Philippines
UnionBank Extends Its Free Instapay Transfers
Union Bank of the Philippines (UnionBank) announced that it has extended its free Instapay transfers or instant transfers between accounts of participating central bank-supervised banks and non-bank e-money issuers in the Philippines until the end of the year. The bank
Read More
UnionBank Rolls Out 11,000 Cash Out Options Nationwide
UnionBank recently rolled out more cash-out options for customers via 11,000 remittance counters across the Philippines, including in rural areas where most of the unbanked and underserved population are located. Recognizing that sending funds to families and relatives living in
Read More
RCBC Named Best Digital Bank in Philippines
The Rizal Commercial Banking Corporation (RCBC) was recognized yesterday as the “Best Digital Bank in the Philippines” by a Hong Kong-based institutional investment magazine. This year’s edition of the Annual Alpha Southeast Asia Best FI Awards deliberated on the performance
Read More
Philippines’ Digital-Only Bank Tonik Raises $21M Series A Led by Sequoia India and Point72
Tonik Financial Pte Ltd (“tonik”) announced today that it closed a $21M round of Series A equity funding. The round was led by blue-chip VC investors Sequoia India and Point72 Ventures, with a significant participation from previous VC investors Insignia
Read More
Bill Taxing Digital Economy in Philippines to Kill “Infant” Industry, Says Fintech Sector Group
Fintech Alliance.ph, a coalition of fintech and digital companies, has tagged a proposed bill in the House of Representatives to tax electronic transactions as an “abortifacient” to the digital transformation of the country. “We fully understand that taxation is the
Read More
RCBC Sees 1000% Increase in Growth for Cardless ATM Withdrawal Service
More than 1,000-percent increase in the growth was recorded in May in transaction value coursed through Rizal Commercial Banking Corporation’s (RCBC) cardless ATM withdrawal service, as the bank sustains its exponential growth across key digital metrics at the close of
Read More
Grab Launches a Fully Digital GrabPay Card in Philippines
Grab announced today the launch of the GrabPay Card in the Philippines, a fully digital prepaid card powered by Mastercard that extends GrabPay’s reach globally with unparalleled card security, hassle-free online payments and expanded rewards ecosystem to bring the convenience
Read More
RCBC Expands Its Payout Network to Include Those Without Mobile Phones in Rural Areas
Rizal Commercial Banking Corporation (RCBC) said that it is closer to its target of covering all provinces of the country with handheld automated teller machines (ATM) as the bank beefs up the payout partner network through its ATM Go service.
Read More
Philippines Central Bank Governor Says 50% of Payment Transactions Will Be Digital by 2023
At least half of retail payment transactions will be shifted to digital in three years. This according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno in a digital forum hosted today by the Fintech Alliance.ph. Along with this commitment, Diokno
Read More
Top 7 Fintech Startups in the Philippines for 2020
Last year, Manila was named one of the world’s friendliest cities in the world for fintech startups, and was recognized for its strong English-language skills and well-established outsourcing industries. Fintech companies already compose 15% of Manila’s startups, according to Startup
Read More