Fintech Alliance.PH has signed a strategic agreement with KasKasan Buddies, an online community of over 1.3 million members, to promote digital financial literacy. The Memorandum of Agreement was signed on 11 March during the alliance’s 2026 General Membership Meeting in Bonifacio Global City. The initiative is a direct offshoot of the recent Bangko Sentral ng Pilipinas Financial Education Congress. It strongly emphasised that building digital trust requires dedicated, cross-sector collaboration. Together, the two entities will launch educational initiatives focusing on responsible money habits, the safe use of financial applications, and protection against cyber fraud and scams. Lito Villanueva, founding chairman…

The Securities and Exchange Commission (SEC) of the Philippines is planning to end its suspension on the registration of new online lending platforms. To facilitate this, the regulator published draft guidelines on 12 March aimed at increasing credit accessibility whilst enforcing stronger consumer protections. Under the proposed framework, financing and lending businesses will face updated paid-up capital requirements determined by their digital footprint. Lending companies must maintain between PHP 10 million for non-digital operations and PHP 50 million for running up to 10 platforms. Meanwhile, financing firms require between PHP 20 million and PHP 100 million for similar operational scales.…

Skyro has launched an AI-narrated blog to help individuals navigate everyday money decisions. Housed under the Newsroom section of its website, the new platform provides audio versions of its articles using an artificial intelligence system designed to sound like a familiar local voice. This audio format allows users to listen to personal finance topics conveniently whilst commuting or working. The initiative aims to demystify complex financial concepts that often alienate the general public. Iya Lelyanova, Head of Marketing at Skyro, noted that “content about money can be intimidating because it is often too technical, too unfamiliar, or too broad to…

Twenty-two companies, including global payment providers Visa and Mastercard, have officially joined Fintech Alliance.PH. The induction took place during the organisation’s 2026 General Membership Meeting held on 11 March at the Marquis Events Place in Bonifacio Global City. Department of Information and Communications Technology Undersecretary Renato “Aboy” Paraiso led the oath-taking ceremony. Alongside the global payment giants, the new roster includes Security Bank, Grab Financial Group, ShopeePay, and the Asian Institute of Management. With these recent additions, the alliance has grown to over 150 corporate members. The association reports that its current members process over 95% of the retail digital…

GCash has rolled out an artificial intelligence-driven financial assistant named Pera Coach. Developed in collaboration with Microsoft, as reported by YugaTech, the new in-app tool is designed to guide users on basic money management, budgeting, and investing. To ensure wider accessibility, the feature supports multiple languages, including English, Tagalog, Cebuano, and Hiligaynon. The initiative targets the country’s ongoing financial literacy gap. According to a 2021 Bangko Sentral ng Pilipinas survey cited by the firm, a mere 2% of Filipino adults correctly answered six fundamental financial literacy questions. Pera Coach aims to address this by responding to user queries regarding financial…

Fintech Alliance.PH has launched a Fraud Intelligence Data Sharing Network during its General Membership Meeting today, 11 March 2026, in Taguig City. It is designed to facilitate the exchange of intelligence to improve fraud prevention within the Philippine digital finance sector. The alliance reports that its 140 corporate members account for over 95% of the country’s digital retail financial transaction volume. A central component of the programme is the signing of a Memorandum of Agreement between the alliance and the Cybercrime Investigation and Coordinating Center (CICC). This agreement aims to formalise cooperation between the industry and the government in tackling…

The IT and Business Process Association of the Philippines (IBPAP) has partnered with digital financial services provider Maya to improve banking access for nearly 1.9 million digital workers. The initiative aims to provide these employees with formal savings accounts and responsibly issued credit cards. The IT-BPM industry contributes approximately 8% to the national GDP and generates over US$40 billion annually. Despite earning steady incomes, the sector’s predominantly young workforce often remains excluded from traditional banking systems due to limited credit histories. Consequently, many workers struggle to secure formal credit products, pushing them towards informal or high-cost lending options. To address…

The Philippine Senate has approved the proposed OFWs Remittance Protection Act, officially known as Senate Bill No. 1917, on its second reading, Business World reported. The legislation aims to shield overseas Filipino workers from exorbitant money transfer fees whilst improving overall transparency in cross-border financial transactions. Under this measure, the Bangko Sentral ng Pilipinas, alongside the Department of Finance and the Department of Migrant Workers, will be responsible for establishing an acceptable range for remittance fees and related charges. This will apply to all banks and entities servicing overseas remittances under central bank supervision. Furthermore, the proposed law requires every…

Following a successful pilot programme, TransUnion Philippines and Mastercard have partnered to provide financial institutions with a more comprehensive view of consumer financial behaviour. The collaboration merges TransUnion’s traditional credit and alternative data with Mastercard’s aggregated transaction intelligence. This joint effort aims to assist lenders in evaluating individuals with minimal or no prior borrowing history. Incorporating behavioural signals from everyday spending activity allows banks to better evaluate an applicant’s financial capacity and risk profile Consequently, financial institutions are able to distinguish between applicants who share similar financial backgrounds. They can then use this detailed information to streamline the application review…

Security Bank Corp has teamed up with VeritasPay Philippines Inc to broaden digital payment methods for micro, small, and medium-sized enterprise (MSME) customers. The initiative is part of the lender’s Beyond Banking Partnership programme, which is designed to provide businesses with support outside of standard financing. Through a referral scheme, the bank’s MSME clients can acquire VeritasPay point-of-sale (POS) terminals at preferential rates. John David Yap, Senior Vice-President and Business Banking Head at Security Bank, noted that the collaboration helps clients integrate modern payment tools to “serve customers better and operate more efficiently” as consumer behaviour continues to shift. The…

