August 2022 - Fintech News Philippines

Archive

Home Credit Philippines Expands Its Reach to Include More Sectors

Consumer finance company Home Credit Philippines (HCPH) announced that it has further expanded its services to several sectors to bring Filipinos closer to the lifestyle they want. Home Credit said that it will continue to find more opportunities to expand

Crypto

Fintech Alliance PH Pushes for Consumer Protection-Focused Crypto Regulations

Fintech Alliance.PH, a collaboration amongst strategic players in the digital finance space operating in the Philippines, announced its support for a risk-based regulatory regime that puts consumer protection at the core. The Senate Bill 184 and Senate Resolution 126 was

Virtual Banking

BSP Green Lights All Six Digital Banks to Launch Full Operations

The Bangko Sentral ng Pilipinas (BSP) has issued Certificates of Authority (COA) to all the six licensed digital banks in the country, allowing them to pursue full operations. The most recent recipients were UnionDigital Bank and GoTyme Bank, which obtained

Blockchain Remittance

Coins.ph and OK Remit to Enable Low-Cost Remittances From Japan to the Philippines

Coins.ph, a Philippines’ digital wallet provider and crypto exchange platform, and Asian Net, a money transfer company in Japan operating under the brand name of OK Remit, have jointly launched the On-Demand Liquidity (ODL) service on RippleNet to enable instant,

Financial Inclusion

BSP Says More Than 50% Of Filipinos Now Own a Financial Account

The Bangko Sentral ng Pilipinas (BSP) reported that more than half of the country’s adult population now owns a financial account. The 2021 Financial Inclusion Survey (FIS) conducted by BSP showed that account ownership surged to 56 percent in 2021,

Lending

Atome Partners With Mastercard to Roll Out New BNPL Card for Filipinos

Buy Now, Pay Later firm Atome announced that it has partnered with Mastercard to roll out its Atome Card in the Philippines that can be used to pay online and in-store retailers. Consumers in the Philippines can register their interest for

Payments

PESONet Transactions Sees Massive Spike With Multi-Batch Settlement Launch

The total value of PESONet transactions jumped by 48.1 percent year-on-year, reaching PHP 2.9 trillion in the first half of 2022, following the rollout of the PESONet’s Multiple Batch Settlement (MBS) facility. The number of transactions processed through PESONet also

Wealthtech

UnionBank Partners With Avaloq to Innovate Its Wealth Management Platform

Unionbank of the Philippines announced that it has partnered with Swiss core banking solution provider Avaloq to transform its wealth management business. The Avaloq Core Platform aims to support UnionBank in offering its clients access to holistic wealth management services,

E-wallets Lending Payments

GCash Enables Users to Pay Their Bills via Its Micro-Lending Facility GCredit

Philippines’ mobile wallet GCash announced that its users will be able to pay their bills via its digital micro-lending facility GCredit. GCredit is only available for fully-verified users who have enough GScore, a trust score based on a GCash user’s

Crypto

UnionBank Allows Select Customers to Buy and Sell Bitcoin Within App

Union Bank of the Philippines announced that it is set to offer virtual asset exchange services through its mobile banking app. The bank said that it is the first universal banking entity in the country to offer this service. Through