gaps in systems, regulations, and public awareness. Despite the implementation of strengthened measures such as the Anti-Financial Account Scamming Act (AFASA) and increased regulatory oversight of digital platforms and money service businesses, criminals continued to evolve at a rapid pace—finding new ways to exploit loopholes and bypass…

Pru Life UK is actively seeking partnerships with banks and fintech companies in the Philippines to broaden its reach and extend social protection to more Filipinos. Prudential plc CEO Anil Wadhwani emphasised the company’s interest in bancassurance and collaborations with non-traditional players like e-wallets to access underserved markets beyond its established agency model. While Pru Life UK boasts a substantial agency force, it currently lacks bank partnerships, unlike several competitors who have leveraged bancassurance agreements. “That is something that we are pursuing in the Philippines. I would love to have something with banks. I’m also ready to kind of explore…

J.P. Morgan is set to introduce its invoice reconciliation service powered by AI in the Philippines this May, underscoring the country’s pivotal role in its Asia Pacific payments innovation strategy. This launch is part of a wider regional rollout across ASEAN, Hong Kong, Australia, and New Zealand. Max Neukirchen, Global Co-Head of Payments at J.P. Morgan, highlighted the Philippines’ rapid digital adoption and thriving fintech sector as key reasons for prioritising the market “This award-winning solution has already made a splash in India by improving cash conversion cycles by 50% and unlocking USD $1.1 million in working capital for this…

Philippine Airlines (PAL) has taken a significant step in enhancing its digital offerings with the launch of its first-ever e-Wallet. This new digital platform provides passengers with a convenient way to manage their various PAL electronic cards in one centralised account. The e-Wallet supports the consolidation of several types of PAL e-Cards. These include the PAL e-Gift Card, the Dear PAL Miles e-Card, Travel Credits, and even Compensation e-Cards or vouchers. This move will simplify how travellers keep track of their digital assets with the airline. Beyond just storage, the PAL e-Wallet also functions as a versatile alternative payment method.…

The Bangko Sentral ng Pilipinas (BSP) and the International Finance Corporation (IFC) have joined forces in a two-year initiative to develop the moveable asset finance (MAF) market in the Philippines. This partnership aims to increase credit access for micro, small, and medium-sized enterprises (MSMEs) and the agricultural sector by promoting the use of assets like equipment and inventory as loan collateral. This move addresses the challenge faced by businesses lacking traditional real estate collateral and seeks to broaden financial inclusion, particularly in underserved rural areas. BSP Governor Eli Remolona Jr. highlighted the significance of this collaboration. This move addresses the…

Libera Global AI and Kaya Credit have announced a strategic partnership to introduce AI-powered retail trade analytics to the Philippines. The collaboration will provide advanced analytical tools to the Philippine retail market, where micro, small, and medium-sized enterprises (MSMEs), known locally as ‘sari-sari stores’, account for a significant portion of retail activity. This market sees over USD $70 billion in FMCG and CPG products sold through these stores. The partnership aims to provide both brands and MSME retailers with data-driven insights to improve business decision-making. It can also help them to optimise stock availability, potentially increasing sales and efficiency. The…

The Securities and Exchange Commission (SEC) of the Philippines has announced the opening of applications for its SEC Strategic Sandbox (StratBox), focussing on Crypto-Asset Service Providers (CASPs). The aim of this initiative is to foster responsible innovation in the financial services sector, especially in the emerging field of Crypto-Asset Services. This is detailed in SEC Memorandum Circular No. 09-2024. The StratBox program provides a controlled environment. Within this environment, CASPs can test and pilot their products, services, and business models. By doing so, the SEC Philippines through its sandbox seeks to gather critical insights and data on the risks and…

The Securities and Exchange Commission (SEC) of the Philippines and the BDO Foundation have collaborated to enhance investor protection and financial literacy by introducing public education materials focused on avoiding financial investment scams. The SEC and BDO Foundation launched two investor protection videos on April 4th at the SEC Headquarters in Makati City. These videos aim to inform the public about the warning signs of potential investment scams. The organisations intend that this knowledge will help individuals protect themselves from fraudulent schemes. The SEC and BDO Foundation plan to distribute the materials through programs, training sessions, and seminars. The Commission…

The Bank of the Philippine Islands (BPI) is set to expand its network by opening an additional 70 locations this year. These new branches are “phygital,” blending physical and digital banking services. This move is part of the bank’s ongoing efforts to modernise its branch network. By the end of 2025, BPI anticipates having a total of 140 phygital branches. As of Monday’s statement, the bank already operates 59 phygital branches across the country. In addition to these, they also have nine prime phygital locations and three flagship branches. Maria Cristina “Ginbee” L. Go, BPI’s Head of Consumer Banking, stated…