AF PAYMENTS, Inc., operator of the reloadable contactless smart card Beep, announced on Thursday a new advance booking system feature for a Manila-Davao bus route. The system will be implemented initially by the Davao Metro Shuttle in its Metro Manila-Davao route, AF Payments said in an e-mailed statement. Passengers of the bus company will be […]
Tag: payments
Yet another BIR deadline in April
For taxpayers following the calendar year as their tax period, the start of the new year marks the countdown to the April income tax deadline. While this is the most pressing deadline for most taxpayers, we should not forget that there is also another BIR requirement due in April — the Request for Confirmation (RFC) […]
Debt service bill declines 24% in November
The National Government’s (NG) debt service bill fell 24.4% year-on-year in November following a large principal payment to foreign creditors. According to preliminary data from the Bureau of the Treasury (BTr) the government paid P61.389 billion to service its debt against P81.239 billion ia year earlier. Month-on-month, debt payments rose 54.2% from P39.817 billion in […]
Opn and JCB Partner to Add JCB’s Acquiring and Processing Capabilities to Opn’s Payments Offering in Thailand
TOKYO and BANGKOK, Dec 22, 2022 – (JCN Newswire via SEAPRWire.com) – Opn, the global one-stop payment solutions provider, and JCB International Co., Ltd., the international subsidiary of JCB Co., Ltd., Japan’s only international credit card brand announced that they partnered to add JCB’s acquiring and processing Capabilities to Opn’s payments offering in Thailand. This […]
Amending the creditable withholding rates of income payments to Meralco
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) 15-2022 to inform all concerned regarding the amendment of the creditable withholding rates of income payments to Meralco. These are the creditable withholding tax rates for the following income payments: I. Meralco payments on the following: a. Meralco Refund arising from ERC Case Nos. […]
Send Christmas cash gifts digitally, says BSP
THE Bangko Sentral ng Pilipinas (BSP) encourages the giving of digital cash gifts this yuletide season. “We encourage our countrymen to take advantage of the ease and safety provided by digital finance in sending their cash gifts during the holidays,” according to the BSP. Ninongs, ninangs and other gift-givers who intend to give cash as […]
Maya wins award for its all-in-one money app
PLDT-BACKED Maya was recognized as a country winner at the IDC Future Enterprise Awards 2022 for leveraging its deep customer data and artificial intelligence to bring banking, payments and more in just one money platform – the first-of-its-kind innovation in the Philippines. Maya was chosen as the Best in Future of Intelligence for its Data-Driven […]
October balance of payments at $711M surplus
The Philippines’ overall balance of payments (BoP) position was a surplus of $711 million in October, lower than the $1.1 billion surplus recorded in the same month last year, the central bank said on Friday. The BoP surplus for October reduced the cumulative BOP deficit in January-October to $7.1 billion from a deficit of $7.8 […]
Card industry poised for growth
THE CREDIT CARD industry is expected to continue growing this year and next amid rising interest rates, an official from Asia United Bank Corp. (AUB) said on Monday. “I think the credit card industry is on the right track for growth this year and next year,” AUB Senior Vice President and Cards and Acquiring Business […]
Aboitiz’s UBX leads move on gov’t’s digitalization
ABOITIZ group’s financial technology venture studio UBX announced on Thursday that it is leading a multi-sectoral initiative to drive digital transformation in government. The goal is to help bring “essential and critical services” closer to Filipinos, UBX officials said during a forum in Pasig City, noting that the Philippines continues to face obstacles in achieving […]
JCB and Trust Payments welcome increased JCB acceptance across 48 European regions
TOKYO & LONDON, Oct 25, 2022 – (JCN Newswire via SEAPRWire.com) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., today announced a new partnership with Trust Payments, a leader in fintech powering truly innovative customer commerce solutions. JCB’s growing community of over 140 million cardmembers will now be able to […]
PSE index declines on profit taking, BoP data
STOCKS dropped on Thursday on profit taking and fears that the country’s wider balance of payments (BoP) deficit may cause the peso to weaken further versus the dollar. The benchmark Philippine Stock Exchange index (PSEi) declined by 92.32 points or 1.5% to finish at 6,055.99 on Thursday, while the broader all shares index went down […]
The Philippines’ Payments, E-Commerce & Banking Leaders to Gather Live Online this September to Chart the Future of Commerce
MANILA, Sep 15, 2022 – (ACN Newswire via SEAPRWire.com) – Seamless Philippines returns live online this 28-29 September, gathering over 1,200 attendees virtually to explore the latest innovations in the Philippines across the payments, e-commerce and banking sectors. “With digital payments and ePayments in the Philippines forecast to account for 50% of transactions by 2023, […]
PayMongo ties up with Trade dep’t for MSMEs’ digital transformation
ONLINE PAYMENTS enabler PayMongo Philippines, Inc. announced on Tuesday a partnership with the Department of Trade and Industry (DTI) aimed at increasing micro, small, and medium enterprises’ (MSMEs) access to financial services. The partnership aims to help MSMEs digitize their businesses through digital payment solutions, PayMongo said in an e-mailed statement. Under the partnership, PayMongo […]
Increased QR Ph adoption to boost digital payments
THE BANGKO SENTRAL ng Pilipinas (BSP) expects the increasing adoption of the national Quick Response (QR) Code Standard or QR Ph Person-to-Merchant (P2M) payment facility to boost consumers’ access to safe and efficient digital transactions. Latest data from the BSP showed that the QR Ph P2M facility can now be used in 473,000 merchant locations […]
BDO Pay now available to non-clients
BDO UNIBANK, Inc. has updated its BDO Pay app to give access to non-clients in a bid to support the Bangko Sentral ng Pilipinas’ (BSP) goal to increase the adoption of digital payments in the country. “BDO Unibank has made the BDO Pay mobile app available to non-BDO clients to support the Digital Payments Transformation […]
Digital Payments IN PH Breach 30% in 2021
THE share of digital payments to total retail payments volume in the Philippines rose to 30.3 percent in 2021 from 20.1 percent in 2020, according to the latest e-payments data of the Bangko Sentral ng Pilipinas (BSP).The value of digital payments in the country, meanwhile, represented 44.1 percent of total retail payments in 2021, up […]
Digitalization benefits ESG-related communities, entities — report
THE acceleration of digitalization helps boost environment, social, and government (ESG) related communities and businesses in the Philippines amid the ongoing coronavirus pandemic, according to research firm ESG Intelligence. According to the report, almost two-thirds of new digital consumers came from non-metro areas in the first half of 2021. Filipino consumers use twice as many […]
Digital payments rose, made up 30.3% of retail transaction volume in 2021
DIGITAL PAYMENTS rose in terms of volume and value in 2021 as consumers and businesses used online channels amid mobility restrictions brought by the pandemic, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. The share of digital payments in the total volume of retail transactions in the country rose to 30.3% in 2021 from […]
Philippines: Balance of payments position
THE PHILIPPINES posted its largest monthly balance of payments (BoP) deficit in 15 months in May, mainly due to the National Government’s foreign debt payments, the central bank said on Tuesday. Read the full story.