EastWest Bank has expanded its integration with Google Pay to include its debit cards, allowing customers to make contactless payments using NFC-enabled Android smartphones and wearables. This development follows the initial rollout in November 2025, which solely supported the bank’s credit cards. Cardholders can now add their Visa-backed debit cards to Google Wallet for domestic, international, and online transactions. To ensure security, the platform employs tokenisation, replacing sensitive card details with a unique digital identifier. Additionally, users can lock and unlock their cards via the bank’s EasyWay mobile application. EastWest Bank Chief Executive Officer Jerry Ngo told Manila Bulletin that…

GCash has announced a temporary waiver of transaction fees for overseas Filipinos residing in the Middle East. The fee waiver aims to alleviate financial strain on customers amidst ongoing regional uncertainty. The initiative applies to GCash Overseas account holders based in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman. Under this scheme, the fintech company will cover charges incurred from bank transfers, mobile load purchases, and bill payments. GCash will process the reimbursements retroactively through a cashback system. For eligible transactions completed between 4 and 10 March 2026, the company will credit the corresponding cashback to users’…

VinFast Philippines has signed a Memorandum of Understanding with Maybank Philippines to provide financing for its electric vehicle (EV) battery subscription programme, Manila Bulletin reported. Through this agreement, Maybank becomes the first local bank to officially support the automaker’s specific battery subscription model. Under the partnership, buyers opting for a VinFast EV with a battery subscription can access integrated financing solutions from Maybank. These include customised loan packages with flexible payment options designed to help optimise both upfront and long-term expenses. The battery subscription model allows customers to purchase an EV with up to 20% lower initial costs. It achieves…

The Bangko Sentral ng Pilipinas (BSP) is directing supervised financial institutions to phase out interceptable authentication methods, such as SMS and email one-time passwords, for high-risk transactions and move on to server-side biometrics authentication. The Anti-Financial Account Scamming Act, which works under the BSP, officially recognises that the security biometrics authentication acts as a robust alternative to the older methods. Server-side biometrics validate a customer’s identity against centrally stored templates, reducing vulnerabilities like account takeovers or device compromises. However, the BSP warned that centralising this data creates a high-value target for cyber threats. Consequently, institutions must enforce strict minimum controls,…

Salmon Bank has secured a PHP 400 million (US$6.8 million) capital injection from its parent company, Salmon Group Ltd. Scheduled for completion by the end of March 2026, this fresh funding increases the rural lender’s total equity capital to PHP 1.6 billion (US$27.3 million). Following the latest infusion, the parent company’s overall capital commitment to the bank’s digital upgrade stands at PHP 1.3 billion (US$22.2 million). The capital boost significantly strengthens the institution’s regulatory buffers to support future asset growth. Based on its end-of-2025 balance sheet, the bank’s pro-forma Core Equity Tier 1 ratio will rise from 16.1% to 23.1%,…

Manila Bulletin reported that the Philippines is progressing with its integration into Project Nexus, a multilateral network designed to connect domestic instant payment systems. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto Tangonan confirmed the country is moving forward, having hired key executives and established a Singapore-based operating company. “They are now running it, and we’ve selected a technology operator, so the platform is currently being built,” Tangonan stated, noting a mid-2027 target for full onboarding. The initiative, led by the Bank for International Settlements, will link the Philippine InstaPay platform with fast payment systems in Singapore, Malaysia, Thailand, India,…

The Bangko Sentral ng Pilipinas (BSP) has officially increased the cash withdrawal limit in the Philippines, which prompts enhanced due diligence (EDD). Under Circular No. 1230, issued on 27 February 2026, the threshold has doubled from the previous PHP 500,000 to PHP 1 million. This adjustment aims to scrutinise high-risk activities whilst easing the process for everyday, legitimate transactions. The revision follows discussions with various industries and banks, which highlighted a high volume of standard business payouts exceeding the previous limit. It also aligns with findings from the latest anti-money laundering National Risk Assessment. The BSP noted that “robust risk-based safeguards…

Regional insurtech firm Igloo is expanding its embedded insurance business in the Philippines to address the country’s low 1.9% insurance penetration rate, as per the Back End News. To lead this domestic growth, the company has appointed Ramjit Lahiri as its new country head. Embedded insurance aims to narrow the protection gap by integrating coverage directly into digital platforms that consumers already use frequently. Since entering the Philippine market, Igloo has launched more than 55 customised products alongside over 40 digital partners, including Shopee, GCash, and Smart. Recent initiatives include a collaboration with ride-hailing service Angkas, which provides medical and…

Philippine digital wallet provider GCash has established a partnership with Careem Pay to facilitate cross-border remittances for Filipino expatriates residing in the United Arab Emirates. The agreement, formalised at Careem’s Dubai headquarters, integrates the two platforms to allow direct wallet-to-wallet money transfers. This integration enables UAE-based users to bypass conventional bank transfer delays and the need to visit physical remittance centres. Funds sent via the Careem application are credited straight to the recipient’s GCash account, typically clearing within minutes. Furthermore, the collaboration expands receiving options by providing cash pickup services at nearly 15,000 locations across the Philippines. The service actively…

The Bank of the Philippine Islands (BPI) and Ayala Land, Inc. (ALI) have partnered to implement an interoperable auto-debit system for property buyers and tenants. Scheduled for a full rollout in the first quarter of the year, this Direct Debit facility allows clients to settle recurring payments, such as property amortisations and rentals, using accounts from any participating bank. Previously, auto-debit arrangements in the Philippines required both the payer and the billing entity to maintain accounts with the same financial institution. The new multilateral system, processed via the Philippine Clearing House Corporation, removes this restriction. The multilateral auto-debit system supports…