A resolution seeking an official investigation on the recent spate of unauthorized transactions, scams and other irregulariteis involving GCash and other mobile financial services has been filed in the Senate. Senate deputy minority leader Risa Hontiveros, in filing Senate Resolution No....
The International Finance Corporation (IFC) has invested $7 million in fintech firm First Circle to expand digital financial services for small and medium-sized enterprises (SMEs) in the Philippines. The IFC board approved the project on June 13, signed on June 28, and invested the...
BillEase, a local digital consumer finance platform, has secured an investment from The Rise Fund, a multi-sector initiative under Texas Pacific Group’s (TPG) global impact investing strategy. In a statement on Tuesday, Sept. 3, BillEase chief Executive Officer Georg Steiger said that this...
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...
