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...
Local banks are in the sights of global fintech platforms provider, Intellect Design Arena, which targets the Philippines as a lucrative "strategic market". Over the short term, in just in a couple of years, the company expects to haul in $10 million revenues per annum, around P546 million, from...
TECH4GOOD Monchito Ibrahim The rapid digitalization of everything we do today is fast changing the country's financial inclusion landscape. Although the share of the unbanked population in the country is still one of the highest in the Asia Pacific region according to Statista research, the...
BayaniPay, a Los Angeles-based Filipino fintech company, targets to get 20 percent of the $146 billion global market for Filipino remittances in three years, CEO Winston Damarillo told reporters. Already, BayaniPay is the first cross-border digital financial service for the 4.2 million strong...
(L-R) Ann Cuisia, President and CEO, digiCOOP; David Almirol, Jr., Undersecretary for e-Government, Department of Information and Communications Technology (DICT); Io Guballa, Business Lead for Banking Services, UBX; Albert Tinio, Co-CEO and Chief Commercial Officer, GoTyme Bank; and Edison Tsai,...
