New payment mechanism for power ancillary services ready
The Department of Energy is soliciting stakeholders’ comments for its plan to adopt the so-called Causer Pays Mechanism......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
India s neighbors adopt its digital payment system
New Delhi has launched its Unified Payment Interface in Sri Lanka and Mauritius, bolstering its influence in the region The leaders of India, Mauritius, and Sri Lanka have virtually launched New Delhi's Unified Payment Interface (UPI) system. The move allows Indian tourists to pay with the app while visiting t.....»»
BSP issues guidelines for payment systems
The Bangko Sentral ng Pilipinas (BSP) has released its first Manual of Regulations for Payment Systems (MORPS), a formal compilation of all payment system regulations approved by the Monetary Board as of end-December 2023......»»
Davao LGU to meet with vendors after video of goods’ confiscation went viral
DAVAO CITY (MindaNews / March 25) – The Ancillary Services Unit (ASU) will meet again with vendors after a viral video of cellphone casing merchandise they confiscated near the new Agdao Public Market went viral on social media. “We’ll have a meeting together with the Davao City officials regarding the viral video. We will also […].....»»
Palawan Group of Companies and SB Corporation join forces for enhanced payment solutions
The Palawan Group of Companies, a trusted leader in pawning and financial services, has strengthened its strategic partnership with Small Business Corporation (SB Corp.) to enhance payment solutions for micro-, small, and medium enterprises (MSMEs) across the Philippines. Established in 1991 under RA No. 6977 and subsequently amended by RA 8289 in 1997, SB Corp......»»
FPRRD opposes disguised Charter change initiative
Former President Rodrigo R. Duterte has vehemently opposed the disguised People’s Initiative for Charter change, denouncing the cash-for-signature campaign as repugnant and a disgraceful act during a YouTube interview with Banateros Brothers on January 22, 2024. Duterte emphasized his disapproval of the initiative, urging for it to be halted, particularly criticizing the payment of individuals to sign the documents. He warned that such actions could lead to a new Constitution that might destroy the nation and open avenues for political abuses. Duterte stressed the importance of democracy in the Philippines, asserting that those seeking to remain in power should go through the electoral process. He highlighted that a well-performing and non-corrupt individual would retain power, while those with poor performance would be ousted through the electoral process. Expressing satisfaction with the current Constitution, Duterte argued that it has contributed to stability, reducing conflicts with groups like the New People's Army (NPA). He strongly advised against meddling with the Constitution, cautioning that it would only bring trouble to the country. Duterte pledged active opposition to the initiative, stating that he would campaign against it. Additionally, residents of Calinan District, Vice President Sara Duterte, and Representatives Isidro Ungab and Paolo Pulong Duterte have also voiced opposition to the People's Initiative for Charter Change. Margarita Atty. Migs Nograles, the representative of the Pwersa ng Bayaning Atleta (PBA) Partylist, alleged to have started the cha-cha signature campaign, has yet to issue an official statement on the matter as of the latest update. Related stories include the denouncement of alleged `vote buying’ in signing the petition for Cha-cha by Davao City lawmakers, Vice President Duterte's condemnation of the cash-for-signature drive, and a prayer rally against PI’s Cha-cha on Jan 28......»»
Road clearing ops for March set
THE Ancillary Services Unit has scheduled dates and areas for the joint clearing of streets leading to densely populated areas in Davao City to ensure the passage of emergency or response vehicles in times of calamity or fires......»»
PSE EASy platform now accepts online banking for payment of IPO subscriptions
The PSE announced that it added some new features to the PSE EASy platform that allow Local Small Investors (their words, not mine) to buy IPO and follow-on offering shares using an online banking payment system......»»
Manila LGU extends deadline for applications for business permits and licenses, payment of taxes and fees
Manila Mayor Honey Lacuna announced that the city government has extended the deadline for the filing of applications of business permits and licenses as well as the payment of taxes and fees. This, according to Lacuna, is meant to give business owners and the taxpayers of Manila more time to settle their dues. The mayor […].....»»
LIST: Dragonpay’s payment channels schedule for Holy Week
Some payment channels will have shortened hours of operation while others will be temporarily deactivated from March 27 (Holy Wednesday) to March 30 (Black Saturday)......»»
Landbank, BOC streamline payment system
The Bureau of Customs and the Land Bank of the Philippines have teamed up to facilitate a digital payment scheme for various customs processes......»»
Palawan Group of Companies, SB Corporation join forces to improve payment solutions for MSMEs
Through the expansive nationwide network and innovative payment solutions provided by the Palawan Group of Companies, SB Corp. reinforces its commitment to empowering MSMEs and working together to promote financial inclusivity throughout the Philippines......»»
CDC, Landbank offer online payment option for Clark firms
CDC, Landbank offer online payment option for Clark firms.....»»
Tax Notes: Guidelines for the filing of Annual Income Tax Returns and payment of taxes due thereon for calendar year 2023
Tax Notes: Guidelines for the filing of Annual Income Tax Returns and payment of taxes due thereon for calendar year 2023.....»»
ASEAN expands regional payment connectivity
The Association of Southeast Asian Nation has onboarded Brunei Darussalam Central Bank and Bank of the Lao PDR in ramping up cross-border payments in the region, bringing the number of total central banks participating in the regional payment connectivity initiative to eight......»»
Women entrepreneurs enjoy seamless payment solutions
Women entrepreneurs enjoy seamless payment solutions.....»»
TV5 contextualizes push for Charter change via people s initiative
CHEERS TO TV5 for its explainer on the controversial push for Charter change (also called Cha-cha) through the mechanism of a people's initiative. The five-minute report provided the necessary background on the issue and broke down the underlying strategy that sets this current attempt apart from previous undertakings......»»
Mechanism for journalists’ safety working – PTFoMS
Mechanisms to protect members of the press are already in place and working, the Presidential Task Force on Media Security said yesterday......»»
CHR to launch alert system for journalists under attack
In a statement, the CHR said that “Alisto! Alert Mechanism” seeks to “provide a concrete platform where it may directly respond to attacks and threats against media workers.”.....»»
Senate panel ready to review NGCP franchise
Following the massive power outage that struck Panay Island and other parts of Western Visayas on Jan. 2, another Senate panel is ready to conduct a probe into the National Grid Corp. of the Philippines franchise......»»