OwnBank Shifts to Digital, Phases Out Cash Transactions
OwnBank is phasing out cash transactions, with all other app features remain operational.
Bureau of Treasury, PDAX, GCash to Launch GBonds in December
The Bureau of the Treasury, in partnership with GCash and PDAX, is set to launch GBonds in December.
BSP to Require Digital Banking License for Banks Acting Like One
BSP targets a total of 10 digital banks operating in the Philippines under the Digital Banking Framework.
Globe CEO Says GCash Targets IPO ‘Sometime in 2025’
Is GCash going to consider a dual listing in the U.S.?
BSP Approves Local E-wallet GCash’s Overseas Expansion
Overseas users can now send money for free (GCash-to-GCash), pay bills, and instantly purchase load credits with minimal effort on the app.
Update: GCash IPO Targeted At “Opportune Time”
Boasting over 80 million users, the company is strategically positioning for global expansion.
BIR Implements 1% Withholding Tax to Online Sellers
BIR implements a 1% withholding tax on gross remittances by e-marketplace operators to online sellers. Exemptions for low-earning sellers.
Financial Inclusion Survey Clearance to Conduct Granted
The Philippine Statistics Authority said it has granted the Bangko Sentral ng Pilipinas to conduct the 2019 Financial Inclusion Survey (FIS) on January 8, 2020 in partnership with The Nielsen Company Philippines, Inc.
Fintech Transactions Expected to Double in 2022
The 2019 Genomre Report cited that the Philippines’ fintech market is projected to reach $10.5 billion by 2022.
BSP to Fintech Firms: Go Beyond Payment Solutions
A robust payment solution is important for financial inclusion, and many fintech firms are providing ways to tackle that specifically. However, it is time that fintech firms focus on the supply chain for the benefit of micro, small, and medium enterprises, said a Bangko Sentral ng Pilipinas (BSP) officer.