GCash partnered with the Philippine Stock Exchange (PSE) and AB Capital GCASH — The Ayala-led fintech company partnered with the Philippine Stock Exchange (PSE) and AB Capital to let app users invest in the stock market through the app. Along with GCash President Martha Sazon and other officials, PSE President Ramon Monzon made the official … Read more
NextPay said that it is looking at rolling out lending, bills payment, corporate cards services. NEXTPAY — The country’s financial technology (fintech) startup said that it is looking at rolling out lending, bills payment, and corporate card services. The company has announced plans to introduce more financial tools and services tailored for MSMEs (micro, small, … 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
The Philippines may harness the benefits of the proposed SIM Card Registration Act, according to NPC. NATIONAL PRIVACY COMMISSION — The NPC said that the Philippines may benefit from the proposed SIM Card Registration Act. According to NPC Commissioner Raymund E. Liboro, the approval of the proposed bill came at a time of rapid digitalization … 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
GCash has no plans of applying for a digital banking license, according to Mynt. MYNT – The head of Globe’s fintech arm said on Monday that GCash has no plans of applying for a digital banking license like the company’s main competitor. This, as it preferred to remain a platform for other financial institutions instead … 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