Tag "Bangko Sentral ng Pilipinas (BSP)"
How Far Along is the Philippines’ Digital Payments Transformation Roadmap?
Of the many branches of fintech that can benefit society, the Philippines recognised the need to embrace digital payments as a means of fostering financial inclusion and economic growth. In response, the Bangko Sentral ng Pilipinas (BSP) launched the Digital
Read MoreBSP Sets Deadline for Full Adoption of QR Ph by 1 July
The Bangko Sentral ng Pilipinas (BSP) has given all BSP-supervised financial institutions (BSFIs) until 1 July 2023 to fully adopt the National QR Code Standard (QR Ph). The guidelines were issued via a memorandum that provides for the transition of
Read MoreBSP Aims to Lower or Waive Fees for Smaller E-Payments
The Bangko Sentral ng Pilipinas (BSP) said that it will continue to work with banks to lower or waive transaction fees for smaller e-payments. The regulator is looking to make financial digitalisation more inclusive in line with the BSP’s Digital
Read MoreHere’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
Read MoreThe 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
Read MoreBSP, 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
Read MorePhilippines: 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
Read MorePhilippines 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
Read MoreCashless 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
Read MoreDiokno 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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