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News and Events

Mobile Payments Duel Between WeChat and Alipay Coming to PH

The two Chinese firms now hold stakes in the country's largest mobile payment platforms

Listed telecommunications firm PLDT Inc. has announced that its digital technology arm, Voyager Innovations, will be taking in investments worth up to $175 million (Php9.5 billion) from a group of investors led by Chinese tech giant Tencent Holdings and global private equity ...

by Lorenzo Kyle Subido  | October 05, 2018 04:00:00
News and Events

Mirroring Giant Telcos: Is a Duopoly Emerging in Digital Payments Too?

A BSP study uncovers the electronic money issuers leading the race for consumer awareness

Only 1.3 percent of the country’s adult population, which translates to around 900,000 Filipino adults, have an electronic money (e-money) account, according to the Bangko Sentral ng Pilipinas (BSP).In its 2017 Financial Inclusion Survey, the BSP defines e-money accounts as “a transactional ...

by Lorenzo Kyle Subido  | July 13, 2018 01:00:00
News and Events

How GCash and PayMaya are Trying to Wean Pinoys from Cash and Shift to Digital Payments

The two telco-backed e-wallet platforms turned to key partners to make big strides in 2017

“Philippines—I think you have the opportunity to make the world’s best fintech, because you have so many mobile phones, more than 7,000 islands. We should make Philippines a cashless society. When you have a cashless society, [there is] no corruption. Life is ...

by Lorenzo Kyle Subido  | January 02, 2018 09:00:00
News and Events

Guess How Many in the Philippines are Using Bitcoin and Other Cryptocurrencies?

PH is second only to Indonesia in virtual currency adoption among five developing ASEAN countries

Compared to its Southeast Asian neighbors, the Philippines has been relatively more open to using Bitcoin and other cryptocurrencies, according to a report in FT.com, the Financial Times newspaper’s online site.In an article published last December 6 titled “Southeast Asia ready to ...

by Lorenzo Kyle Subido  | December 08, 2017 02:00:00
News and Events

PH Retailers Can Now Accept Cashless Payments from Chinese Tourists Through WeChat Pay

The Chinese mobile payments platform partners with Asia United Bank to bring its services to the Philippines

Philippine commercial bank Asia United Bank (AUB) has signed a licensing agreement with Chinese technology giant Tencent to bring the latter’s mobile payments system WeChat Pay to the Philippines, allowing Chinese tourists to use the app in purchase items from Philippine stores ...

by Lorenzo Kyle Subido  | November 23, 2017 06:00:00
News and Events

After Warning Vs Cryptocurrencies for Years, Bangko Sentral Grants First-Ever E-Money License to a Bitcoin Startup

Policy turnaround reflects regulators view that virtual currencies can boost financial inclusion

Bitcoin-enabled fintech platform Coins.ph announced it has been granted an Electronic Money Issuer (EMI) license by the Bangko Sentral ng Pilipinas (BSP), making it the first blockchain startup in Asia to win such a license from monetary regulators, it said in a ...

by Elyssa Christine Lopez and Lorenzo Kyle Subido  | November 20, 2017 02:00:00
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