Various

BSP to Impose Annual Cap of 24% on Credit Card Interest Rates

The Bangko Sentral ng Pilipinas (BSP) has imposed an interest rate cap of 2% a month or 24% annually starting 3 November 2020 onwards. “Starting on this date, interest or finance charges on unpaid outstanding credit card balance should not

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Fintech Alliance.ph Supports the Philippines Government’s Shared Prosperity Initiative

Fintech Alliance.ph joins 25 members from the Philippine Business Groups (PBS) to organise a convocation in support of the government’s “Ambisyon Natin 2040” initiative amidst the COVID-19 pandemic. A manifesto of support will be presented via Zoom and Facebook live

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Grab Philippines Appoints Grace Vera Cruz as Its Country Head

Grab, South East Asian ride-hailing app, announced the appointment of Grace Vera Cruz as Country Head for Grab Philippines. Grace brings with her more than 15 years of business experience and vast industry knowledge to drive Grab’s mission in the

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Philippines Airline Cebu Pacific Opts for Cellpoint Digital’s Payment Platform

Cebu Pacific Airlines airline has selected CellPoint Digit to implement a Payment Platform across all its digital channels. The platform called Velocity, will enable Cebu Pacific to ease the payment experience of its repeat customers by deploying stored cards in

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Filipino Teachers Offered Alternative Income Source Through RCBC’s DiskarTech App

Rizal Commercial Banking Corporation (RCBC) has partnered with PLDT, a major telco player from the Philippines, to improve the welfare of the country’s educators by offering them an alternative income source during the COVID-19 pandemic. RCBC, through its DiskarTech app,

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Bangko Sentral ng Pilipinas Inks Cooperation Agreement with Indonesia’s OJK

The Bangko Sentral ng Pilipinas (BSP) and Otoritas Jasa Keuangan (OJK) has signed a Memorandum of Understanding (MOU) on 1 September 2020. The MOU was formed to facilitate consultation, cooperation and the exchange of information between the two institutions. It

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Fintech Report Philippines 2020: Mapping out the Fintech Philippines Ecosystem

The Philippines’ fintech ecosystem is brimming with innovation with a vibrant mix of entrepreneurs attempting to fill in the gap within the financial system. Despite the strides that the country has made in this space, the Philippines’ narrative has often

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Alibaba Cloud Joins Fintech Alliance.Ph

During the recent virtual general membership meeting of the Fintech Alliance.ph, Alibaba Cloud was inducted as its newest member. Alibaba Cloud is the data intelligence backbone of Alibaba Group with more than 3 million customers worldwide. Alibaba Cloud, founded in

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ASEAN Financial Innovation Network (AFIN) Lands Partnership with Fintech Alliance.PH

Filipino fintech players can expect a boost from their regional counterparts as local trade association Fintech Alliance.ph inks a deal with the ASEAN Financial Innovation Network (AFIN). The two parties yesterday agreed in a signed memorandum of understanding to promote

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Bill Taxing Digital Economy in Philippines to Kill “Infant” Industry, Says Fintech Sector Group

Fintech Alliance.ph, a coalition of fintech and digital companies, has tagged a proposed bill in the House of Representatives to tax electronic transactions as an “abortifacient” to the digital transformation of the country. “We fully understand that taxation is the

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