The Bangko Sentral ng Pilipinas (BSP) is proposing stricter standards on financial reporting and audit oversight for Operators of Payment Systems (OPS). The central bank has released a draft circular outlining these regulations and is accepting industry feedback until 12 December. The proposed rules aim to strengthen the financial reporting of entities such as banks, e-wallet providers, and payment gateways that facilitate fund transfers. Under the proposal, licensed operators must submit annual financial statements no later than 120 days after the close of their calendar or fiscal year. Furthermore, these operators must hire external auditors exclusively from a BSP-approved list.…

The Securities and Exchange Commission (SEC) Philippines and the Securities and Exchange Regulator of Cambodia (SERC) have entered into a formal agreement to collaborate on the development of their capital markets. The two regulatory bodies signed a Memorandum of Understanding (MoU) during a ceremony in Kuala Lumpur, Malaysia, on 4 November. The agreement aims to facilitate mutual assistance, information exchange, and cooperation on shared regulatory interests. Key areas of collaboration outlined in the MoU include regulatory supervision, enforcement, and technical cooperation in sustainable finance, fintech, and market digitalisation. The agreement also highlights a commitment to building institutional capacity through human…

Billease has acquired a majority stake in the Rural Bank of Sta. Maria (RBSM) in Ilocos Sur. The company aims to leverage this acquisition to expand its lending capabilities and transition into a “digital-centric” bank. The acquisition of over 90% of RBSM solidifies a strategic partnership announced earlier in November. That initial collaboration paved the way for integrating banking functions, such as digital savings accounts and fund transfers via InstaPay and PESONet, directly into the Billease app. Full implementation of these features is targeted for the third quarter of 2026. Billease CEO and Co-Founder Georg Steiger, who is also a…

Google Pay has officially launched in the Philippines, while its competitor Apple Pay is expected to arrive in 2026. Lito Villanueva, Founding Chairman of the FinTech Alliance PH, indicated that while no specific date is finalised for Apple Pay, the industry hopes for an early launch next year. Both entities have received clearance from the Bangko Sentral ng Pilipinas (BSP) to operate. The central bank ruled that these platforms function as technology service providers rather than payment operators, as they enable transactions without directly handling funds. Google Pay debuted on 18 November with nine initial partners. They are China Bank,…

Salmon has announced a new holiday campaign titled Big Treats for Real Santas, offering customers the chance to win cash prizes ranging from PHP 10,000 to PHP 100,000. Running from 17 November 2025 to 11 January 2026, the promotion is available to shoppers across the company’s partner network nationwide. To participate in the draw, customers must purchase items at any partner store using a Salmon Product Loan with a 0% down payment. Following the transaction, users must register their purchase on the official promo page to validate their entry. According to the announcement, the company will hold weekly draws where…

The Securities and Exchange Commission (SEC) is pursuing reforms to strengthen the Philippines corporate bond market and broaden access for small and medium enterprises (SMEs), in collaboration with the World Bank and the International Finance Corporation (IFC). From November 11 to 13, the SEC hosted the Workshop on Corporate Bond Market Development and Capital Market Solutions for SMEs under the World Bank Group’s Joint Capital Markets Programme (J-CAP). The event provided a platform to present preliminary findings and outline a reform agenda addressing the local debt market and SME financing. Discussions highlighted the need for new financing mechanisms, stronger market…

Rizal Commercial Banking Corporation (RCBC) has signed a Memorandum of Understanding (MOU) with regional insurtech firm Igloo to bring embedded digital insurance products directly into the bank’s mobile application. The companies signed the deal at the Philippine Pavilion during the Singapore Fintech Festival. With Malayan Insurance powering the collaboration, the partners aim to digitise insurance products within RCBC Pulz, the bank’s main digital platform. According to the announcement, this integration will position RCBC Pulz as the first Philippine bank to provide an embedded digital insurance experience within its main banking app. Lito Villanueva, RCBC Executive Vice President and Chief Innovation…

The Securities and Exchange Commission (SEC) Philippines has granted in-principle approval to Blockshoals Technologies, Inc. to test its financial products within the Commission’s regulatory sandbox. The Commission En Banc made the decision at its meeting on November 12. Blockshoals, a domestic fintech firm, operates as a technology and infrastructure intermediary for virtual asset services. To operationalise its application, the company has entered into a partnership with a global crypto exchange. The approval allows Blockshoals to enter the SEC StratBox. It is a regulatory sandbox established under SEC Memorandum Circular No. 9, Series of 2024. This framework permits firms to test…

Payment gateway startup PayRex is partnering with Buy Now, Pay Later (BNPL) platform Billease to offer flexible payment options to merchants in the Philippines. The collaboration will allow merchants using PayRex to activate Billease at checkout through a single API integration. This enables consumers to access instalment-based payments. For merchants, the goal is to help boost conversions and average order value. “Our goal has always been to make payments simple for developers and accessible for businesses of any size,” said Edwin Lacierda, Co-Founder and CEO of PayRex. “With Billease built right into our platform, we’re giving merchants the ability to…

GCash has announced a partnership with Western Union to waive transfer fees for remittances sent from Hawaii to the Philippines. The promotion, which runs until 31 December 2025, allows residents in Hawaii to send funds directly to GCash wallets without incurring transaction costs. Targeting the Overseas Filipino community in Hawaii, the company confirmed that the promo applies to transactions made via the Western Union app and at physical stores statewide. Paul Albano, General Manager for GCash International, commented on the collaboration, stating that the primary goal is to maximise the value of remittances sent to family members in the Philippines.…

