Archive
BSP Supports Duterte’s Executive Order to Accept National ID for All Transactions
The Bangko Sentral ng Pilipinas (BSP) supports President Rodrigo Duterte’s executive order to institutionalise the acceptance of the Philippine Identification (PhilID) or Philippine Identification System (PhilSys). This will enable the use of PhilID and PhilSys as sufficient proof of identity
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PayNet Appoints Farhan Ahmad as Its Group Chief Executive Officer
Payments Network Malaysia (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets, has named Farhan Ahmad as its new Group Chief Executive Officer effective 12 April 2022, succeeding Peter Schiesser. Farhan was the Founder and Chief
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Fintech Alliance.PH Set to Bolster BSP’s New Financial Inclusion Strategy
The Fintech Alliance.PH remains committed to bolster the Philippines’ government bold moves to ensure more of the unbanked and underserved population will be onboarded into the formal financial system in the next six years. In a hybrid live and online
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BTI Payments Offers Innovative Self-Service Kiosks for Unbanked and Underserved
Self-service kiosks are a safer alternative, especially in today’s challenging times of COVID-19 because they are contactless. It provides a safer and more convenient way for people to meet their transactional requirements. For a country like the Philippines, where there
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PayMongo Secures US$31 Million Series B to Venture Into the BNPL Space
Philippines’ payment processing startup PayMongo announced that it has secured US$31 million in a Series B funding round. The round brings the company’s total funding to just under US$46 million, following a US$12 million Series A round in 2020 and
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Top Three Digital Fraud Prevention Trends for 2022
2021 was another memorable year. Organisations that built remote processes in response to the pandemic have spent the past year optimising and strengthening their systems to ensure a positive and secure customer experience. However, with identity theft, payment fraud, phishing,
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BSP Aims to Meet Its Financial Inclusion Target by 2023 With New Blueprint
The Bangko Sentral ng Pilipinas (BSP) has rolled out an updated National Strategy for Financial Inclusion (NSFI) 2022-2028. The NSFI is a blueprint for broad-based growth and financial resilience, and shows the collective commitment of the government, private sector, and
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UnionBank Joins R3’s Digital Currency Sandbox
The Union Bank of the Philippines has become the first commercial bank in the country to be part of the global R3 Sandbox for Digital Currencies. The sandbox brings together commercial banks, central banks, payment providers and exchanges to collaborate
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Crypto Exchange PDAX Secures US$50 Million in Series B Led by Tiger Global
The Philippine Digital Asset Exchange (PDAX) announced that it has raised more than US$50 million in funding led by Tiger Global. Tiger’s investment completes the company’s Series B funding round which began with US$12.5 million in August 2021. Other investors include
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Tonik Pulls in US$131 Million From Series B Fundraise Led by Mizuho Bank
Philippines’ digital bank Tonik announced that it closed a US$131 million Series B equity funding round led by Japan’s Mizuho Bank which has been active in the country since 1981. Other significant new investors in the round included Prosus Ventures
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