The Securities and Exchange Commission (SEC) has issued a cease and desist order (CDO) against Fuse Lending. The order cites the company’s unlicensed lending operations and its malicious use of a legitimate company’s former name as the primary violations. On July 22, 2025, GCash’s official lending arm, Fuse Financing Inc., filed a complaint against a fraudulent entity operating as ‘Fuse Lending’. Following this complaint, the SEC ordered the fraudulent entity to cease its operations. An investigation found that the fraudulent group illegally used the former corporate name of Fuse Financing Inc. The legitimate company, Fuse Financing Inc., had officially updated…

The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and alternative lending solutions. With over a billion users projected to access digital financial services by 2026, the region is ripe with opportunity — and equally vulnerable to escalating fraud threats. The region faces a wave of sophisticated attacks: payment fraud losses are forecast to surpass US$362 billion between 2023-2028, and identity fraud is rising sharply, exacerbated by data breaches and advanced AI-driven tactics. As digital finance accelerates, fraudsters are evolving faster than ever, pushing fintechs and payment providers to rethink their approach to…

The Bangko Sentral ng Pilipinas (BSP) is finalising new regulations designed to protect financial consumers from the risks linked to online gambling. Following a period of public consultation, the upcoming rules will mandate that banks, e-wallets, and other financial service providers adopt a range of stronger safeguards. The initiative is part of the central bank’s commitment to fostering a safe and secure digital finance ecosystem for all Filipinos. A key component of the new measures is the implementation of stricter identity verification processes. The new regulations will require financial institutions to use methods like biometric checks and facial recognition to…

Rizal Commercial Banking Corporation (RCBC) and the Bangko Sentral ng Pilipinas (BSP) have launched a strategic partnership to expand the adoption of the Personal Equity and Retirement Account (PERA) using the Open Finance framework. The BSP selected RCBC as one of a few banks for a pilot programme that aims to make retirement savings more accessible. The government established the PERA voluntary retirement savings programme under Republic Act No. 9505 to offer tax incentives. The Open Finance framework will be used to digitalise the PERA product, enabling individuals to initiate payments to their accounts directly from their digital banking apps.…

Cryptocurrency exchange Coins.ph is holding a series of in-person events across Metro Manila and nearby provinces from August 2 to 16, 2025. Coins.ph is holding these activations in malls and public venues to drive crypto adoption and make crypto more accessible for new users through hands-on support. At the events, staff will assist attendees with creating a Coins.ph account, buying and selling cryptocurrencies, and cashing out funds to local banks or e-wallets. Participants who sign up and verify their accounts on-site will receive exclusive rewards. The first set of events will take place at Farmers Plaza, The Marketplace Shopping Mall…

The Philippine Securities and Exchange Commission (SEC) has issued an advisory warning the public against using unregistered online platforms that offer crypto-asset services to residents. The warning follows a previous enforcement action that led to the geo-blocking of Binance’s website and identifies other platforms the SEC says are operating without the required local registration or authorisation. The SEC listed several exchanges, including OKX, Bybit, Kucoin, and Kraken, stating they are accessible in the Philippines and actively marketing to Filipinos without a license. The commission noted this list is not exhaustive. It warned that using such platforms exposes investors to significant…

Digital lender GoTyme Bank has reached 7 million users and has disbursed over PHP 5 billion in loans as of the end of July, putting it on track to meet its target of nine million customers by the end of 2025. The bank also reported holding PHP 32 billion in customer deposits. GoTyme is expanding its services, recently launching a buy-now-pay-later product and a partnership with TikTok to provide data-driven loans to online sellers. The bank also plans to roll out a local stock investing feature this quarter, with cryptocurrency trading and new self-service cash deposit and withdrawal machines to…

The Securities and Exchange Commission (SEC) has issued a cease and desist order (CDO) against Sana Credit, directing it to stop all lending activities conducted through its unrecorded online lending platform (OLP). In an order dated July 28, the SEC instructed the company, its owners, and operators to immediately cease facilitating any lending without the required registration and approval from the Commission. Sana Credit’s operation of an unregistered OLP violates two key regulations. The first is SEC Memorandum Circular (MC) No. 19, which mandates that lending companies must disclose all OLPs they operate. The second is MC No. 10, which…

Visa has partnered with Rizal Commercial Banking Corporation (RCBC) to launch its Visa Direct platform in the Philippines. The service enables real-time outbound cross-border payments and money transfers from the Philippines to eligible cards, bank accounts, and wallets in over 190 countries and territories. Visa Direct is a real-time push payment platform that facilitates international fund transfers. The launch comes as the global cross-border payments market continues to grow. The World Bank estimates that it has reached USD $905 billion in 2024. The service targets a strong local demand for digital options. A recent survey by Visa showed that roughly…

The Bangko Sentral ng Pilipinas (BSP) has clarified that mobile payment providers Apple Pay and Google Pay can launch in the Philippines without needing to register as Operators of Payment Systems (OPS). The decision follows discussions where the BSP determined the firms do not plan to hold funds directly for Filipino users. Holding funds is a key criterion for being classified as an Operator of Payment Systems (OPS). According to BSP Deputy Governor Mamerto Tangonan, the two companies will function solely as technology service providers for their planned local operations. Users can link their existing debit cards, credit cards, or…

