Archive
8 Top Funded Fintech Startups in the Philippines 2020
The Philippines is home to a striving fintech industry comprising more than 190 ventures operating in lending, payments, credit scoring, and more and the top funded fintech startups in the Philippines gives us a sense of what investors and startups
Read More
Philippines Is The Latest to Approve a Digital Banking Framework
The Monetary Board approved the recognition of digital bank as a new bank category that is separate and distinct from the existing bank classifications. A digital bank is defined as a bank that offers financial products and services that are
Read More
Digibank Tonik Selects CRIF for Automation of Its Loan Origination Processes
tonik, the Philippines’ digital-only neobank, announced its collaboration with solutions provider CRIF for the automation of its loan origination and collection systems. tonik is set to launch a full range of banking services including a transactional savings account, time deposit accounts
Read More
GCash Pushes Its Way to the Top of Local App Rankings
Philippine mobile money wallet GCash was among the top apps in terms of active users from January to September 2020 in both Android and iOS. This was revealed by the data rankings from App Annie, a reputable global app ranking
Read More
Phoenix Petroleum Expands Contactless Payment Offering to Over 200 Stations
Home-grown oil company Phoenix Petroleum Philippines has expanded its contactless payment service to more than 200 of its gas stations nationwide. From the initial 100 stations offering payments through Gcash, Grabpay, Alipay, and WeChat Pay, the service has now been
Read More
SEC Urges the Central Bank to Consider Capping Consumer and Payday Loans Next
The Securities and Exchange Commission (SEC) has hailed the central bank’s move to cap charges on credit card transactions, raising its hopes that similar limits will soon apply to consumer and payday loans offered by lending and financing companies. On
Read More
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
Read More
JazzyPay Partners With BPI for Secure Online Payments to Merchants
JazzyPay, a local fintech company, announced its partnership with the Bank of the Philippine Islands (BPI) enabling Filipinos to make secure online payments to essential businesses. JazzyPay offers an online payment gateway system that allows businesses to collect payments via
Read More
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
Read More
PayMongo and Vesta Join Forces to Secure Digital Payments
PayMongo, a Manila-based online payment processing platform, announced its partnership with Vesta, a fintech focused on fraud detection for e-commerce payment solutions, to further enhance the company’s advanced fraud detection capabilities. The partnership adds fraud assessment to protect customers’ accounts
Read More