Fintech News from the Philippines
Philippines
Philippines Launches Blockchain-Based App for Bond Investment with UnionBank and PDAX
The Philippine Bureau of the Treasury (BTr), together with Union Bank of the Philippines (UnionBank) and Philippine Digital Asset Exchange (PDAX), launches an app for the distribution of retail treasury bonds enabled by Distributed Ledger Technology (DLT). The app, called
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Diskartech’s Taglish Digibank App Sees 8 Downloads by Filipinos Every Minute
Barely three weeks after its launch, more unbanked and underserved Filipinos are now downloading the country’s first and only Taglish inclusion super mobile app, DiskarTech. Taglish refers to the Philippine language Tagalog infused with American English terms that has been
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CIMB’s Digital Bank in Philippines Poised for 500% Growth in 2020
CIMB Bank Philippines is foreseeing a 500% increase in their deposit balances by end-year, following a reported 160% surge of average cash-in per customer in the second quarter of 2020. Their momentum for customer acquisition stood strong throughout April to
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GrabPay Philippines Enables Instant Fund Transfers with InstaPay
GrabPay announced today the introduction of instant fund transfers in the Philippines within its e-wallet. This new feature is made possible thanks InstaPay, an initiative from Bangko Sentral ng Pilipinas (BSP) to enable payment interoperability. The introduction of this feature
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Philippines Social Security to Digitise Payments Using E-Wallets and Bank Transfers
The Philippines Social Security System (SSS) has started paying funeral benefit claims through the banks and other alternative payment channels as the pension fund shifts its transactions online. Effective 22nd June 2020, funeral benefits will no longer be released through
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Philippines’ Department of Agriculture Enlists PayMaya for Loan Disbursement
The Department of Agriculture’s has announced the use of PayMaya, a mobile wallet under the purview of PLDT, to disburse loans for their Kapital Access for Young Agripreneurs (KAYA) financing program through the “KAYA” cash card. The initiative was formally
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Philippines’ Digital Bank tonik Announces Partnership With Mastercard
Fresh off raising their US$ 21 Million Series A round, tonik announced today a partnership with Mastercard, which will allow its users access to Mastercard’s global network. This will enable its users to make payments anywhere with any merchants who
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ASEAN Financial Innovation Network (AFIN) Lands Partnership with Fintech Alliance.PH
Filipino fintech players can expect a boost from their regional counterparts as local trade association Fintech Alliance.ph inks a deal with the ASEAN Financial Innovation Network (AFIN). The two parties yesterday agreed in a signed memorandum of understanding to promote
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FICO Survey: Filipinos Showing Greater Acceptance for Biometrics
FICO, a global analytics software firm, has released its Consumer Digital Banking Survey, which found a notable percentage of Filipinos are not taking the necessary precautions to protect their passwords and logins when banking online. The study found that only 53% are using
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Robocash Raises Pre-IPO Round for Philippines Digibank Despite Revoked Lending License
Robocash Group opened a US$5 million pre-IPO funding round to finance the launch of its digital bank in Philippines called Una Bank by September 2020. This move is in preparation for an initial public offering (IPO) on the Australian Stock
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