Industry players from Philippine fintech GCash and Indonesian e-wallet DANA highlighted the benefits of increased ASEAN cooperation for serving micro, small, and medium enterprises (MSMEs). The discussion occurred at a panel during the World Trade Organization (WTO) Public Forum in Geneva in September. Rowena Zamora, Chief Strategy Officer of Mynt, GCash’s parent company, said ASEAN initiatives like the ASEAN Single Window have streamlined digital processing. “We have to democratize policies and processes to expand MSMEs’ access to the market… and provide practical innovations that address issues like the cost of participation and the cost of regulatory compliance,” she stated. Zamora…

Salesforce has announced its expansion into the Philippines, opening a new office in Manila and committing to local skills development. The new office will be located in Ayala Triangle Gardens, Tower 2. The company’s expansion will be led by Abraham Cuevas, Regional Vice President and Country Manager. “The Philippines is a dynamic and incredibly important market for Salesforce,” Cuevas said. “With our new office we are better positioned to empower Filipino businesses while also equipping Filipino workers with the critical AI skills needed for the future economy”. As part of the expansion, Salesforce has pledged to equip 12,000 Filipino workers…

After a long-anticipated wait, Google Pay has finally launched in the Philippines today, November 18, 2025, becoming the first major global wallet to expand locally. The service allows cardholders to store debit and credit cards in the Google Wallet on Android devices, enabling tap-to-pay transactions at merchants with near-field communication (NFC) enabled terminals. Industry sources told The STAR that GoTyme Bank is in the first wave of issuers, though banks were reportedly barred from making early disclosures, possibly due to an embargo set by Google Pay. At least nine banks and financial technology companies were part of the initial rollout.…

GCash has partnered with payments solution provider BPC to launch GCash PocketPay, a new payment acceptance solution powered by BPC’s SmartVista platform. The partnership allows any compatible NFC-enabled Android device to function as a payment acceptance point. This removes the hardware barrier for many micro, small, and medium-sized enterprises (MSMEs) and social sellers. The solution targets the more than 6 million Filipino businesses already using GCash for Business, enabling them to accept contactless Visa and Mastercard payments. According to GCash, the platform is also set to support its closed-loop QR and QRPH, which will unify card and QR payments. “We…

The Philippines has launched its first parametric insurance programme for small-scale fishers, a pilot initiative aimed at protecting livelihoods from income losses caused by bad weather. The project is a collaboration between the Bureau of Fisheries and Aquatic Resources (BFAR), the Philippine Crop Insurance Corporation (PCIC), conservation group Rare, and Willis, a WTW business. The Ocean Risk and Resilience Action Alliance (ORRAA), with funding from the Governments of Canada and the United Kingdom, supports the initiative. Under the pilot, BFAR will act as the policyholder, offering coverage to 14,200 small-scale fishers across 24 coastal municipalities. The insurance will provide payouts…

Visa has launched a new programme in the Philippines in collaboration with infrastructure provider M2P Fintech and CTBC Bank. The partnership aims to enable rural and thrift banks to issue both physical and digital Visa debit cards, addressing technical and regulatory obstacles previously faced by smaller banking institutions. Under this “issuance-in-a-box” model, Visa supplies a platform through which rural banks can more efficiently and cost-effectively roll out debit card programmes. Enrolled banks will also gain access to Visa’s risk and identity tools, including its authorisation and risk-management systems, and a dispute resolution platform. This new programme intends to support financial…

The Philippines Securities and Exchange Commission (SEC) has proposed a whistleblower protection programme to strengthen its enforcement against investment scams, predatory lending, and market abuse. On November 12, the Commission issued a draft memorandum circular for public comment. The programme is designed to safeguard individuals who report illegal acts and violations. SEC Chairperson Francis Lim stated the guidelines aim to: “Empower victims, market participants, and concerned citizens to come forward without fear, report violations of corporate and securities laws… and join us in our fight against illicit activities that harm financial consumers and erode confidence in our markets”. Under the…

Philippine Veterans Bank (PVB) has deployed an AI-powered enterprise fraud and risk management (EFRM) solution from Clari5. The bank announced the new system at the Singapore FinTech Festival after implementing it in just 45 days. The platform is part of PVB’s ongoing digital transformation and provides a “GenAI-ready” infrastructure for fraud prevention. It detects and monitors financial crime in real-time across the bank’s internet and mobile banking channels. PVB stated the system supports its compliance with Bangko Sentral ng Pilipinas (BSP) regulations. Peter Paul V. Laud, Senior Vice President at PVB, said the bank is “committed to building a secure,…

The Philippines Securities and Exchange Commission (SEC) has launched a new online educational platform as part of a wider initiative to improve financial literacy. The Commission is also coordinating with Congress to include financial literacy as a mandatory subject in the high school curriculum. The revamped “SEC Academy” was introduced at an event at the SEC Headquarters in Makati City on November 12. The platform, available for free, offers online courses on personal finance, investing, and spotting investment scams. According to the SEC, policymakers, government officials, and industry experts deliver these courses. SEC Chairperson Francis Lim stated the platform aims…

GCash has introduced a new crypto educational resource guide for beginners within its app, designed to help Filipinos navigate the cryptocurrency market. The “A Beginner’s Guide to Cryptocurrency” aims to address the knowledge gap among potential investors who remain cautious despite high awareness of digital assets. According to a 2025 survey by Consensys, 96% of Filipinos are aware of cryptocurrency, with over half expressing an intent to invest within the year. To support this interest, the finance app released the exclusive guide written and illustrated by Luis Buenaventura, the Head of GCrypto. The guide is divided into eight chapters and…