Tag "Bangko Sentral ng Pilipinas (BSP)"

Here’s How Fintech Is Modernising Digital Payments in the Philippines

The digital payments landscape in the Philippines has undergone significant growth and evolution in recent years. In 2015, the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, introduced the National Retail Payment System (NRPS) to promote the development and

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The Philippines Is Poised to Become Number One Global Blockchain Hub

The Philippines has the potential to become the number one blockchain hub, according to the newly formed Blockchain Council of the Philippines. The archipelago is home to several blockchain startups and amongst the highest internet and NFT penetration rate of a digital

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BSP, Philippine Payments Management Launches ‘Bills Pay PH’

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management (PPMI) launched “Bills Pay PH” in line with continuing efforts to digitalise the country’s retail payments landscape. Bills Pay PH facilitates digital transactions between accounts from different payment service

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Philippines: Web3 Is Where the Future’s at for Filipinos

Many are familiar with the term Overseas Filipino Workers (OFW), but how about the Metaverse Filipino Workers (MFW)? Instead of going outside the country, they work in the metaverse without having to leave their homes. That’s where the Philippines is

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Philippines Fintech Requires Robust Cybersecurity to Fight Off Bad Actors

Concerns and awareness about cybersecurity have been at the forefront as the Philippines increase digital payment services and move towards a cashless society. The parallel relationship between usage and scam has been evident in the age of fintech, and the

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Cashless Philippines: Becoming a Cash-Lite Economy

The Philippines has been gaining tremendous momentum in its bid to become a cashless society. Such is the speed of the process that, according to the latest Visa Consumer Payment Attitudes Study, 92 percent of Filipinos have been using multiple cashless

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Diokno Lauds RCBC’s Physical-Digital Banking Service Rollout for Filipinos

Finance Secretary Benjamin Diokno commended Rizal Commercial Banking Corporation’s (RCBC) development of the country’s first mobile human-assisted remote banking service that seeks to provide banking services to far-flung communities. The RCBC Moneybela Barangayan Banking is a physical-digital blended banking service

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BSP Lays Out Prudential Requirements for Philippines’ Digital Banks

The Bangko Sentral ng Pilipinas (BSP) has approved the second set of guidelines for digital banks following the release of the digital bank framework in December 2020. The approved guidelines set out the BSP’s supervisory expectations with regard to corporate

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Maya Bank Hits 650,000 Customer Milestone 3 Months After Launch

Maya Bank announced that it has reached a 650,000-customer milestone just three months after launch and that it has P5 billion which is approximately US$89 million in deposit balance as of end-July 2022. The bank launched its services to the

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RCBC ATM Go Now Covers All 81 Provinces in the Philippines Through 1,400 Terminals

The Rizal Commercial Banking Corp’s (RCBC) community-based financial service ATM Go is now servicing all 81 provinces in the Philippines through over 1,400 ATM Go terminals and 1,000 partner merchants across the country. As of end August this year, ATM

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