Payments
BSP to Finalise Cross-Border Payments Blueprint, CBDC Report This Year
The Bangko Sentral ng Pilipinas (BSP) is currently finalising a blueprint for instant cross-border payments, which promises to be a competitively priced option in the multinational remittance market. BSP Deputy Governor Mamerto E. Tangonan announced that the BSP is working
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OmniPay is the First Non-Bank on BSP’s Real-Time Payment System
The Bangko Sentral ng Pilipinas (BSP) recently integrated OmniPay, Inc. into its PhilPaSSplus system, marking it as the first non-bank electronic money issuer (EMI) to participate in the BSP’s Real Time Gross Settlement (RTGS) payment system. This inclusion underlines OmniPay’s
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BSP Maintains Fee Cap on InstaPay and PESONet, Pushes to Eliminate Cost
The Bangko Sentral ng Pilipinas (BSP) has decided to keep the current cap on fees for InstaPay and PESONet, two key electronic fund transfer systems. PESONet facilitates batch electronic funds transfers while InstaPay offers real-time, low-value digital payment options. Financial
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BSP to Extend Electronic Money Licence Moratorium to End-2024
The Bangko Sentral ng Pilipinas (BSP) is extending the moratorium imposed on the issuance of licences to new non-bank electronic money issuers (EMIs) by another year. BSP Deputy Governor Mamerto Tangonan said the moratorium on the entry of new EMI-non-bank
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BillEase and Alipay+ Unveil Auto-Debit Feature to Simplify Digital Payments
BillEase, a consumer finance and ‘buy now, pay later’ app, has partnered with Ant International’s Alipay+ to launch an auto-debit feature, aiming to simplify online transactions. This new facility, named Alipay+ Auto Debit, allows users to pre-authorise Alipay+ affiliated merchants
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Iloilo City Joins BSP’s Digital Payments Push with Paleng-QR Ph Plus Adoption
Iloilo City has become the latest among 15 local governments in the Philippines to embrace the Paleng-QR Ph Plus programme, an initiative backed by the central bank to promote the use of digital payments in public markets and local transportation.
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PayMongo and RBank Forge Strategic Alliance to Enhance SME Digital Commerce
Payment processing platform PayMongo has recently entered into a strategic partnership with Robinsons Bank (RBank), to advance digital payment solutions targeted for small and medium enterprises (SMEs). According to a statement this collaboration is poised to address the digital commerce
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Filipino Digital Bank Maya Taps TerraPay for Seamless Remittance
Payments infrastructure company TerraPay and Philippines’ digital bank Maya announced a strategic partnership at the Singapore Fintech Festival aimed at improving international remittances for Filipinos worldwide. As part of this partnership, users of the Maya app will be able to
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GCash Users Can Now Pay at Alipay+ Merchants in Six New Countries
Philippines’ e-wallet GCash has expanded the availability of ‘GCash Global Pay’ to now include six new markets namely South Korea, Singapore, Malaysia, France, Italy, and the United Kingdom. This follows the initial launch of the service earlier this year. GCash
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UnionBank Launches Four New Credit Cards
UnionBank of the Philippines recently launched four new credit cards with a variety of benefits to cater to the different needs and lifestyles of its customers. The UnionBank Rewards Card is suitable for those who shop and dine out often,
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