Archive
PESONet and InstaPay Digital Transactions Surge in Q1 2024, Hitting P3.81 Trillion
In the first quarter of 2024, the combined transaction value of PESONet and InstaPay in the Philippines reached P3.81 trillion, showing a 33% increase, a third more from the P2.87 trillion collected in the corresponding period the previous year, according
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RCBC DiskarTech, Pulz Apps Support Paper-Based PhilSys IDs for Account Openings
Rizal Commercial Banking Corporation (RCBC) and its Tagalog-English financial inclusion super app DiskarTech has recognised the legitimacy of paper-based PhilSys IDs, providing essential banking services to a considerable segment of the underbanked population and supporting financial accessibility in the process.
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Higala Aims to Lower Costs to Broaden Digital Transaction Access for Rural Banks
In a bid to enhance financial inclusion, the newly launched instant payment platform Higala will look to increase the share of how rural banks in the Philippines engage with digital transactions through the InstaPay online payments processing service. Owned by
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BillEase Credit Facility Grows to US$40M with New Saison International Investment
Buy now, pay later (BNPL) BillEase has received a US$5 million capital injection from Saison Investment Management Private Limited (SIMPL), the offshore lending arm of Saison International Pte. Ltd. This investment forms part of an expansion that has increased the
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GoTyme On Track to Double User Base, Targets 10 Million Users in Four Years
GoTyme Bank Corp, backed by the Gokongwei group, is on track to surpass its initial five-year goal. by achieving a milestone of 10 million users within just four years instead of five as previously projected. Nathaniel Clarke, the digital bank’s
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RCBC, Digital Wallet Corp. to Streamline Philippines-Japan Cross-Border Payments
In a move to streamline digital transactions between the Philippines and Japan, Rizal Commercial Banking Corporation (RCBC) has entered into a partnership with Digital Wallet Corporation (DWC), a Japanese IT and fintech company. This collaboration aims to facilitate smoother cross-border
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Maya Bank Extends P2.75 Billion Loan Capital to Tala for Public Micro Lending
Tala Financing Philippines Inc. has formed a partnership with Maya Bank Inc. to enhance its micro-loans programme. Under this agreement, Maya Bank will provide Tala with loan capital amounting to P2.75 billion, which Tala will distribute to the public in
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Flexible by Design: What Differentiates a Successful Payment Software Platform
In the ever-evolving landscape of payments, it is crucial to choose a payment platform from a vendor that can anticipate and support future growth through innovative functionality. This choice is key for staying ahead of your competitors. To illustrate the
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Pomelo Secures Major Series A Funding to Grow Credit-Based Remittance Services
Consumer credit-based cross border payments provider, Pomelo has recently announced a significant increase in funding, securing a Series A investment of US$35 million and expanding its warehouse facility by US$75 million. The round was led by Vy Capital, with contributions
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Philippines Digital Banks Attracted US$700 Million So Far as Investors Interest Peaks
In a promising development for the standalone digital banks in the Philippines, more than US$700 million has been invested by both local and global investors, indicating robust growth in this emerging industry. As of the end of 2023, the number
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