Online gaming firm DigiPlus Interactive Corp. has expanded secure and convenient wallet-loading options for its players by forming a partnership with BTI Payment Philippines, which owns the Pay&Go self-service payment kiosks across the country. In a statement, Digiplus said the new payment...
A bill seeking to prohibit the eviction of tenants during a declaration of a state of calamity or emergency is now being pushed in the Senate. Sen. Sherwin Gatchalian, in pushing for Senate Bill No. 1109, or the proposed “Rental Payment and Eviction Moratorium during Disasters and Emergencies...
Philippines insurance penetration remains stubbornly low despite the country’s rising financial vulnerabilities and exposure to natural catastrophes, according to an executive at Singlife Philippines. Lester Cruz, Singlife Philippines chief executive officer, said affordability, access, and...
The Philippine Health Insurance Corporation (PhilHealth) announced on Monday, September 8, that it has fulfilled its promise of faster claims processing under its newly launched Guaranteed Access to Medicines and Outpatient Treatment (GAMOT) program, releasing its first payment ahead of the 15-day...
Mobile payment providers Apple Pay and Google Pay will not need to register with the Bangko Sentral ng Pilipinas (BSP) if they plan to enter the Philippine market, as the central bank does not qualify them as operators of payment systems (OPS). BSP Deputy Governor Mamerto Tangonan stated that the...
The Department of Transportation (DOTr) will grant free rides to commuters who faced system issues during the trial run of the cashless payment system at Metro Rail Transit Line 3 (MRT-3) beginning Monday, Aug. 4. In a statement, the DOTr said it will provide free single journey tickets following...
Banks are set to move away from serving only clients of their affiliated insurers, as the Bangko Sentral ng Pilipinas (BSP) is rolling out amended bancassurance guidelines that will allow third-party insurers to sell their products to banks’ customers. “A draft circular amending the...
Digital payment transactions via PESONet and InstaPay increased by 51.5 percent to ₱2 trillion in June this year, from ₱1.32 trillion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported. This represents a ₱680-billion increase from June 2024, according to the BSP data....
Filipino consumers have become more trusting of digital payment methods, as data from the Bangko Sentral ng Pilipinas (BSP) showed that the value of people’s transactions climbed to more than half of total monthly retail transactions in 2024. According to the central bank’s 2024 report on the...
While several digital banks are interested in securing banking licenses from the Bangko Sentral ng Pilipinas (BSP), only one foreign digital bank has formally submitted an application, offering to plug the credit scoring and other gaps in existing entities. BSP Deputy Governor Chuchi G. Fonacier...
Digital payment transactions via PESONET and Instapay increased by 31.2 percent to ₱1.85 trillion in April, from ₱1.41 trillion in the same month last year. This is equivalent to a ₱440-billion increase from April 2024, according to the latest Bangko Sentral ng Pilipinas (BSP) data....
The Philippines’ balance of payments (BOP) deficit widened to $2.6 billion in April 2025, driven mainly by a larger trade in goods deficit and the government’s withdrawal of US dollar stock to settle foreign debt payments. According to the Bangko Sentral ng Pilipinas (BSP), the deficit in April...
