Payments

Why B2B Payments Is The Next Big Domino in APAC’s Fintech Innovation Wave

In the midst of the Covid-19 pandemic, a 2020 McKinsey report projected that Asia’s payments sector would be well positioned to exceed US$1 trillion in annual revenue by 2022 or 2023, despite also forecasting a temporary 1-8% decline in Asia’s 2020

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BSP Says EGov Pay’s Transactions Showed 467% Growth Since 2021

The use of EGov Pay, a system that enables digital payment for government services, jumped by 467 percent to over 91,000 transactions at end of 2021 from around 16,000 transactions a year earlier, according to the Bangko Sentral ng Pilipinas

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BSP and PPMI Set to Launch Three E-Payment Streams Over the Next Two Years

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc. (PPMI) will launch three e-payment streams as part of a push to broaden the use of digital payments over the next two years. BSP’s Governor Benjamin E. Diokno

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BSP Lauds the Government’s Move to Shift to Digital Payments

The Bangko Sentral ng Pilipinas (BSP) says the issuance of the executive order on the adoption of digital payments for government disbursements and collections is a welcome move. The executive order mandates all departments, agencies, and instrumentalities of the government,

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Australian Fintech Peppermint Secures E-Money License From BSP

Peppermint Innovation, an Australian fintech listed on the ASX, announced that its subsidiary has secured an Electronic Money Issuer (EMI) license from the Bangko Sentral ng Pilipinas (BSP). The EMI license authorises Peppermint Bizmoto Inc. (PBI) to deliver e-wallet services

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Singaporean Fintech Spenmo Bags Payments License From BSP

Singapore-based payments firm Spenmo announced that it has secured a Operator of Payment System (OPS) license from the Bangko Sentral ng Pilipinas (BSP). This will give Filipinos access to both bill payments and employee spend management in one platform. Aside

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PayMaya’s Parent Company Voyager Raises US$210 Million, Vaulting It to Unicorn Status

Voyager Innovations, the company behind the Philippines digital wallet PayMaya and neobank Maya Bank, has raised US$210 million in new funds, vaulting it to unicorn status with a valuation of approximately US$1.4 billion. The round was led by Voyager’s first

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Philippines’ UNO Digital Bank Plans to Issue Debit Cards Powered by Mastercard

Bangko Sentral ng Pilipinas-licensed UNO Digital Bank announced that it is partnering with Mastercard to issue virtual and physical debit cards in the country. The virtual cards will make it easy for customers to transact online, and the physical card

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Velo Labs Partners PDAX to Enhance Cross-Border Payments to the Philippines

Velo Labs, a blockchain-based financial protocol enabling digital credit issuance and borderless asset transfer for businesses, and the Philippine Digital Asset Exchange (PDAX) have formed a partnership. The partnership aims to improve cross-border payments to the Philippines using blockchain technology.

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Unlocking APAC’s Cross-Border Commerce Opportunity with Embedded Payments

In Asia Pacific (APAC), the rapid development of cross-border e-commerce has fueled demand for cross-border payment capabilities and embedded financial solutions as small, online businesses embrace digital technologies to broaden their reach and go global, a recent report by Currencycloud shows. Embedded

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