Posts From Fintech News Philippines
BSP Fully Rolls Out Person-To-Merchant QR Code System
The Bangko Sentral ng Pilipinas (BSP) has fully rolled out the QR Ph Person-to-Merchant (P2M) payment facility with the Philippine Payments Management, Inc. (PPMI). QR Ph P2M simplifies digital payments made by customers to merchants, allows customers to transact with a
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Philippines’ Cantilan Bank Partners AFIN to Roll Out Mobile App for the Unbanked
Philippines rural bank Cantilan Bank (CANBNK) partnered the ASEAN Financial Innovation Network (AFIN) to launch its new mobile banking application “iCAN”. AFIN is a not-for-profit entity known for its open banking platform APIX and was established in 2018 by the
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How Is the Philippines Gearing Up to Be a Digital-Heavy and Cash-Light Society?
The Governor of Bangko Sentral ng Pilipinas (BSP), Benjamin E. Diokno has a vision of transforming the Philippines into a digital-heavy and cash-light society to help achieve inclusive growth. The vision, which he shared during an online forum of the
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70% of Filipino Banks Find it Difficult to Keep up With Customer Expectations
Changing consumer expectations and a fast-evolving banking landscape are posing challenges for incumbents to keep up. Despite the realization that digital banking is the way forward, many Filipino banks are struggling to develop and implement innovative solutions, citing outdated legacy
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Veteran Banker Angelo Madrid to Head PayMaya’s Digital Bank as President
Philippines digital and financial services firm Voyager Innovations has appointed seasoned banker Angelo Madrid as President of Maya Bank, its digital banking arm that will be operated by its fintech spin-off PayMaya. The appointment comes on the heels of the
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Dragonpay Taps TripleA to Offer Crypto Payments to Filipino Merchants
Philippines’ payments firm Dragonpay announced that it has partnered with TripleA to roll out crypto payments to thousands of merchants in the country. With the low penetration of credit cards and banking services in the Philippines, Dragonpay aims to bridge
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BSP Deepens Industry Partnership to Roll Out Payments Digitalisation Initiatives
The Bangko Sentral ng Pilipinas (BSP) and the payment systems industry are set to rollout an array of initiatives that are expected to further advance payments digitalization and financial inclusion in the country. “The BSP will continue to work with
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Global Report Reveals Filipino Banks Face Extinction Unless They Embrace Digitisation
Three in five banks believe they will cease to exist within five to ten years unless they change their business models, according to a new global research report “Evolve or be extinct” from the Financial Times Focus (FT Focus) and
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Fintech Alliance.PH Condemns Irresponsible Data Harvesting by Online Lenders
The Fintech Alliance.PH, the National Privacy Commission (NPC) and various industry players have joined forces in condemning the insidious practice of illegal and irresponsible data harvesting of some online lending applications. Several online lending platforms have been found to be
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How Will Branch Banking Evolve in the Digital Age?
With digital adoption spiking up in recent years coupled with Bangko Sentral Ng Pilipinas’ recent introduction of the digital banking framework, industry pundits have been examining the relevance of branch banking and whether it will survive the digital age. A
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