Payments Archives - Fintech News Philippines

Payments

Blockchain Payments

I-Remit Taps Ripple’s Liquidity Solution for Same-Day Settlements Globally

I-Remit, a non-bank remittance service provider in the Philippines, will leverage Ripple’s On-Demand Liquidity (ODL) solution to improve its cross-border treasury flows. As a partner of Ripple since 2018, I-Remit is an early adopter of ODL and has been using

Payments

PESONet, InstaPay Transactions Surpassed PHP 5.37 Trillion in July This Year

The combined value of PESONet and InstaPay transactions went beyond PHP 5.37 trillion during the first seven months of 2022, a 43 percent increase from the values recorded during the same period last year. PESONet and InstaPay also recorded more

Payments Virtual Banking

GoTyme Bank Launches New Visa Debit Card, Aims for 10 Million Clients in 5 Years

Gokongwei Group‘s digital bank GoTyme, interbank network BancNet, and Visa have formed a partnership to introduce the GoTyme Visa ATM Debit Card. This will allow cardholders to conduct Visa transactions worldwide and make ATM withdrawals when traveling outside the country.

Payments

InstaPay’s Transactions Continue on an Upward Trajectory

Real-time fund transfer service InstaPay processed close to 300 million transactions with a total value of PHP 5.49 trillion in the first seven months of the year. The average daily volume was 1.37 million transactions. InstaPay enables customers of a

Payments Virtual Banking

Tonik Users Can Now Pay Their Bills Seamlessly via the BillsPay Feature

Philippines’ digital bank Tonik has enabled the BillsPay feature for its users to seamlessly pay their bills on time via its app through a partnership with Bayad, a multi-channel payment platform in the country. Users can now settle their dues

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

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

Payments Virtual Banking

Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay

Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers. Tonik said in a statement that it is the first licensed digital bank in the country to fully implement InstaPay

Payments

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

Lending Payments

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