Tag "Bangko Sentral ng Pilipinas (BSP)"

BSP Fully Rolls Out Person-To-Merchant QR Code System

The Bangko Sentral ng Pilipinas (BSP) has fully rolled out the QR Ph Person-to-Merchant (P2M) payment facility with the Philippine Payments Management, Inc. (PPMI). QR Ph P2M simplifies digital payments made by customers to merchants, allows customers to transact with a

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Voyager’s PayMaya Bags Sixth Digital Bank License From BSP

Bangko Sentral ng Pilipinas (BSP) has awarded the sixth digital banking license to Voyager Innovations (Voyager), through its financial technology arm PayMaya Philippines. PayMaya had previously raised US$167 million from the likes of Philippines telecoms PLDT, global investment firm KKR,

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BSP, French Development Agency Sign PHP 41.3 Million Grant for Financial Inclusion Push

Bangko Sentral ng Pilipinas (BSP) and the Agence Française de Développement (AFD) signed a grant facility agreement of 700,000 Euros (around PHP 41.3 million) to support the Philippines’s financial inclusion drive, especially among rural and women-owned enterprises. This will fund

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Gokongwei-Tyme Partnership ‘GOtyme’ Clinches Fifth Digital Bank License From BSP

GOtyme, a partnership between Filipino conglomerate Gokongwei Group and Singapore-headquartered digital banking group Tyme, has secured the fifth digital bank license from the Bangko Sentral ng Pilipinas (BSP). GOtyme is expected to launch in the second quarter of 2022 and will

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Unionbank Becomes the Fourth Bank To Receive Philippines Digital Banking License

The Union Bank of the Philippines, which is part of a conglomerate led by Aboitiz Equity Ventures, is set to form the fourth digital-only bank in the country, according to a Philstar Global report. The UnionBank’s digital banking application was

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RCBC Rolls Out Open Banking Partnership With the Rural Bankers Association

The Rizal Commercial Banking Corporation (RCBC) has rolled out an enabling digitalisation initiative with a new partnership with the Rural Bankers Association of the Philippines (RBAP) for the SynerFi Open Finance Network. This move comes days after the Bangko Sentral

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Philippines Central Bank Cracks Down on Entities Posing as Digital Banks

The Bangko Sentral ng Pilipinas (BSP) has issued a circular to put a stop to any entities that are misrepresenting themselves as digital banks in their marketing activities. While BSP has only recently granted its first batch of licenses, several

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Philippines Central Bank BSP Issues Digital Bank License to UNObank

The Bangko Sentral ng Pilipinas (BSP) has granted the third digital bank license to Singapore headquartered fintech DigibankASIA, one of the primary incorporators of UNObank. In the past few months, BSP has granted the other two licenses to state-owned Overseas

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Philippines Fintech Groups Pilots the Fintech Industry Sandbox

The Fintech Alliance.PH and Fintech Philippines Association (FPH) introduced the Philippines Fintech Industry Sandbox pilot which was first announced during the Singapore Fintech Festival 2020. The sandbox pilot initiative is supported by the UK’s ASEAN Economic Reform Programme (ASEAN ERP)

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BSP Deputy Governor: Digital Bank License a Game Changer for Financial Inclusion

As the Philippines begins awarding its first digital banking licenses, incumbents are gearing up for a new era in banking, ramping up their digital capabilities to address market shifts and changing customer expectations. During a virtual panel discussion with Fintech

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