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BIR eyes increasing epayments by 50 percent in 2022

ABS-CBN News
Updated as of Jan 03 09:35 AM

The Bureau of Internal Revenue said on Monday it aims to increase digital payment transactions to 50 percent in 2022 by accelerating modernization efforts. Read more »

Rural banks urged to use technology to stay competitive

ABS-CBN News
Posted at Dec 01 03:40 PM

Rural banks should tap technology to remain competitive in the new normal and to help boost financial inclusion in the countryside, the Bangko Sentral ng Pilipinas said Wednesday. Read more »

QR tech paving way for 'cash-lite' economy: BSP

ABS-CBN News
Posted at Oct 13 02:49 PM

The QR Ph Person-to-Merchant payment facility will pave the way for a "cash-lite" economy, the Bangko Sentral ng Pilipinas said Wednesday. Read more »

PayMaya offers cashback for bills payments this May

ABS-CBN News
Posted at May 10 02:46 PM

PayMaya said users who settle two bills worth at least P1,500 each will automatically get a P50 cashback. Read more »

BSP's digital dream: Electronic payments for sari-sari stores, tricycle drivers

ABS-CBN News
Updated as of May 07 10:52 AM

Part of the Bangko Sentral ng Pilipinas' digital transformation roadmap is to penetrate the micro level in terms of digital payments, Deputy Governor Mert Tangonan said Friday. Read more »

Mga tumatangkilik sa digital payment dumarami

ABS-CBN News
Posted at May 04 10:01 PM

Kasabay ng pandemya, dumami rin ang tumangkilik sa digital at electronic payments sa bansa. Read more »

BSP creates unit for physical money, digital payments ecosystem

Warren de Guzman, ABS-CBN News
Posted at Feb 24 04:18 PM

A unit tasked to manage the ecosystem of physical money and digital payments has been established in the Bangko Sentral ng Pilipinas, the bank said Wednesday. Read more »

Pacquiao to roll out payment platform 'PacPay' in 2021

ABS-CBN News
Updated as of Dec 13 09:50 PM

Boxing superstar and Senator Manny Pacquiao is setting up a new digital venture which he says will help overseas Filipino workers with their financial transactions. Read more »

What is Jack Ma’s Ant Group and how does it make money?

Alison Tudor-Ackroyd and Chad Bray, South China Morning Post
Updated as of Oct 28 05:39 PM

China’s digital payments transaction volume is expected to increase to US$61 trillion by 2025. Consumers and small businesses’ credit balance in China could swell to US$7.45 trillion by 2025. Ant has only tapped 4 percent of this market so far. Read more »

US central bank unveils alternative to Facebook's Libra

Agence France-Presse
Posted at Aug 07 09:19 AM

Noting security concerns posed by Facebook's digital currency Libra, the Federal Reserve on Thursday revealed details of its own instant payments system. Read more »

Cebuana Lhuillier offers web and app-based remittance service

ABS-CBN News
Updated as of Jul 13 11:27 AM

Cebuana Lhuillier on Thursday said it has launched a new service that allows clients to send money using its website and its app as financial transactions shift to digital amid the COVID-19 pandemic.  Read more »

Citi offers new cashless option with PayAll

ABS-CBN News
Updated as of Feb 18 05:33 PM

Citi customers can pay for rent, professional fees, tuition and membership dues as well as select insurance payments with their credit cards by tapping Citi PayAll in the bank's mobile app, Citi Philippines banking head Manoj Varma said.   Read more »