PayMaya One Lite revolutionizes cashless payments for SMEs
Digital financial services leader PayMaya brings another innovation in digital payments for small and medium-sized enterprises (SMEs) around the country as it introduces the PayMaya One Lite, an all-in-one, pocket-sized device capable of accepting all types of digital payments, including cards, e-Wallets, and QR......»»
GSIS taps Maya for payments
State-run pension fund Government Service Insurance System is expanding its payment channels through a partnership with digital bank Maya Bank Inc......»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
Philippines posts 196 mln USD deficit in February
MANILA, March 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 196-million-U.S. dollar deficit in February, significantly lower from the 895-million-dollar BOP deficit recorded a year ago, the country's central bank said on Tuesday. The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in February reflected outflows arising mainly from the national government's foreign currency deb.....»»
Paleng-QR Philippines launched in Quezon City public market
Quezon City Mayor Joy Belmonte yesterday led the launch of the Paleng-QR Ph Plus program that will enable cashless transactions at the Project 4 public market. .....»»
TRB: All toll exits go cashless by June
The Toll Regulatory Board wants to include all toll plazas under the dry run for cashless transactions by June, as it banks on the program to speed up the flow of traffic in expressways......»»
BSP expands cashless payments in markets, transport
The Bangko Sentral ng Pilipinas has launched the extension of cashless payments in public markets and transportation services in 16 cities and provinces across the country......»»
PNP, GCash advise users against illegal raffle promotions online
This holiday season, GCash is advising the general public against illegal raffle promotions that sell online tickets for a chance to win cash prizes and automobiles. The warning comes as part of the leading e-wallet’s thrust to build a financially inclusive and safe cashless ecosystem by educating users on the modus of scammers, fraudsters, and.....»»
BSP ramps up cashless payments in markets, transport
The Bangko Sentral ng Pilipinas continues to extend cashless payments in public markets and transportation services in more provinces across the country......»»
Cashless Expo fuels digital payment transformation in Philippines
The recently concluded Cashless Expo 2023, hosted by GoDigital Pilipinas at the World Trade Center in Pasay City, marked a significant collaboration between the public and private sectors. In partnership with the Department of Trade and Industry the Department of Agriculture and the Bangko Sentral ng Pilipinas the expo showcased the benefits of digital transactions, focusing on driving the digital transformation, particularly among micro, small and medium enterprises (MSMEs) and farmers, in e-commerce, digital payment, banking and fintech......»»
E-payments in public markets, transpo reach BARMM
The Bangko Sentral ng Pilipinas has extended cashless payments in public markets and transportation services to reach the Bangsamoro Autonomous Region in Muslim Mindanao......»»
Maiden Cashless Expo set to gather proponents of digital transactions
Since its inception, GoDigital Pilipinas has championed digital literacy and has worked to inspire Filipinos to join the digital transformation era......»»
BSP, DTI partner for cashless expo
The Bangko Sentral ng Pilipinas has partnered with the Department of Trade and Industry to hold the country’s first cashless expo next month......»»