Tendo, the financial wellness unit of digital bank Tonik, has made its financial services available to the employees of business process outsourcing (BPO) company Concentrix in the Philippines. The partnership gives over 100,000 Concentrix team members access to Tendo’s services, which include automated savings, salary advances, buy-now-pay-later schemes, bill payments, and insurance products. Hazel Banas, VP for People Solutions at Concentrix Philippines, stated that Tendo’s services support the BPO’s efforts to enable its workers to manage their financial needs in a secure and responsible way. Tendo anticipates that its collaboration with the large workforce of Concentrix will drive its own…

2024 marked a milestone year for the Philippines’ venture capital (VC) landscape. Filipino companies raised a record-breaking US$1.12 billion, reflecting the continued maturation of the country’s startup ecosystem, according to a 2025 report by Boston Consulting Group (BCG) and Foxmont Capital Partners. In the Philippines, fintech remained the most active sector, attracting the largest share of deal activity in 2024. Using data from Tech in Asia and Dealroom, in addition to consumer disclosures, we’ve compiled a list of the most active investors in the Philippines’ fintech sector in the last 12 months, based on the number of deals completed. These…

GoTyme Bank has partnered with TikTok to launch TikTok Shop Loans, a financing programme designed for micro, small, and medium enterprises (MSMEs) in the Philippines. The initiative aims to provide prequalified sellers on the social commerce platform with fast and flexible access to working capital to help them scale their businesses. The programme uses a data-driven approach, assessing a seller’s transaction history on TikTok Shop rather than relying on traditional credit checks to determine eligibility. Based on their sales performance, prequalified sellers receive customised loan offers, with funds disbursed within one business day. Loan terms range from three to 12…

The Rural Bank of Sta. Rosa (Laguna), Inc., a subsidiary of financial technology company Salmon Group Ltd., has reported a net profit of PHP 151.1 million for the first half of the year. This figure is up significantly from the PHP 82.5 million recorded in the same period a year ago. The bank also saw its consumer lending portfolio grow by 33.8% to PHP 1.2 billion. Its deposits also increase by 66.7% to PHP 952 million from their end-2024 levels. According to Raffy Montemayor, Salmon Co-Founder and the bank’s Chairman, the results stem from profitable loans and an efficient, low-cost…

GCash has partnered with the Ministry of Human Settlements and Development (MHSD) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to introduce digital payments in the region. The joint initiative aims to enable cashless payment collection for the ministry’s housing and settlement services. It is also hoped to be able to create a reliable channel for disbursing financial aid. The MHSD is pursuing digitalisation to move away from manual, cash-based processes, aiming to make transactions more efficient and accessible, particularly for residents in remote areas. The ministry will also use GCash’s Financial Disbursement Service to send shelter assistance to…

Boost is deeply rooted in Malaysia’s fintech story as the company that pioneered e-wallets and laid the foundations for Malaysia’s cashless culture. Nearly a decade later, the company has evolved to offer a full suite of fintech services from payments, lending, to a full fledged digital bank. Sheyantha Abeykoon, Group CEO, Boost has his eyes set on taking the Malaysian story regional. Will Boost be a household name in Southeast Asia? Will it finally turn profit this year? Check out our full interview to learn more

CIMB Bank Philippines has been ranked 41st in The Asian Banker’s World’s Top 100 Digital Banks 2025, making it the highest-ranked digital bank from the Philippines on the list. The Asian Banker, a provider of strategic intelligence in the financial services industry, evaluated over 160 banks from 42 markets using a scorecard that assessed capabilities across five dimensions. These verticals are mainly customers, market/product coverage, profitability, asset and deposit growth, and funding. The evaluation considered profitability, operational efficiencies, funding security, and the strength of loan books and balance sheets. CIMB Bank Philippines experienced a notable year in 2024, with its…

GCash, in partnership with the Department of Transportation, has launched a cashless automated fare collection system for the MRT-3 railway line. The system allows commuters to pay for their trips using their GCash wallet. It gives commuters access to a dedicated fast lane at stations. Commuters can choose from three new ways to pay for their rides. The ‘Tap to Pay’ feature allows users with NFC-enabled Android phones to tap their device on the turnstile after a one-time activation in the app. Alternatively, the ‘Commute QR’ option lets any user generate a QR code in the GCash app. Users can…

The Securities and Exchange Commission (SEC) has penalised two online lending companies for separate violations related to misleading loan agreements and unfair debt collection practices. The first company is LHL Online Lending Inc., which operates Pautang Online and Pautang Peso. Secondly, there is Link Credit Lending Investors Inc., which runs iPeso and Pesoin. The SEC directed LHL Online Lending to pay a fine of PHP 129,000 for violating the Truth in Lending Act. An investigation by the SEC’s Financing and Lending Companies Department (FinLend) found that the company’s disclosure statements indicated loan terms of up to 210 days. However, the…

A recent study of Filipino online gamblers indicates a preference for stronger regulation of the sector rather than an outright prohibition. The study was conducted by the sociocultural research firm, The Fourth Wall. They surveyed over 1,000 players in urbanised areas across the Philippines. The research aimed to analyse the behaviours, motivations, and perceptions of these players in relation to the country’s growing online gambling landscape. This might have come after recent news circulating about the worry of how online gambling is booming, and is easily accessible through financial apps such as GCash and Maya. The key finding reveals that…