Established in 2010, the Bangko Sentral ng Pilipinas-regulated digital payment platform has been around for 14 years, helping Filipinos have a secure and hassle-free payment transaction. At the Digital Pilipinas Festival 2023, Robertson Chiang, founder and CEO of Dragonpay, sha...
The Bangko Sentral ng Pilipinas (BSP) is launching its new digital payments in the Philippines with its new Request to Pay (RTP) and Direct Debit services. BSP Deputy Governor Mamerto Tangonan announced the RTP Cash-In Service will launch in the second half of this year. This service lets ...
Additionally, the bank provides convenient bill payment options, allowing users to settle their bills and utilities without hassle. For those in need of credit, OFBank offers various loan products suitable for personal or business purposes. Furthermore, the bank provides savings and time deposit ...
Payments Measurement, the share of digital payment transactions in the Philippines has surged from 42.1% in 2022 to 52.8% in 2023. This accomplishment surpasses the central bank’s goal of digitalizing 50% of retail payments by 2023, as outlined in its Digital Payments Transformation Roadmap ...
Domestic payment services such as GCash and Maya are explicitly targeting remittance transactions, disrupting the established model of brick-and-mortar service providers.Each year, about $30.5 billion in remittances flows into the Philippines, yet traditional banks have not systema...
Digital payment has grown commonplace in the Philippines "Once people start to tell other people that you can rely on this, then more and more people will use it,” Puno predicts. “It will change how banking is done in the Philippines… [but] we don't know when that moment will happ...
These payments work through the blockchain, a system that records financial transactions that aren't government-controlled or operated by large financial institutions and central banks. The biggest downside to crypto is that it is more complex than other digital payment methods because not everyone ...
The Bank of Indonesia (BI) developed this system to encourage communication among various payment system providers and improve the efficiency and accessibility of SMEs that want to expand their outreach. QR code payments are extensively used for both in-store and online transactions. E-wallets and ...
Looking ahead, financial inclusion must continue to be a primary policy objective amongst governments, banks and corporations to ensure greater socio-economic development. Standard Chartered is committed to this and has invested in payment innovations that are relevant and adaptable to each market. For...
In May 2011, Alipay China was one of the first companies to receive a payment business license from the People's Bank of China. It developed Quick Pay, barcode payment, smile-to-pay and QR code payment solutions to serve the digital payment needs across a vast array of use cases, ...