Cotabato City is now part of the Paleng-QR Ph Plus program of the government that promotes digital payments through quick response (QR) codes in markets and public transport hubs. The program launch was led by Cotabato City Mayor Mohammad Ali “Bruce” D. Matabalao, Bangko Sentral ng Pilipinas (BSP) Mindanao Regional Office (MRO) Director Judith G. […]
The Digital Pilipinas Festival x Festival of Festivals events are set to be monumental events for the ASEAN digital landscape. Scheduled to run from November 20 to 24, 2023, at the SMX Aura Convention Center in Taguig, these festivals are not just ordinary gatherings — they are the epicenters of the digital revolution now reshaping […]
Earlier this week, a Memorandum of Agreement for the “Cashless Expo 2023,” the first of its type in the Philippines, was signed between the Bangko Sentral ng Pilipinas (BSP) and the Department of Trade and Industry (DTI). Once formed, the first-ever “Cashless Expo” is anticipated to allow more micro, small, and medium-sized enterprises (MSMEs) to […]
A number of enterprises in the Philippines, especially small startup businesses, are now taking advantage of the unique benefits that Bitcoin and other forms of cryptocurrency can bring. According to Ethan Rose, the CEO of Pouch.ph, “One of the significant challenges now faced by small businesses is the limited availability of payment methods, with credit […]
In an effort to increase coin circulation nationally, the Bangko Sentral ng Pilipinas (BSP) and its retail partners recently installed Coin Deposit Machines (CoDM) in various mall outlets throughout the country. The initiative aims to persuade the public to conveniently deposit their unneeded coins at exchange facilities that are conveniently positioned in a few malls. […]
The City of Victorias in Negros Occidental recently launched the “Paleng-QR Ph Plus” in ceremonies held at the Victorias City Commercial Center and Public Market last July 11, 2023. During the event, Victorias City Mayor Javier Miguel L. Benitez was joined by Bangko Sentral ng Pilipinas (BSP) Monetary Board Member V. Bruce J. Tolentino, and […]
For brief periods, the Bank of the Philippine Islands (BPI) would forgo transfer costs for modest InstaPay transactions conducted using its mobile application. Fees for a cartload of groceries worth up to P1,000 is already free if paid using BPI’s mobile app According to a news story posted on its website, no costs will be […]
Physical restrictions have been put in place during the epidemic to prevent people from becoming infected; as a result, mobile e-wallets and digital banks that facilitate cashless payments have arisen and become extremely popular among Filipinos. Three years later, despite the removal of restrictions, digital payments are still popular. Most recently, Felipe M. Medalla, governor […]
by Bhea Baarde, Correspondent Starting next year, financial institutions will be required to digitalize the majority of their payment options and financial services as part of the Bangko Sentral ng Pilipinas (BSP)’s Digital Transformation Roadmap, which aims to promote financial inclusion and digitalization of payments in the country. Of all the financial service providers here […]
“We believe that e-commerce is here to stay and will grow exponentially!” Thus, exclaimed Mary Jean Pacheco, assistant secretary of the Department of Trade and Industry (DTI), in a speech delivered at a forum titled, “E-commerce: Turning heavy traffic into a positive.” Also joining her at the forum are Ron Benito, Founder and CEO of […]
