As regulators encourage new players to enter the digital banking sector in the Philippines, banks that take the initiative can gain an early advantage.
In Asia, credit cards still have a stranglehold in developed economies like Japan (57%), South Korea (56%) and Singapore (42%). However, developing countries like Indonesia (40%), the Philippines (34%) and Vietnam (36%) prefer digital wallets to other modes of payment. "Many of ...
Choose a region: Philippines The coronavirus pandemic prompted a noticeable shift to digital payments in the Philippines. Even after restrictions were lifted, cashless transactions are here to stay, as Filipino consumers continue to opt for mobile wallets and card-based payments to complete their onlin...
Martha Sazon:In the Philippines, internet adoption was fast because of smartphone ownership. We circumvented the computer and went straight to mobile. A similar thing is happening with e-wallets: their role has evolved from being just for payments. People have become very creative ...
digital channels to send money to their loved ones, especially in countries where traditional brick-and-mortar remittance channels have been disrupted. Mobile wallets, online money transfer platforms, and blockchain-based solutions are among the popular digital remittance options being adopted by ...
wallets,commonly designed as mobile-first, keep tokens that link to your credit and debit cards instead of storing sensitive data or money directly. They don’t take part in moving funds. Once a transaction is initiated, such apps just pass encrypted information to a merchant — hence, the ...
Tech Pilipinas is the Philippines' digital lifestyle and technology magazine, helping millions of Filipinos keep up with the challenges of the fast-paced, ever-changing world of technology.
If you have applied for an NBI clearance, made digital payments from major online banks, or even just used e-wallets like Maya and GCash, you probably have encountered Dragonpay. Established in 2010, the Bangko Sentral ng Pilipinas-regulated digital payment platform has been...
"The race to win a greater share of consumer digital wallets is intensifying – and banks and fintechs are taking the lead with expanded offerings of insurance products to deepen customer relationships, drive growth and narrow the protection gaps of their customers," saidSean Ringsted, Chubb's ...
Israeli banks in recent years launched digital wallets, which are applications on the cellphones that enable the user to transfer money to each other with a few clicks on the phone. "Banks will have a very significant role in the future, and the banks already have a relationship with the ...