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 cashless...
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...
MALUNGON, Sarangani – Residents and business entrepreneurs from this municipality can now pay for dues to the local government faster online through the digital payment facility of the Land Bank of the Philippines (Landbank).MALUNGON Mayor Maria Theresa Constantino (second from right), Vice Mayor...
A more purpose-led banking experience
At this point in its history, the banking and financial sector is at a crossroads. Filipinos now embrace online payment options more than ever before, while banks continue leveraging technology to ensure seamless transactions. Digital payment methods, for...
Bus commuters going to Northern and Central Luzon can now do cashless purchase of tickets or payment for cargo deliveries after Victory Liner, one of the country's largest transportation firms, partnered with digital financial services platform PayMaya.
Victory Liner taps PayMaya for safe and...
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Homegrown fintech startup NextPay expands its digital payment solutions with Email Money, allowing users to transfer cash to any bank or e-wallet via email with no need for the recipient’s account details.
By removing the need to collect and manage recipient’s bank details,...
Electronic wallets are now a multi- trillion peso business for players PayMaya and GCash, thanks to the pandemic which forced Filipinos to go cashless.
All of a sudden, in the last two years, digital payments and e-commerce boomed as previously unbanked Filipinos became e-wallet users for...
Payments infrastructure startup Xendit has become a Southeast Asian unicorn, securing $150 million Series C funding, after its Philippines launch last year.
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Tiger Global Management led the round and existing investors - Accel, Amasia, and Justin Kan’s Goat...
Mobile wallet app GCash and Airasia Philippines have partnered to allow travelers to pay digitally for flight, hotel bookings and travel retail items.
Customers can pay for their Airasia plane fare and accommodation in partner hotels using the GCash apps on their mobile phones.
They can...
The volume of digital payments in the country rose to 17 percent of all payment transactions as of mid-2020, and closer to the 50 percent cash-lite target of the Bangko Sentral ng Pilipinas (BSP) by 2023.
The share of monthly digital payments in terms of volume has been steadily increasing from...
