THE SECURITIES and Exchange Commission (SEC) has expanded its partnership with state-run Land Bank of the Philippines (LANDBANK) to provide more payment options for the transacting public. In a press release on Tuesday, the regulator said that it signed on Nov. 28 a memorandum of agreement with LANDBANK, which will allow payments for SEC-related transactions […]
Tag: transactions
Understanding transfer pricing methodologies
In our previous articles on transfer pricing (TP), we have discussed the functions, assets, and risks (FAR) analysis, entity characterization, and industry analysis. This time, we will talk about the different transfer pricing methodologies. The Organisation for Economic Co-operation and Development (OECD) Transfer Pricing Guidelines provide five methodologies that are widely used and accepted by […]
Lista records over 2M transactions a year after launch
FINANCIAL MANAGEMENT application Lista has recorded over two million transactions just a year after its launch. “When we started Lista, the problem that we saw was there were no available tools in the market in terms of managing finances. The tools that were out there were either complex, or they were either not built for […]
DTI estimates e-commerce sellers at 2 million, exceeding forecasts
THE Department of Trade and Industry (DTI) said that the number of entities doing business as online sellers has risen to 2 million, far larger than the department’s projections. “As of our estimate for 2022, we are at 2 million e-commerce participants. We had a roadmap in 2021 with an estimate of 750,000 by 2022 […]
Internet transactions bill approved unanimously by House committee
THE proposed Internet Transactions Act, which seeks to establish an electronic commerce (e-commerce) bureau, was unanimously approved by the House Trade Committee on Wednesday. The committee had consolidated several bills before voting for the version it approved, invoking section 48 of the rules of the House of Representatives, which allows records of past proceedings to […]
Digital transactions via LANDBANK surge in the first semester
DIGITAL TRANSACTIONS coursed through Land Bank of the Philippines (LANDBANK) increased in the first half, driven by increasing demand and the government’s push for online financial services. The state-run bank facilitated a total of 77.6 million transactions amounting to P1.4 trillion in the first six months of the year, LANDBANK said in a statement on […]
Cebu City moves closer to using ‘crypto coin’
THE Cebu City Government will soon be using a recently developed “crypto coin” as a way to promote cashless payments at City Hall.This after city officials and proponents announced that C Pass Inc., a Cebu-based joint venture that has an existing Memorandum of Understanding (MOU) with the city government to develop a stablecoin for use […]
Digital tax may be difficult to implement, experts say
By Diego Gabriel C. Robles THE PHILIPPINE government’s plan to impose taxes on digital transactions may be difficult to implement since it requires the voluntary compliance of foreign companies, experts said. “Taxing digital transactions is a development that we cannot stop. Transactions are mostly digital and huge income are made and derived on the digital […]
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 […]
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 […]
EGov Pay transactions surge by 467% as consumers shift online
EGOV PAY transactions jumped by 467% to over 91,000 at the end of 2021 from just around 16,000 a year earlier, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. The central bank also reported that the value of EGov Pay transactions increased by 300% to P246 million in 2021 from around P61 million in […]
Online transactions via LANDBANK rise 22% in Q1
THE VALUE of online transactions done with Land Bank of the Philippines (LANDBANK) increased in the first quarter, driven by the rising demand for digital services. The state-run bank facilitated a total of 39.14 million transactions amounting to P567.61 billion in the first three months of the year, LANDBANK said in a statement on Tuesday. […]
LANDBANK online transactions increase 46% to P2.45 trillion
THE VALUE of online transactions done with Land Bank of the Philippines (LANDBANK) surged in 2021 as the lender continued to roll out digital services during the public health crisis. LANBANK’s electronic banking transaction value jumped by 46% year on year to P2.45 trillion, the state-run bank said in a press release on Wednesday. The […]
Opal aims to assist SMEs by making business transactions more efficient in the new normal environment
SINGAPORE, Feb 9, 2022 – (ACN Newswire via SEAPRWire.com) – Opal, a Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) has launched a Global Digital Business Account for SMEs. This latest product offering from Opal will allow businesses access to a less costly and more convenient form of international payment and […]
Public-Private Partnerships Online Masterclass is Now Back by Popular Demand
Singapore, Nov 10, 2021 – (ACN Newswire via SEAPRWire.com) – Infocus International Group, a global business intelligence provider of strategic information and professional services, is bringing back the highly recommended Public-Private Partnerships (PPP) online masterclass which will be commencing live on 7 March 2022. We need new infrastructure. Roads, airports, schools, hospitals and housing: the […]
National ID seen easing remittance transactions
THE NATIONAL ID initiative will help simplify the remittance process for recipients, an analyst for the Economist Intelligence Unit said. The biggest beneficiaries could be rural residents currently experiencing difficulty proving their identities for cash transfers, according to Swarup Gupta, industry manager at the EIU said. “That could really change things, because that makes identification […]
PayMaya addressing customer reports on unauthorized transactions
MOBILE WALLET firm PayMaya Philippines is addressing concerns of users regarding unauthorized transactions using cards linked to their accounts. “We have indeed received reports that some of our PayMaya customers recently experienced suspicious and unauthorized transaction attempts involving MasterCard, Inc. or Visa, Inc. cards linked to their PayMaya accounts,” PayMaya Head of Public Affairs and […]
Aismixer Launches Its Coin Shuffle Service Platform, Protecting Users’ Privacy
Hong Kong, May 23, 2021 – (ACN Newswire via SEAPRWire.com) – Recently, Aismixer has announced the launching of its coin shuffle platform which can protect users’ privacy to the maximum extent. Coin shuffle, is a word that sounds dim and dark. But in fact, most coin shuffle services are legal. According to Chainalysis, an analysis […]
E-House’s open strategy to acquire an 85% stake in Tmall Haofang
SHENZHEN, CHINA, May 14, 2021 – (ACN Newswire via SEAPRWire.com) – On April 28, E-House China Enterprise Holdings Co., Ltd. (2048.HK) announced it had acquired an 85% stake in Tmall Haofang, through an issue of 248 million new E-House shares to Alibaba (NYSE: BABA; 9988.HK). At HK$ 7.50 per share, it was the equivalent to […]
Half of online shopping now paid via cashless means – PayMaya
DIGITAL PAYMENTS firm PayMaya Philippines, Inc. said 50% of online shopping transactions in the country are now paid via electronic payment systems. Cashless modes of payment “have most likely reached a tipping point in 2020 where over 50% of online shopping transactions in the country are now paid via cashless means,” PayMaya said in an […]