Tagged: Philippines

June 6, 2021 @ 9:36 pm By Omar Faridi  |  

Rizal Commercial Banking Corporation’s (RCBC) in the Philippines has revealed that its financial inclusion super app DiskarTech has been used widely as a disbursement platform for social aid, loans proceeds, dividends, and for making virtual payments. Since the community quarantines began (following the COVID-19 outbreak)… Read More

May 29, 2021 @ 10:18 pm By Omar Faridi  |  

Croatia’s Robo.cash, a peer-to-peer lending marketplace, reveals that its parent holding company, the Robocash Group, is getting ready for a $5 million bond placement in the coming days. As noted in an update, dated May 27, 2021, by Robo.cash, the Group intends to issue bonds… Read More

May 29, 2021 @ 4:14 pm By Omar Faridi  |  

Komo, a digital banking service developed by East-West Banking Corporation (EastWest) (PSE: EW) in the Philippines, has teamed up with Open Banking service provider Brankas in order to support instant in-app deposits. Through this partnership, Komo users will be able to instantly top-up their balance… Read More

May 29, 2021 @ 2:30 pm By Omar Faridi  |  

The Fintech Alliance.PH and Fintech Philippines Association (FPH) have launched the Philippines Fintech Industry Sandbox pilot which was first unveiled during the Singapore Fintech Festival 2020. The sandbox pilot is supported by the United Kingdom’s ASEAN Economic Reform Program (ASEAN ERP). It has reportedly been… Read More

May 24, 2021 @ 12:57 am By Omar Faridi  |  

Rizal Commercial Banking Corporation (RCBC) has revealed that it has seen dramatic growth in its digital payments volume during the last year. The value of InstaPay and PESONet money transfers of RCBC Online and its mobile banking app surged 293% when compared to volumes reported… Read More

May 23, 2021 @ 8:55 pm By Omar Faridi  |  

Over 800,000 residents in the Philippines have reportedly signed up with the nation’s Identification System (PhilSys) through digital or online registration. This, according to data from the Philippine Statistics Authority (PSA). As reported by Fintech News Philippines, the nation’s government has been asking locals to… Read More

May 17, 2021 @ 2:29 am By Omar Faridi  |  

The Land Bank of the Philippines has introduced its digital onboarding platform for its clients so they can easily open up a savings account without being required to visit a physical bank location. The State-managed banking institution unveiled its digital onboarding system, called DOBS Mobile,… Read More

May 9, 2021 @ 11:17 pm By Omar Faridi  |  

Australia-based Buy Now, Pay Later (BNPL) Fintech firm Zip Co has reportedly decided to expand its global operations. Zip has received a strategic investment in TendoPay, a BNPL service provider operating in the Philippines. This latest investment marks Zip’s initial steps into Southeast Asia, which… Read More

May 9, 2021 @ 9:07 pm By Omar Faridi  |  

PayMaya, a mobile wallet that’s operating under the purview of PLDT, has reportedly become the first Fintech firm to start using QR Ph for merchants. QR Ph was introduced by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank, with assistance from BancNet and… Read More

May 2, 2021 @ 11:09 pm By Omar Faridi  |  

Earlier this week, Philippines based digital bank Tonik partnered with PESONet in order to support safe and secure digital fund transfers to its account from other banking service providers. Tonik clients now have the option to send money from a PESONet participating bank directly to… Read More

April 23, 2021 @ 6:06 pm By Omar Faridi  |  

Philippines-based Uploan, an established provider of salary-linked financial services, has reportedly acquired a senior secured loan of $15 million from UK’s Lendable, a provider of debt to Fintech firms in emerging or developing markets. The long-term facility should help Uploan with expanding its existing loan… Read More

April 5, 2021 @ 11:17 pm By Omar Faridi  |  

Overseas Filipino Bank (OFBank), which is a wholly-owned subsidiary of the Land Bank of the Philippines (LANDBANK), has managed to acquire an operational license following the introduction of the Bangko Sentral ng Pilipinas’ (BSP) updated virtual banking guidelines. OFBank was reportedly provided a digital banking… Read More

March 31, 2021 @ 12:57 am By Omar Faridi  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, is reportedly looking into adopting a virtual banking framework so that it may be leveraged to enable greater financial inclusion. The new digital banking guidelines are being developed to support a regulatory environment… Read More

March 22, 2021 @ 10:52 pm By Omar Faridi  |  

Southeast Asia-based all-digital banking challenger Tonik has officially launched the first neobank in the Philippines. Tonik is regulated by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Tonik’s deposits will reportedly be insured by the Philippine Deposit Insurance Corporation (PDIC). The digital banking… Read More

March 17, 2021 @ 11:18 pm By JD Alois  |  

BPC Technology’s payment division, O-City, is partnering with the Philippines’ Land Bank of the Philippines to pilot the country’s digital payments in Public Utility Vehicles such as buses and jeepneys. O-CITY is expected to ensure urban transit systems are interoperable and travelers can pay seamlessly… Read More

March 4, 2021 @ 11:05 pm By Omar Faridi  |  

The Philippines’ Securities and Exchange Commission (SEC) has introduced its online payment system for firms so they can easily pay their registration fees. The new SEC Payment Portal is a web-based system that can accept payment for registrations, transaction fees, and penalties by simply using… Read More

February 26, 2021 @ 5:38 pm By JD Alois  |  

PDAX, a licensed crypto exchange operating in the Philippines, suffered an outage earlier this month. There have been multiple reports that traders were able to purchase Bitcoin at a steep discount during a time when BTC was trading at new all-time highs. A statement from… Read More

February 25, 2021 @ 8:28 pm By Omar Faridi  |  

Moneybees, which claims to be the very first over-the-counter (OTC) cryptocurrency service in the Philippines, has announced that it’s launching three new outlets this month. The outlets are being opened to accommodate the growing demand for OTC transactions among Filipino cryptocurrency traders and investors, according… Read More

February 24, 2021 @ 10:39 pm By Omar Faridi  |  

Tyme, a multinational digital banking group based in Singapore, has reportedly secured $110 million in capital through a Series B funding round. Tyme is focused on bringing foreign investments into South Africa. TymeBank aims to establish the foundation for its business expansion across ASEAN region,… Read More

January 29, 2021 @ 9:05 pm By Omar Faridi  |  

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has reportedly reviewed and approved the applicable guidelines for virtual asset service providers (VASP) and other entities that facilitate financial services by using VASPs (also referred to as cryptocurrencies). The new guidelines have updated the… Read More