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BSP backs measure for protection vs cybercrime

ABS-CBN News
Updated as of Sep 25 10:42 AM

The Bangko Sentral ng Pilipinas (BSP) on Saturday said it supports a Senate measure that aims to protect financial customers from cybercrime. Read more »

House approves 12% VAT on digital transactions

ABS-CBN News
Posted at Sep 21 11:35 PM

The House of Representatives has approved House Bill 7425, imposing a 12 percent value-added tax on digital transactions in the Philippines. Read more »

Lyka: Merchants not accepting GEMs just temporary

ABS-CBN News
Posted at Aug 28 06:41 PM

Lyka allows users to purchase, exchange and use "gift cards in electronic mode", or GEMs, as payment for goods and services. Read more »

Catching up to digital transactions

Nium
Updated as of Nov 24 09:18 AM

Nium Global Head of Consumer and SME Business Yogesh Sangle shares his thoughts on the impact of the health crisis on the financial technology space. Read more »

What is next for Fintechs?

NIum
Updated as of Nov 24 09:16 AM

Digital payments are seeing an increase worldwide due to necessity but what does this mean for Fintechs? Nium Global Head of Consumer and SME Business Yogesh Sangle shares his outlook for the market. Read more »

PH officials warn public vs money launderers exploiting digital transactions

ABS-CBN News
Posted at Nov 21 02:48 AM

Philippine officials warn money launderers may be exploiting the surge in digital transactions during the COVID-19 pandemic. Amid this trend, some of the country’s biggest banks are launching an industry-wide initiative to combat online fraud. Read more »

Can't 'impose' on banks to waive online transfer fees as BSP tells consumers it's cost of 'convenience'

ABS-CBN News
Updated as of Oct 05 12:02 PM

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday they could ask but not order or impose on banks to waive fees for online money transfers as this forms "part of their business." Read more »

Practice 'cyber hygiene' in digital transactions, BSP tells consumers

ABS-CBN News
Updated as of Aug 05 02:43 PM

The Bangko Sentral ng Pilipinas said Wednesday consumers should practice "cyber hygiene" when doing financial transactions online as reported incidents continue to rise. Read more »

Tax digital services? That's part of business, says DTI chief

Arianne Merez, ABS-CBN News
Updated as of Jul 31 02:52 PM

Paying taxes is part of doing business--even if its online, Trade Secretary Ramon Lopez said Friday after a legislative panel approved a bill that seeks to impose tariffs on digital transactions.   Read more »

Komite sa Kamara inaprubahan ang pagbubuwis sa digital transactions

ABS-CBN News
Posted at Jul 29 04:23 PM

Maaari ring buwisan sa ilalim ng panukala ay ang tinatawag na digital service o anumang serbisyo na ibinibigay o sinu-subscribe-an sa internet o iba pang electronic network. Read more »

Netflix, Facebook, Google tax? House committee OKs 12 percent VAT on digital transactions

ABS-CBN News
Updated as of Jul 29 02:59 PM

Under the bill, VAT shall be imposed for online transactions including those that are "digital or electronic in nature" and those that render service "electronically." Read more »

'Cashless' is king? Pandemic gives rise to 'e-numan,' virtual communities

Liza Reyes and Jessica Fenol, ABS-CBN News
Updated as of Jul 26 11:02 PM

More consumers embraced digital practices, which meant setting aside “physical cash” in favor of mobile wallets. Read more »

COVID-19 pandemic highlights 'increasing importance' of digital transactions: BSP

Jessica Fenol, ABS-CBN News
Posted at Jul 08 01:27 PM

The lockdowns imposed to curb the spread of COVID-19 have given electronic payments a boost, Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Wednesday.   Read more »

How contactless payments work and how it can help us today

Moneymax.ph
Updated as of Jun 24 05:01 PM

Learn more about how contactless payments work and how they can help you in the new normal.  Read more »

Tax memo aims to 'remind,' not 'go after' online sellers, says DOF

ABS-CBN News
Updated as of Jun 12 11:53 AM

The Department of Finance said Friday it was not running after small sellers when the tax bureau issued a memorandum reminding those who transact online to register and pay for taxes. Read more »

BIR tells online sellers: Register, pay taxes

ABS-CBN News
Posted at Jun 11 09:22 AM

Online sellers should settle their taxes and register with the Bureau of Internal Revenue, it said Wednesday as electronic commerce boomed during the coronavirus pandemic. Read more »

Digital payments to sustain growth post-pandemic: PayMaya

ABS-CBN News
Posted at Jun 09 11:15 AM

PayMaya said Tuesday it expected to grow its user base by a "fairly large number" this year as more people go cashless to comply with pandemic restrictions.   Read more »

Study shows digital payments skyrocketed in PH

ABS-CBN News
Posted at Dec 02 11:38 PM

The Bangko Sentral ng Pilipinas is confident of hitting bigger growth targets for the country's e-payments transformation after a study shows monthly digital transactions in the Philippines skyrocketed in 2018. Read more »