MANILA – The Bangko Sentral ng Pilipinas (BSP) has lifted the moratorium on increases in InstaPay and PESONet transaction fees and issued new rules aimed at making electronic payment charges fairer, more transparent, and reflective of actual costs.…
MANILA, Philippines – Senator Joel Villanueva on Thursday urged banks to strictly implement relief measures allowed by the Bangko Sentral ng Pilipinas (BSP), including loan payment grace periods and the waiver of digital transfer fees, amid rising energy…
MANILA, Philippines — Public backlash is growing over parts of the Capital Market Efficiency Promotion Act (CMEPA), particularly provisions on taxing interest from bank deposits. And the Department of Finance (DOF) has pushed back, blaming “fake news”…
Filipinos now prefer digital payments over ATM withdrawals, with InstaPay fund transfers surpassing ATM transactions in both value and volume after the pandemic. According to the Bangko Sentral ng Pilipinas (BSP), InstaPay transactions in September 2024 reached…
Rural and cooperative banks continue to lead in providing loans to micro, small, and medium enterprises (MSMEs), as the Philippine banking industry once again fell short of its lending quota for this key sector. According to the…
The Bangko Sentral ng Pilipinas (BSP) will resume accepting applications for digital banking licenses after three years, allowing more players into the growing industry. The number of available slots is still unknown, but BSP Governor Eli Remolona…
The Philippines experienced disruptions from a global Microsoft outage on Friday, affecting banking and airline services. The state-run Land Bank of the Philippines reported that its digital channels are now restored after the outage, which also caused…
MANDAUE CITY, Philippines — Business establishments within the municipality of Consolacion will soon be required to install closed circuit television (CCTV) cameras. This is after the Consolacion municipal council passed the Comprehensive CCTV ordinance of 2022 of…
LAPU-LAPU CITY, Philippines — The Government Service Insurance System (GSIS) has intensified its campaign to digitalize its services. Jose Arnulfo Veloso, president and general manager of GSIS, said that they were intensifying the campaign to give the…
MANILA, Philippines — Filipinos in Russia may experience some difficulty in sending remittance to their families in the Philippines as major banks there face sanctions following Russian Pres. Vladimir Putin’s order to invade Ukraine, the Philippine Embassy…
I received a hilarious TikTok from someone playing out a scene between a Chinese man and his niece, who was probably around five years old. “Uncle, happy new year,” the toddler chirps, with her hands outstretched holding…
The banking community has asked the public to brace for the sporadic shutdown of some branches and shortened operating hours as a new COVID-19 surge sweeps the country. “In light of the current situation, our member banks…
