Archive
Philippines Gov’t to Accelerate Roll Out of PhilSys ID, Says Finance Secretary Diokno
Finance Secretary Benjamin Diokno said that the government will accelerate the rollout of the Philippine Identification System (PhilSys ID) to expand public access to financial products and services and achieve e-governance. Former President Rodrigo Duterte had previously issued an executive
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BSP Accelerates Implementation of the Person-To-Merchant QR Code System
The QR Ph Person-to-Merchant (P2M) payment facility, now fully implemented, now may be used in 473,000 merchant locations nationwide as of April 2022 which is almost double compared to the previous month. Bangko Sentral ng Pilipinas (BSP) reported that there
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Are Filipino Banks Able to Keep Up With BSP’s New IT Risk Rules?
If you’re a risk management leader in the Philippines, Circular No. 1140 might keep you up at night. After all, it’s not every day that the Bangko Sentral ng Philipines (BSP) passes sweeping regulations requiring banks to implement a new
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PayMongo Ties up With Atome to Offer BNPL Acceptance to Filipino Merchants
Philippines’ online payment processing startup PayMongo has partnered with Atome Philippines to expand Buy Now, Pay Later (BNPL) acceptance among merchants in the country. In February this year, PayMongo had secured US$31 million in a Series B funding round to
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Tonik Appoints Tomasz Borowski as Its Group COO
Philippines digital bank Tonik announced that Tomasz Borowski will be joining its leadership team as the Group Chief Operations Officer (COO). Tomasz will be based in Singapore and employed by the holding company Tonik Financial, while working closely with the
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4 Ways Alternative Data Is Improving Fintech Companies in APAC
Various categories of fintech firms – Buy Now, Pay Later (BNPL), digital lending, payments and collections – are increasingly leveraging predictive models built using artificial intelligence and machine learning to support core business functions such as risk decisioning. According to
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Asset Manager ATRAM Taps additiv to Digitise Its Wealth Management Platform
ATRAM Trust Corporation (ATRAM), an independent asset and wealth manager in the Philippines, announced that it has signed a strategic partnership with global wealthtech platform provider additiv. The strategic partnership will enable ATRAM to digitise their wealth management platform that
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UnionDigital Bank Secures BSP’s Approval to Begin Operations
UnionDigital Bank announced that it has secured the necessary approval from the Bangko Sentral ng Pilipinas (BSP) to operate as a digital bank on July 12, 2022. The receipt of a Certificate of Authority (COA) is the final step in
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Payment Managers Are Redefining Their Strategic Priorities for 2022
It is evident that digital acceleration is creating a new payments paradigm as corporate non-cash payments are forecasted to reach US$200 billion transactions by 2025. Shifting global payments priorities are placing new pressures on payments operations. Payments executives are facing
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GrabPay Pushes Back InstaPay Transfer Fee to August
Southeast Asia ride hailing superapp Grab announced via an app advisory that it will delay charging additional fees for InstaPay transactions until August 8 this year. InstaPay is a real-time electronic payments system that had recently been designated as a
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