GCash now has more than 60 million registered users. GCASH — The Ayala-led fintech company said on Tuesday that it has reached a milestone with more than 60 million registered users nationwide. GCash president and CEO Martha Sazon, who was recently recognized as a Master Innovator for Digital Transformation Innovation during the 2nd Annual Mansmith … Read more
BPI CEO: “BPI will capitalize on the strength of our brand, our significant presence plus a robust digital platform to compete.” BPI — The president and CEO of the Bank of the Philippine Islands said that the bank is prepared to compete with digital banks and fintech (financial technology) companies. On Thursday, BPI President and … Read more
NextPay was looking to expand its offerings to include crypto services. NEXTPAY — The financial technology startup was looking to expand its offerings to include cryptocurrency services in a bid to sustain growth after recording PHP 1-billion worth of transactions last year. NextPay Chief Experience Officer and Co-Founder Aldrich Tan said that the fintech company … Read more
Banks and fintech companies will freeze the accounts of text scammers, according to NPC. NPC — The National Privacy Commission said that banks and financial technology (fintech) companies will freeze the accounts of text scammers. According to a report on Inquirer, NPC Chair Raymund Liboro said in a phone interview that banks and fintech firms … Read more
The DOF wanted fintech companies to be “properly” taxed and regulated. DOF — The Department of Finance wanted fintech companies in the Philippines to be properly taxed and regulated while urging the sector’s growth and continued innovation. On Tuesday, DOF Secretary Carlos G. Dominguez III said in a statement that he has tasked the Bureau … Read more
The BIR will strengthen tex regulations as fintech usage grows, according to DOF. DOF — The Department of Finance said on Friday that the Bureau of Internal Revenue (BIR) will strengthen tax regulations for the financial technology (fintech) industry as online transactions continued to gain traction during the pandemic. Revenue Deputy Commissioner Marissa Cabreros recently … Read more
The BIR encouraged fintech companies to register and pay taxes. BIR — The Bureau of Internal Revenue encouraged financial technology (fintech) companies to register and pay their taxes in order to avoid tax evasion charges. BIR Commissioner Caesar R. Dulay recently made the appeal following reports that many of those financial technology companies have yet … Read more