More protection for GCash users
Digital money transfers are now an integral part of daily transactions. However, scammers, fraudsters and cybercriminals have devised various strategies to take advantage of users and exploit the cashless economy. In addition to utilizing topnotch cybersecurity systems, the Philippines’ number-one finance super app, GCash, has added another layer of protection with the introduction of “Send Money Protect” on its in-app feature, GInsure. SMP provides users confidence and peace of mind when sending money digitally for as little as P30 per month. SMP provides users comprehensive protection from the most common scams such as online shopping fraud, account takeovers and social engineering, for transactions done via “Express Send” in the app. SMP, offered in partnership with Chubb, the world’s largest publicly traded property and casualty insurance company, can easily be availed once every 30 days. Studies show that 45 percent of Filipino adults have been targeted by scams, with 11 percent falling victim to such activities. This has led to uncertainties toward digital payment methods among some users, hampering milestones already achieved in financial inclusion. “We at GCash believe in building partnerships that amplify the value we provide to our users. That's why we've teamed up with Chubb, a global insurance leader and our partner in consumer protection, to bring you an added layer of protection. This collaboration ensures that you have added financial protection from the unexpected when transacting online, giving you the confidence that your hard-earned money is in safe hands,” said GCash vice president for New Businesses Winsley Bangit. Chubb Philippines’ country president Mari Rachelle Canta also emphasized that, “Our partnership with GCash further strengthens our mission to serve millions of customers by providing a safety net through embedding insurance in everyday transactions. Now, GCash users have enhanced protection from cybercrimes with ‘Send Money Protect.’” The partnership between GCash and its consumer insurance partner Chubb was solidified through a memorandum of agreement signing on 13 September 2023. Signatories from Gcash included VP for New Businesses Winsley Bangit and GInsure head Joseph Nino Young, while those from Chubb in the Philippines included country president Mari Rachelle Canta and VP and head of Consumer Lines Maurice Hilario. While the feature is currently in its beta version and available exclusively to GCash and Chubb employees for now, GCash has announced that it will be fully rolled out by 13 November 2023, promising a safer, worry-free online transaction experience for all. The post More protection for GCash users appeared first on Daily Tribune......»»
GCash expands in Singapore
GCash, the Philippines’ leading finance super app, doubles down on its presence in Singapore as it can now be used as a cashless payment option in both Alipay+ and Alipay China-enabled merchants. This further expands GCash’s availability in one of the most famous destinations in Southeast Asia. It has already been accepted by Alipay+ merchants in 2022, but now GCash can also be used to pay in select AlipayCN establishments. Some of these merchants include 7-Eleven, which has the largest convenience store network in the country at 450 branches; the largest orange juice vending machine operator, iJooz; the exclusive distributor of duty-free cosmetic products, The Shilla Duty-Free; and the largest taxi operator, ComfortDelGro taxis. “GCash is committed to always being there for our millions of users wherever they are here in the Philippines and all over the world. Thanks to our global partner Alipay+, GCash users can now go cashless in thousands more touchpoints in Singapore,” said Ren-Ren Reyes, president and CEO of GCash mobile wallet operator, G-Xchange. Aside from expanding its touchpoints, GCash is also making it rewarding for users to go cashless in Singapore. When they use GCash to pay in 7-Eleven, iJooz, and hawkers like Lau Pa Sat they can get P85 off from their purchase. Likewise, users can enjoy up to P400 off at ComfortDelGro taxi rides and their shopping at The Shilla Duty-Free stores. To claim these vouchers, head on over to the GCash app and tap the “A+ Rewards” button. In the dropdown button, select Singapore and scroll down to select a voucher to purchase. When paying for your purchases at these destinations, be sure to look for the Alipay+ or AlipayCN logo at the checkout. Open your GCash app and select the QR or PayQR button at the bottom of the screen. Scan the merchant’s QR code, or tap “Pay Abroad with Alipay+ or AlipayCN” to have the merchant scan your generated QR. Then, check the amount and click “Pay” to see the receipt. GCash is continuously expanding its international footprint in partnership with Alipay+. Aside from Singapore, the Philippine e-wallet can be used to pay in select Alipay+-enabled merchants across Japan, South Korea, Malaysia, Qatar, the United Kingdom, France, Germany and Italy. “Our users can expect GCash to further expand its global reach as we partner with more merchants in more countries,” Reyes said. The Philippine finance super app is also making its services available to more Filipinos who live abroad as the GCash app can now be used with international numbers in the US, UK, Canada, Japan, Italy and Australia. The post GCash expands in Singapore appeared first on Daily Tribune......»»
