As the Philippines navigates the digital age, the financial technology sector is witnessing a major transformation. Recent studies indicated a surge in the adoption of financial mobile apps among consumers. For many Filipinos, the shift to digital finance has made managing money more...
Digital lending platform Digido estimated that roughly one-fifth of Filipinos would still not utilize financial technology (fintech) by the end of this year. In a statement, Digido said that the adoption rate of financial technology through mobile apps in the country is projected to hit 79.5...
Zobel-led Ayala Corporation disclosed that it is paying P22.4 billion for the acquisition of an additional eight percent of Globe Fintech Innovations, Inc. (Mynt), the operator of the GCash platform, from existing shareholders. In a disclosure to the Philippine Stock Exchange providing final...
Mitsubishi UFJ Financial Group (MUFG) and Ayala Corporation are acquiring fresh stakes in Globe Fintech Innovations, Inc. (Mynt), in a deal that more than doubled the valuation of the parent company of GCash to $5 billion (P286.4 billion) from $2 billion in 2021. In disclosures to the Philippine...
The International Finance Corp. (IFC) has acquired a stake in fintech company First Circle for $7 million (about P410 million), to help boost lending to small and medium enterprises (SMEs) in the Philippines. A June 15 disclosure showed that the IFC board approved on June 13 its equity investment...
CEBU CITY – Looking to capitalize on the country’s lucrative financial technology sector, an innovative Vietnamese fintech company is expanding to the Philippines. MFAST founders Phan Thanh Long, CEO, and Phan Thanh Vinh, chairman, announce their company’s expansion to the Philippines....
Silicon Valley-headquartered consumer fintech - Pomelo - announced a total of $115 million in venture capital and expansion fund as it strengthens its digital remittance product globally, that includes the Philippines through the country’s most popular e-wallet GCash. In a statement, Pomelo...
A person cannot be in two places at once, but with technology, President Marcos was able to do just that. HOLOGRAM — President Ferdinand 'Bongbong' Marcos Jr. delivers a speech via a hologram at the opening of the 2023 Singapore FinTech Festival on Nov. 15, 2023. Marcos is currently in San...
Globe Telecom is consolidating its payments-related businesses by selling Electronic Commerce Payments Inc. (ECPay) to subsidiary Globe Fintech Innovations Inc. (Mynt), the parent company of GCash, in a transaction worth P2.31 billion. In a disclosure to the Philippine Stock Exchange (PSE), Globe...
As the leading mobile wallet in the Philippines, GCash is aiming to level up its partnership with the public sector to accelerate the adoption of cashless payments through a year-long workshop series. The fintech player is poised to host the ‘GCash for the Nation’ annual conference and workshop...
There are certain places and events that require a specific type of attire. For example, if you’re attending a wedding, the couple might say that you should wear “formal” clothes or that the dress code is “black tie.” Fortunately, “formal” and “black tie” are easy enough to...
The new leadership at the Cagayan Economic Zone Authority (CEZA), which administers the Cagayan Special Economic Zone and Freeport (CSEZFP), is looking at new investment potentials in agriculture, manufacturing and logistics to diversify its current investment portfolio beyond interactive gaming...
