Digital Payments
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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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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HSBC Philippines Unveils Multi-Channel Payment Processing for E-commerce
HSBC Philippines has unveiled a new application programming interface (API)-based e-commerce payment solution known as Omni Collect. This platform aims to simplify how businesses manage payments across various channels, facilitating the integration of both online and offline payment methods for
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BSP CBDC Project: Here’s All We Know About the Wholesale Digital Currency
In the rapidly evolving landscape of global finance, the fairly recent emergence of Central Bank Digital Currency (CBDC) represents a significant shift towards the digitalisation of national currencies. The Bangko Sentral ng Pilipinas (BSP), under the leadership of Governor Eli
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Quezon City Introduces Paleng-QR Ph Plus to Advance Payments Transformation
Quezon City has officially introduced the Paleng-QR Ph Plus programme, a development that marks a significant move towards enhancing the efficiency of payment systems through digital means in the city. The programme was inaugurated in mid-January at the Project 4
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BillEase and Razer Merchant Services to Boost BNPL Services in the Philippines
BillEase, a Philippine consumer finance app, has partnered with Razer Merchant Services (RMS) to integrate its payment solutions into RMS’s merchant network, aiming to expand the Buy Now, Pay Later (BNPL) services in the region. This collaboration comes as the
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GCash Owner Mynt Poised to Fully Acquire ECPay in a Strategic Move
Globe Fintech Innovations, Inc (also known as Mynt), which owns leading e-wallet GCash, is set to fully acquire Electronic Commerce Payments Inc (ECPay). Globe Telecom, Mynt’s parent company, announced its decision to sell its dominant stake in ECPay to GCash,
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Behind PNB’s Digital Strategy Which Onboarded Over 300% New Users
In the ever-evolving banking and finance landscape, the digital revolution has emerged as a driving force, revolutionising how financial services are delivered and consumed. With a focus on enhancing customer satisfaction, Philippine National Bank (PNB) began a strategic effort in
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SIM Registration Urged as 20% Risk Losing Access Digital Payments
The FinTech Alliance Philippines encourages mobile phone users to register their SIM cards in compliance with the nationwide SIM Registration Act (RA 11934). Unregistered SIM cards will be deactivated after July 26, 2023, potentially affecting 20 percent of mobile phone
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How Far Along is the Philippines’ Digital Payments Transformation Roadmap?
Of the many branches of fintech that can benefit society, the Philippines recognised the need to embrace digital payments as a means of fostering financial inclusion and economic growth. In response, the Bangko Sentral ng Pilipinas (BSP) launched the Digital
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