Invest in MIF, PBBM urges Saudi bizmen
RIYADH, Saudi Arabia — President Ferdinand Marcos Jr. and his economic managers portrayed a healthy and robust Philippine economy as he encouraged Saudi Arabian businessmen to participate in the nation’s recently established sovereign wealth fund, Malacañang said on Friday. In a statement, the Palace said Marcos pitched the Maharlika Investment Fund to Saudi business executives, hoping to gain from their investments and wealth of financial management know-how. “At the forefront of these opportunities is the recently launched Maharlika Investment Fund, the Philippines’ first-ever sovereign investment fund designed to drive long-term economic development through increased investments in high-impact sectors,” Marcos said. “We look forward to benefiting not just from Saudi investments but also from the Kingdom’s extensive experience in managing such funds,” he added. In response, Saudi Ministry of Investment Minister Khalid Al-Falih said Saudi investors are keen to learn from the Philippines’ financial sector. Al-Falih said the MIF was of particular relevance to the Saudi business community. “We want to connect you to key Saudi investors with impressive success stories to share and with the desire to continue building our international presence by investing with partners across the globe, the Philippines being a key one,” Al-Falih said. He added: I am pleased that we are joined today by leaders of the sector from Saudi Arabia who are eager to learn more about one of ASEAN’s most exciting markets and about the Maharlika Investment Fund that you have launched under your administration.” The Saudi government, he said, may provide information about their “extremely successful banking sector.” He applauded the Philippine government’s efforts to have a cashless society, one that uses mobile money as well, by 2030. The post Invest in MIF, PBBM urges Saudi bizmen appeared first on Daily Tribune......»»
Expo aims to onboard more MSMEs into digital payments
The Bangko Sentral ng Pilipinas is expecting that the first-ever Cashless Expo will provide more micro, small and medium enterprises the chance to adopt digital payment schemes to further grow their businesses......»»
Travel eases as unified toll sticker, wallet rolls out next year
Motorists traversing the country's major expressways may start using a unified RFID sticker and wallet for more efficient toll payments within the second quarter of 2024 as both regulators and operators push to advance the long-delayed toll road interoperability project. During the Bagong Pilipinas Ngayon briefing on Tuesday, Toll Regulatory Board spokesperson Julius Corpuz said the planned Phase 3, or the last stage of the toll road interoperability project is on track to roll out anytime from April to June next year. Corpuz conveyed that his optimism stemmed from the constant and conclusive coordination among the government and toll operators San Miguel Corp. or SMC and Metro Pacific Tollways Corp. or MPTC. "We are looking forward to the Phase 3 dry run this coming December and that phase of our interoperability project will be fully implemented by the second quarter of next year," Corpuz said. "We continue to communicate and coordinate with the operators to identify areas that need improvement so that the planned rollout will be smooth. So far, it looks like we are on track," he added. Once in place, for instance, motorists may easily pass through North Luzon Expressway, a toll road operated by MPTC, using their Autosweep RFID sticker, which is normally used across SMC-operated expressways. In turn, those with EasyTrip RFID stickers will then be allowed to use them in MPTC-controlled expressways. The Toll Interoperability Project was launched in 2017, requiring toll road companies to make system adjustments for integrated toll collection. The first stage of the project involves implementing a completely cashless and contactless system for toll payments. The second stage, on the other hand, includes the use of two RFID wallets to hold payment loads for specific toll plazas, but there will also be a single RFID sticker that can be read by sensors at various toll roads. Finally, the third stage involves implementing an RFID sticker for all toll expressways and consolidating all toll payments into one wallet. The TRB is currently in the second month of the two-month dry run it is enforcing for contactless transactions in select toll plazas, which seeks to determine the program's viability. It also aims to identify and resolve any roadblocks that will hinder the operators from fully implementing the project. As perceived, Corpuz said many motorists still do not have their RFID installed during the initial run. "One of the biggest challenges is encouraging and motivating our motorists to switch from cash to RFID. But we noticed that since we implemented this dry run, many people have started to install RFID and they are now enjoying faster transactions at our toll plazas," Corpuz said. "After October, if our 2-month dry run ends, we will have an assessment on whether to extend it or not. It will also guide us in determining if we need to do something else to improve and repair our electronic toll-collecting systems," he added. The post Travel eases as unified toll sticker, wallet rolls out next year appeared first on Daily Tribune......»»
