LemFi, a financial technology platform serving immigrants, has partnered with the Philippine mobile wallet GCash to facilitate international remittances. The collaboration will enable Filipinos in North America and Europe, including the UK, to send money directly to GCash wallets in the Philippines. The partnership positions LemFi as one of GCash’s official remittance partners for these regions. According to Raymund Abog, LemFi’s Head of Growth for South East Asia, the service features zero transfer fees, competitive exchange rates, no minimum transfer limits, and delivery in minutes. The integration offers an affordable method for Filipinos living abroad to send financial support to…

A new Mobile Tap to Pay feature is now available in the UnionBank Online application. Its purpose is to offer users a fast and secure way to make contactless payments. The feature allows customers to make payments using any NFC-enabled Android device linked to their UnionBank Visa Debit or Credit Card. After a one-time activation on the app, users can complete transactions by tapping their phone at any Visa contactless terminal worldwide, eliminating the need for a physical card. To secure each transaction, Visa’s tokenisation technology substitutes a unique, encrypted code for the user’s actual card details. As a result,…

The Bangko Sentral ng Pilipinas (BSP) has authorised the corporate name change of SeaBank Philippines Inc. to Maribank Philippines Inc. The approval was granted on April 21, according to a circular signed by BSP Deputy Governor Lyn Javier. Following the BSP’s authorisation, the Securities and Exchange Commission cleared the bank’s amended Articles of Incorporation and By-Laws on July 31, officially reflecting the new corporate name. Formerly known as Banco Laguna Inc., the rural bank was founded in 1965. Following a rebranding in 2020, the bank shifted its focus from traditional services to a more technology-driven approach. The goal of this…

Rizal Commercial Banking Corporation (RCBC) has announced a new service that will allow Filipinos to open a United States bank account through its RCBC Pulz mobile application. RCBC is launching the new feature in partnership with the global instant payments company, Meridian. The service will become available to the public starting in October 2025. Users will be able to open a US bank account without the requirement of a US address, Social Security Number, or US residency. In an announcement on its 65th anniversary, RCBC stated the Pulz app will display the US bank account alongside the user’s peso account.…

GCash is collaborating with ten universities in the Philippines for a series of financial literacy boot camps aimed at students. The programme, titled “The GMindset: Gear Up Your Financial Game,” aims to equip students with the knowledge to build long-term saving and investing habits. GCash has confirmed partnerships with seven institutions, including the Polytechnic University of the Philippines (PUP), Far Eastern University (FEU), Adamson University (ADU), the University of the Philippines, Ateneo de Manila University (ADMU), and Centro Escolar University, Manila (CEU). The first two bootcamps, held at PUP and FEU, attracted nearly five hundred students. The sessions include lessons…

The Development Bank of the Philippines (DBP) has launched a PHP 510-million corporate social responsibility (CSR) initiative to improve access to quality education at basic and tertiary levels. The five-year initiative is named the DBP Integrated Scholastic Programme for Inclusive and Responsive Education (DBP Inspire). According to DBP President and Chief Executive Officer Michael de Jesus, the programme seeks to supplement government efforts in the education sector through collaborative endowment and support projects. He stated, “The DBP Inspire programme reinforces the Bank’s commitment of fostering support to the education sector and is aligned with President Ferdinand Marcos Jr.’s vision to…

The Securities and Exchange Commission (SEC) has issued an advisory warning the public against investing in an entity named The Pegasus International Ventures Incorporation. The Commission stated that Pegasus, operated by Yolanda Bandiola Galecia and four other named individuals, has been enticing public investment with promises of high monetary rewards. Pegasus reportedly operates from physical offices, according to the August 8, 2025 advisory. In addition, the company conducts business online through various digital platforms. In its advisory, the SEC described the entity’s operations as resembling a binary-like marketing or recruitment-driven model. It added that such a structure is often found…

The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) have signed a memorandum of understanding (MOU) to enhance data sharing between the two government bodies. The two agencies signed the agreement at the BSP’s head office in Manila on August 29, 2025. Through this partnership, both institutions intend to aid their policymaking by securely exchanging relevant data. Access to DOLE’s labour market data will allow the BSP to more closely monitor employment conditions, which will inform monetary policies aimed at maintaining price stability. In turn, the BSP will use this data to produce research that…

Union Bank of the Philippines (UnionBank) took part in the ceremonial launch of the Open Finance for PERA (OFXPERA) Pilot. The bank was joined by the Bangko Sentral ng Pilipinas (BSP) and fellow financial partners for the milestone event. The pilot programme aims to simplify and digitise the onboarding process for the Personal Equity and Retirement Account (PERA) using an Open Finance framework. The new system allows customers to open a PERA account using various participating apps. It works by letting users authorise the secure sharing of their current KYC data from an existing bank or e-wallet account. This new…

GoTyme Bank announced on Wednesday that it will now provide its customers with a set number of free InstaPay transfers each month. The digital bank has introduced this feature to enhance its service offerings for its growing user base in the Philippines. In a statement, the company confirmed the new policy: “GoTyme Bank now offers 20 free InstaPay transfers per month to all customers.” This allocation of free transfers will reset at the beginning of each calendar month and is already available for users to utilise. This initiative provides a notable alternative to the standard transaction fees of PHP 15.00…

