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...
Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group...
Financial technology (fintech) companies in the Philippines are poised to overtake brick and mortar banks, debt-watcher Moody’s Investors Service said. In a commentary on Thursday, July 15, Joyce Ong, Moody’s analyst said that fintech has “abundant room” for growth in the country as 70...
Tech firm Voyager Innovations raised US$167 million (P8.15 billion) to establish a digital bank via its financial technology arm, PayMaya Philippines (PayMaya). Existing shareholders PLDT Inc., global investment firm KKR and leading Chinese tech firm Tencent participated in the fund-raising, which...