Parañaque adopts QR Ph in online payment services
To promote full cashless payment system in local government transactions, the city government of Parañaque has fully adopted the national quick response code standard, also known as QR Ph, in its bid to accelerate digitalization......»»
DTI slates Cashless Expo 2023
To promote the benefits of micro, small and medium enterprises to be onboarded to digitization, particularly in adopting digital payments, the Department of Trade and Industry is kicking off Cashless Expo 2023 in November. On Thursday, Trade and Industry Secretary Fred Pascual signed a memorandum of agreement with GoDigital Pilipinas Movement Inc., for the upcoming exposition. “This multifaceted approach in encouraging small businesses to adopt digital payments is aligned with the goal of the government to promote digital inclusivity through innovation to ensure that local enterprises remain globally competitive. Through a whole-of-government approach, the DTI will partner with both public and private stakeholders to foster digital transformation and wider accessibility for our enterprises,” according to Pascual. The objectives of the MoA are to increase digital payment adoption by merchants and encourage cashless transactions among consumers. Following the e-Commerce Philippines 2022 Roadmap launched earlier last year, the agreement further strengthens the aim of the DTI in promoting digitalization and financial inclusion among merchants and consumers. The Cashless Expo 2023, scheduled on 17 to 19 November 2023, is a collaboration between the DTI Digital Philippines E-Commerce Division and the GoDigital Pilipinas Movement. Further, it aims to ramp up efforts to increase digital payments across the nation. The event is supported by other government agencies such as the Department of Tourism, the Department of Agriculture and the Bangko Sentral ng Pilipinas, along with the private sector and digital payment enablers. The Cashless Expo 2023, the first cashless expo in the Philippines, will be a three-day trade show that will feature MSMEs that pioneer entirely cashless transactions. It will also showcase businesses using digital payment methods like e-wallets, debit/credit cards, online bank transfers, and QR codes or Near Field Communication technology to enable contactless transactions. The DTI Chief stressed the significance of digital transformation to enable MSMEs to be globally competitive, saying, “This event takes us one step closer to our goal of encouraging the adoption of digital payments across all industries. As the DTI works on science, technology and innovation driven approaches, we encouraged both public and private sectors to work with us in ensuring that digital transformation will happen in the Philippines.” The post DTI slates Cashless Expo 2023 appeared first on Daily Tribune......»»
8.3K permits for telecom towers granted
More than 8,300 permits and clearances to build cell towers of telecommunications companies have been approved by 668 local government units, or LGUs, across the country, the Department of the Interior and Local Government said Monday. DILG Secretary Benhur Abalos Jr. said that as of 15 September, 8,311 permits for telecom towers had been approved by cities and municipalities, while 2,404 permits were still being processed in 229 cities and municipalities. Abalos said the DILG is monitoring the processing of permits and will issue show-cause orders to LGUs that delay the process. He said this is in support of President Ferdinand R. Marcos Jr.’s directive to improve and digitalize business processes, as he underscored DILG efforts to build smart cities and sustainable communities. Abalos said LGUs are streamlining their regulatory processes in line with Republic Act 11032, or the Ease of Doing Business Act. He cited his experience as a mayor of Mandaluyong City where complaints from the public were immediately acted on. He said Executive Order 32, signed by the President last July, streamlined permit processes for the construction of telecommunications and Internet infrastructure. The EO states that no other national or local permits or clearances shall be required for the construction and operation of telecommunications and internet infrastructure except those required by law. “There is usually a lot of red tape when building a telecoms tower. Because of this executive order, the requirements have been reduced and we expect interconnectivity to improve,” he said in Filipino. He added that efforts are being exerted to adopt digital or electronic facilities for business registration and renewal, and for the assessment and collection of local taxes, fees, and charges, as well as to shift to cashless payments pursuant to EO 170. “We have a joint initiative with the Bangko Sentral ng Pilipinas called Paleng-QR. When you buy vegetables and food at the market, you no longer need to bring cash. Several LGUs across the country are now into cashless transactions through this system,” he explained. The post 8.3K permits for telecom towers granted appeared first on Daily Tribune......»»