65270 As demand for digital financial solutions skyrocketed in the pandemic, local open finance platform UBX quintupled its revenues last year and expects to sustain its growth momentum in 2022. In 2021 alone, UBX hauled in P20 billion in annual gross transaction value serving over 200,000 business...
More than 71% of Filipinos remain unbanked and have zero access to financial services, based on the 2019 survey of the Bangko Sentral ng Pilipinas (BSP). This unbanked sector includes aspiring entrepreneurs and MSMEs resulting in their inability to secure funding and support to expand their...
Logo Homegrown fintech startup NextPay, which was launched in the middle of the 2020 pandemic, posted more than P1 billion in total transactions in 2021 and expects to continue its growth momentum this year. “The year 2021 was a banner year for NextPay. From being part of the Y Combinator Program...
Have you ever heard of ‘financial stress?’ According to experts, this condition refers to that state of anxiety or emotional tension related to money, debt, and expenses. Money, in fact, is one of the most universal sources of stress. Financial stress has been found as one of the main concerns...
The Open Finance system and the comprehensive finance API platform stand to revolutionize the growth of the MSMEs in the Asia-Pacific region, specifically the Philippines. Its forecasted trajectory of growth can be instrumental to finally providing financial access to the underserved and...
Editorial Government trained its sights last week on financial technology (or ‘fintech’) companies as the Secretary of Finance instructed the Bureau of Internal Revenue (BIR) and the Securities and Exchange Commission (SEC) to ensure that these are properly regulated and taxed while encouraging...
The Department of Finance (DOF) wants financial technology (Fintech) companies in the country to be properly regulated and taxed while encouraging the sector’s growth and continued innovation. In a statement, DOF Secretary Carlos G. Dominguez III said Tuesday, Nov. 16, that he has tasked the...
Local financial technology platform Cashalo has kicked off its Visayas- Mindanao expansion through the launch of Shop Now, Pay Later service in Cebu. Photo 2 Cashalo partnered with Robinsons Department Store-Fuente Cebu, Robinsons Department Store-Galleria Cebu, Gear Up-Jakosalem Cebu, Spyder-SM...
Independent player Seaoil Philippines is innovating on a ‘price hedging strategy’ that will allow its business and retail customers to save on their fuel budgets despite the astronomical rise of prices of oil commodities in the world market. Through its tie-up with fintech company LOCQ OPC,...
Payments infrastructure startup Xendit has become a Southeast Asian unicorn, securing $150 million Series C funding, after its Philippines launch last year. XENDIT-LOGOArtboard-1@2x Tiger Global Management led the round and existing investors - Accel, Amasia, and Justin Kan’s Goat Capital, also...
Silicon Valley's HyperVerge, one of the world’s largest identity verification firms, has expanded operations in the Philippines, seeing the country as the new growth center in Southeast Asia. Hyperverge_horizontalLogo_Bearddesign "Currently, we are working with three large financial institutions...
Homegrown fintech startup NextPay, raised over P80 million (US$1.6 million) in seed funding from international and local investors to develop more digital financial services for the country's underserved small businesses. Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund led...