GCash has launched a new contactless payment solution that allows for global use of its ‘Tap to Pay’ feature. The service enables users to make payments at more than 150 million Mastercard acceptance locations worldwide using Near Field Communications (NFC) technology. This global functionality for the e-wallet is the result of a collaboration between Alipay+ and Mastercard. The feature allows users with NFC-enabled Android phones to complete a payment by tapping their device on any Mastercard-accepting point-of-sale (POS) terminal. Such capability complements GCash’s existing QR code payment system, which is available in over 50 destinations globally, significantly expanding the international…

Global insurtech company bolttech and telecommunications provider Globe have partnered to launch Flagship Forever, a new device upgrade programme for Globe customers in the Philippines. With this new offering, customers can own the latest flagship smartphones with greater affordability and flexibility. The Flagship Forever programme enables Globe customers to upgrade to the newest models of select smartphones every year by trading in their current unit. A key feature of the programme is the removal of pre-termination fees for these upgrades, allowing customers to get a new device as early as the 12th month of their existing plan without needing to…

The Bangko Sentral ng Pilipinas (BSP) has approved the extension of its moratorium on granting new licences for virtual asset service providers (VASPs) for an indefinite period. The central bank stated that the decision considers the heightened risks associated with virtual assets like cryptocurrencies. In an announcement, the BSP said the extension underscores its commitment to protecting consumers. It also highlights the central bank’s dedication to upholding the stability and integrity of the financial system. The central bank plans to strengthen its monitoring, surveillance, and enforcement capabilities. As it does so, it will periodically review the moratorium based on developments…

GCash has partnered with Western Union to expand its global cash-in feature, allowing users in over 200 countries and territories to send money directly to GCash e-wallets in the Philippines. Through this collaboration, Filipinos living and working overseas can send funds using the Western Union app, website, or its network of retail locations worldwide. Once the sender completes the transaction, the system instantly credits the funds to the recipient’s GCash account, with a transaction limit of up to PHP 500,000. The recipient can then immediately use the money for bills, online shopping, savings, or other services within the GCash ecosystem.…

UBX Philippines, the fintech arm of Union Bank of the Philippines, has appointed Dan Marogy as its new President and Chief Executive Officer (CEO), effective 1 September 2025. Marogy has over 16 years of leadership experience across capital markets, digital ecosystems, and e-commerce. Dan Marogy previously served as the CEO of Foodpanda Philippines before moving to UBX, where he oversaw the company’s growth and diversification into fintech, logistics, and grocery retail. He also has experience leading 7-Eleven’s CliQQ business. Most recently, Marogy was the Founder and Managing Partner of Brookland Advisors, where he advised on fintech integrations and equity raises…

In response to updated regulations from the Bangko Sentral ng Pilipinas (BSP), identity solutions provider HID is introducing a new line of FIDO-certified credentials designed to help organisations in the Philippines adopt passwordless authentication. Under the Anti-Financial Account Scamming Act (AFASA), the BSP now requires financial institutions to implement stronger, phishing-resistant authentication methods by 25 June 2026. This directive comes as IT security fraud and online scams in the Philippines have reportedly surged by 35% over the last two years. HID’s new offerings aim to help organisations deploy and manage passkeys at an enterprise scale. This includes a subscription-based solution…

VBank, a digital-centric banking initiative under the LCS Group of Companies, has appointed Young Paul Raneses as its new Chief Operations Officer (COO) and Chief Product Officer (CPO). The dual-role appointment is part of a strategic move to accelerate the bank’s transformation and expand its presence in emerging market segments. As both COO and CPO, Raneses will lead the bank’s product strategy, user experience design, platform innovation, and all end-to-end operations. This includes overseeing core banking processes, internal systems, service delivery, and customer support. The bank’s renewed focus will be on scalability, reliability, and customer-centric design to address the needs…

The Social Security System (SSS) and Union Bank of the Philippines (UnionBank) have announced the development of the MySSS Card, a new 2-in-1 solution that combines an SSS-issued functional ID with a UnionBank-powered Visa debit card. This initiative builds on a previous card partnership that has issued hundreds of thousands of cards since 2022. The card aims to provide SSS members with a more secure and convenient way to receive their benefits, loans, and refunds directly into an associated UnionBank savings account. Members will be able to apply for the card through the UnionBank Online app. “This partnership marks a…

Tonik Digital Bank is set to implement the Philippine Identification System (PhilSys) ID verification for its services. The integration allows new and existing customers to use their National ID for various banking processes, including account opening, self-service ID updates, account upgrades, and reopening accounts. The new system uses the recently available PhilSys API to deliver a fast and automated Know Your Customer (KYC) process. The API cross-checks data points, including biometric matches and QR code information, which eliminates the need for manual checks and verifies an ID in less than 10 seconds. Tonik’s system accepts all formats of the PhilSys ID,…

Speculation is growing around the potential launch of Google Pay in the Philippines. Mastercard is reportedly at the forefront of this potential move, with reports indicating the company is preparing partner banks and key stakeholders for the possible introduction of the new payment service. As part of these reported preparations, Mastercard is expected to conduct onboarding sessions for financial institutions. Significant promotional campaigns and a marketing push could then follow to introduce the service to Filipino consumers. The potential introduction of Google Pay could also signal the broader availability of the Google Wallet service in the country. Supporting these reports,…