Posts From Fintech News Philippines
Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay
Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers. Tonik said in a statement that it is the first licensed digital bank in the country to fully implement InstaPay
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Rise of Super-Apps Puts Pressure on Incumbents
In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy and become a part of the super-app ecosystem, a new report by Finextra, in association with Infosys Finacle and OneSpan,
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Citi Wraps up Sale of Philippines Consumer Business to UnionBank for US$700 Million
Citi announced that it has completed the sale of its Philippines Consumer Business to UnionBank of the Philippines. The deal is expected to be worth approximately US$700 million. The transaction covers Citi’s local credit card, unsecured lending, deposit and investment
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ADB Helps Asian Cities Tap Private Sector Financing to Meet Their Climate Goals
The Asian Development Bank (ADB) has launched a new initiative to provide direct advisory support to help cities across Asia and the Pacific to meet their climate resilience goals while improving their infrastructure and urban services. The Creating Investable Cities
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GoTyme Gets Green Light From BSP to Begin Operations as Digital Bank in the Philippines
GoTyme announced that it had secured its Certificate of Authority (COA) to operate as a digital bank by the Bangko Sentral ng Pilipinas (BSP) on 29 July 2022. The issuance of a COA is the third and final stage involved
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Philippines’ UNO Digital Bank Raises US$11 Million Led by Malaysia’s Creador
Singapore-headquartered financial technology company UNOAsia, the primary incorporator of UNO Digital Bank in the Philippines, has secured US$ 11 million in a pre-Series A funding round led by Creador Private Equity. Creador has already invested a total of US$ 21
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Philippines Gov’t to Accelerate Roll Out of PhilSys ID, Says Finance Secretary Diokno
Finance Secretary Benjamin Diokno said that the government will accelerate the rollout of the Philippine Identification System (PhilSys ID) to expand public access to financial products and services and achieve e-governance. Former President Rodrigo Duterte had previously issued an executive
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BSP Accelerates Implementation of the Person-To-Merchant QR Code System
The QR Ph Person-to-Merchant (P2M) payment facility, now fully implemented, now may be used in 473,000 merchant locations nationwide as of April 2022 which is almost double compared to the previous month. Bangko Sentral ng Pilipinas (BSP) reported that there
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PayMongo Ties up With Atome to Offer BNPL Acceptance to Filipino Merchants
Philippines’ online payment processing startup PayMongo has partnered with Atome Philippines to expand Buy Now, Pay Later (BNPL) acceptance among merchants in the country. In February this year, PayMongo had secured US$31 million in a Series B funding round to
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Tonik Appoints Tomasz Borowski as Its Group COO
Philippines digital bank Tonik announced that Tomasz Borowski will be joining its leadership team as the Group Chief Operations Officer (COO). Tomasz will be based in Singapore and employed by the holding company Tonik Financial, while working closely with the
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