MANILA, Philippines — The Philippines has the lowest automated teller machine (ATM) density in the region as the moratorium on transaction fees imposed by the Bangko Sentral ng Pilipinas (BSP) in 2013 has held back banks’ optimal performance in servicing and expanding their reach. The Bankers Association of the Philippines (BAP) reported over the weekend […]
Read MoreMANILA, Philippines — The country posted a Balance of Payments (BOP) surplus for the fourth straight month in October as more remittances flowed into the country ahead of the Christmas season, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. The country’s BOP position recorded a $163-million surplus in October, reversing the $458-million deficit recorded in […]
Read MoreMANILA, Philippines — The net income of the Bangko Sentral ng Pilipinas (BSP) declined by 14.5 percent to P38.65 billion in the first nine months from P45.23 billion in the same period last year amid higher expenses and lower gains from foreign exchange transactions. Data released by the central bank showed total revenues mostly comprised […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is set to launch peer-to-peer transactions using the national quick response (QR) code, as it expands the list of government transactions covered by electronic payments. Vicente de Villa, managing director of the BSP’s Financial Technology Sub-Sector, said the use of QR codes for peer-to-peer transactions would […]
Read MoreMANILA, Philippines — Malacañang on Monday said there is no order from President Rodrigo Duterte to suspend the importation of rice. The Palace issued the statement after GMA News reported that Duterte wanted to halt the purchase of the staple grain from abroad and that the government should start buying rice from Filipino farmers to […]
Read MoreUnion Bank of the Philippines’s fintech subsidiary UBX has become the first Philippine partners for the Monetary Authority of Singapore (MAS) Business Sans Borders (BSB) project. The partnership allows UBX’s SME platform, Sentro, to be integrated in the BSB system, enabling SMEs from both markets to discover cross-border business opportunities said UBX in a release […]
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