Digital payments came just over five percentage points (ppts) short of the Bangko Sentral ng Pilipinas’ (BSP) 70-percent target for 2028, already accounting for nearly two-thirds of the country’s total retail transactions in 2025. BSP Deputy Governor Zeno Ronald R. Abenoja reported during the...
Global digital payments firm Visa and USSC Money Services, Inc. (UMSI) have launched U Accept, a payment solution that turns smartphones into point-of-sale (POS) terminals, allowing small enterprises to accept e-payments without investing in traditional, often costly, POS hardware. “UMSI has...
Senator Joel Villanueva has called on banks to strictly implement the Bangko Sentral ng Pilipinas’ (BSP) decision on waiving digital fund transfer fees alongside its loan relief measures for borrowers hit by the ongoing energy crisis. Villanueva, chairman of the Senate Committee on Banks,...
The Department of Labor and Employment (DOLE) has introduced a digital payment system that streamlines fee transactions and ensures faster, safer payments for clients in the Philippines and abroad. DOLE said the system provides instant payment confirmation, speeds up processing, and guarantees...
Digital payment transactions via PESONet and InstaPay increased by 51.5 percent to ₱2 trillion in June this year, from ₱1.32 trillion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported. This represents a ₱680-billion increase from June 2024, according to the BSP data....
Filipino consumers have become more trusting of digital payment methods, as data from the Bangko Sentral ng Pilipinas (BSP) showed that the value of people’s transactions climbed to more than half of total monthly retail transactions in 2024. According to the central bank’s 2024 report on the...
While several digital banks are interested in securing banking licenses from the Bangko Sentral ng Pilipinas (BSP), only one foreign digital bank has formally submitted an application, offering to plug the credit scoring and other gaps in existing entities. BSP Deputy Governor Chuchi G. Fonacier...
Digital payment transactions via PESONET and Instapay increased by 31.2 percent to ₱1.85 trillion in April, from ₱1.41 trillion in the same month last year. This is equivalent to a ₱440-billion increase from April 2024, according to the latest Bangko Sentral ng Pilipinas (BSP) data....
Digital payment transactions via PESONet and InstaPay increased by over 34 percent to ₱1.65 trillion in Febraury from ₱1.23 trillion in the same month last year. This is equivalent to a ₱420 billion increase from February 2024, according to the Bangko Sentral ng Pilipinas (BSP) data. However,...
(Unsplash) Bicol Saro Party-list Rep. Brian Raymund Yamsuan is urging town and city mayors to link up with the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) in urging small local businesses to use...
The Philippines is experiencing a significant surge in the digital payment sector, according to digital and physical financial solutions provider UnaCash. In a statement, UnaCash revealed that the country ranks second in Southeast Asia for the number of point-of-sale (POS) users aged 15 and older,...
Filipinos may soon opt to pay their miscellaneous fees online as the Bureau of Customs (BOC) partners with the Landbank of the Philippines (Landbank) to use its digital payment system. In a statement, the BOC announced that it inked a memorandum of agreement with Landbank to utilize its...
