Mindful of his father's legacy, Davao City 1st district Rep. Paolo Duterte is pursuing the passage of a bill that would provide overseas Filipino workers (OFWs) discounted rates on remittance fees. Davao City 1st district Rep. Paolo Duterte (left) and former president Rodrigo Duterte (Rep....
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...
A House leader wants to institutionalize in the 19th Congress a 50 percent reduction on the fee imposed on overseas Filipino workers' (OFWs) money remittances. OFWs at the Ninoy Aquino International Airport (Ali Vicoy/ MANILA BULLETIN) This benefit is the main feature of House Bill (HB) No. 185,...
Remittances in the Philippines have long been dominated by offline players in brick-and-mortar stores and cash pick up locations, but as social distancing came into effect as a result of the COVID-19 pandemic, the market, particularly the recipients shifted towards the realm of digital or online...
73085 The Philippine Ports Authority (PPA) remitted P4.08 billion dividend payment to the Department of Finance, announced General Manager Jay Daniel R. Santiago. The amount remitted Monday, March 21, represents 60 percent of PPA’s P6.79 billion net income for 2021 and is 8.5 percent higher than...
To serve overseas Filipino workers (OFWs) and their families better, mobile wallet, GCash teamed up with TNG Wallet, a P2P mobile remittance app in Hong Kong. "We are continuously adding new leading remittance partners to the app’s network so GCash users can now have access to TNG Wallet and more...
For more than six decades, one of the country’s leading pawnshops, Villarica has continuously served the Filipino public with a host of services that have evolved with the changing, and digital, times as well as the needs of the Filipinos. Boasting of having one of the highest, if not the highest...
21518 Mobile wallet and digital payment solutions provider GCash is extending its new remittance service feature, ‘GCash Padala’, to over 40 million active consumers as well as non-app users. Filipinos without any e-wallet accounts can now receive money in real time anywhere in the Philippines...
Senator Grace Poe has called on banks, money transfer companies and regulators to increase their efforts in protecting the remittances of overseas Filipino workers (OFWs). (Jansen Romero/MANILA BULLETIN File Photo) “The remittances are crucial to the survival of families of OFWs and play an...
Cash remittances sent home by Overseas Filipinos increased by 6.3 percent year-on-year as of end-May to $12.280 billion from $11.554 billion in 2020, the Bangko Sentral ng Pilipinas (BSP) reported Tuesday. For the month of May only, cash remittances which are transferred via banks and are easily...
Cash remittances or fund transfers sent via the banking system reached $7.593 billion as of end-March, up by 2.6 percent year-on-year or from $7.403 billion, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. “This is the second consecutive month that remittances were higher than last...
The Philippine Ports Authority (PPA) remitted over P17 billion in dividends to the National Government (NG) from 2016 to 2020, more than double the total dividends it remitted in the half decade before the present administration. As of the end of last year, the agency's P17.17 billion total...
