Tag "Bangko Sentral ng Pilipinas"

BSP Deepens Industry Partnership to Roll Out Payments Digitalisation Initiatives

The Bangko Sentral ng Pilipinas (BSP) and the payment systems industry are set to rollout an array of initiatives that are expected to further advance payments digitalization and financial inclusion in the country. “The BSP will continue to work with

Read More

Nearly 1 Million Filipinos Signed up Online for National ID via Digital Registration

More than 800,000 have already signed up for the Philippine Identification System (PhilSys) via digital registration, according to the Philippine Statistics Authority (PSA). The government is urging Filipinos to sign up for the Philippine identification (PhilID), the national ID, to

Read More

Philippines and UK Inked MoU for Fintech and Green Finance Cooperation

Several Philippines agencies have signed a Memorandum of Understanding (MOU) with the British Embassy of Manila for the country’s participation in UK’s Prosperity Fund for the ASEAN Economic Reform Programme and ASEAN Low Carbon Energy Programme. The MOU formalises the

Read More

Tyme Secures US$110 Million Funding, Eyes Virtual Banking License in the Philippines

Tyme, a multi-country digital banking group headquartered in Singapore, announced its US$110 million Series B capital raise, bringing foreign investment into South Africa for TymeBank and laying the foundation for Tyme’s expansion across ASEAN starting with the Philippines. The new

Read More

Philippines Digibank Tonik Taps FinScore’s Alternative Credit Scoring Solution

Philippines digital bank Tonik has selected FinScore, a local alternative credit scoring company to process loan applications for its Filipino customers. FinScore’s AI-powered telco data credit scoring solution will be integrated with Тonik’s digital banking platform. The credit score will

Read More

BSP to Impose Annual Cap of 24% on Credit Card Interest Rates

The Bangko Sentral ng Pilipinas (BSP) has imposed an interest rate cap of 2% a month or 24% annually starting 3 November 2020 onwards. “Starting on this date, interest or finance charges on unpaid outstanding credit card balance should not

Read More

BSP Pushes for Financial Inclusion With Digital Payments Transformation Roadmap

The Monetary Board has approved the Bangko Sentral ng Pilipinas’ (BSP) Digital Payments Transformation Roadmap 2020-2023. The roadmap charts BSP’s current initiatives and strategies in advancing an efficient, inclusive, safe and secure digital payments ecosystem. It has identified two key

Read More