Wallets

Philippines’ RCBC and DTI To Enable Digital Payments For Micro-Businesses

Rizal Commercial Banking Corporation (RCBC) and the Department of Trade and Industry (DTI) has partnered to create DiskarTech’s NegosyanTech programme to digitalise community-based microenterprises in every barangay nationwide through partnership and ecosystem building. More than 1.3 million sari-sari stores (a

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GrabPay Philippines Enables Instant Fund Transfers with InstaPay

GrabPay announced today the introduction of instant fund transfers in the Philippines within its e-wallet. This new feature is made possible thanks InstaPay, an initiative from Bangko Sentral ng Pilipinas (BSP) to enable payment interoperability. The introduction of this feature

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Philippines Social Security to Digitise Payments Using E-Wallets and Bank Transfers

The Philippines Social Security System (SSS) has started paying funeral benefit claims through the banks and other alternative payment channels as the pension fund shifts its transactions online. Effective 22nd June 2020, funeral benefits will no longer be released through

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Philippines’ Department of Agriculture Enlists PayMaya for Loan Disbursement

The Department of Agriculture’s has announced the use of PayMaya, a mobile wallet under the purview of PLDT, to disburse loans for their Kapital Access for Young Agripreneurs (KAYA) financing program through the “KAYA” cash card. The initiative was formally

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UnionBank Extends Its Free Instapay Transfers

Union Bank of the Philippines (UnionBank) announced that it has extended its free Instapay transfers or instant transfers between accounts of participating central bank-supervised banks and non-bank e-money issuers in the Philippines until the end of the year. The bank

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Grab Launches a Fully Digital GrabPay Card in Philippines

Grab announced today the launch of the GrabPay Card in the Philippines, a fully digital prepaid card powered by Mastercard that extends GrabPay’s reach globally with unparalleled card security, hassle-free online payments and expanded rewards ecosystem to bring the convenience

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PayMaya’s Parent Company Secures US$ 120 Million from Tencent, IFC, KKR and PLDT

PLDT, a major telco player from the Philippines, KKR, a Global investment firm, Tencent, the China-based internet giant, and IFC, a member of the World Bank Group announced the signing of agreements which will see the parties commit up to

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Philippines’ Fintech Industry Group Drives Cashless Initiative Amidst COVID-19 Outbreak

Amidst the current contagion of potential pandemic proportions, the Philippines has reported a series of confirmed COVID-19 cases in the last four days. Given the high risk of local transmission, the Fintech Alliance.ph has heightened its awareness campaign on the

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RCBC Adopts Philippines’ National QR Code Standard For Interoperable Payment System

Rizal Commercial Banking Corporation (RCBC) announced that it has adopted the national QR (quick-response) code standard that would simplify and facilitate interoperable payment transactions. “This is another milestone in further promoting the government’s National Retail Payment System in accelerating interoperability

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Digital Wallet Corporation Enters Philippines with Fintech Acquisition

Digital Wallet Corporation (DWC) today announced its entry to the Philippines through the acquisition of a licensed remittance and foreign exchange company, Speed Money Transfer Philippines, Inc. (SMTP) with operations in the Philippines and Australia. With this acquisition, SMTP is

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