The Philippine Institutional Payments Baseline Survey undertaken by USAID E-PESO Activity provides data on awareness, usage, intention to use and value of e-payments among businesses and government corporations in the country. The study is based on a survey on the payment behavior of businesses and their propensity to shift to electronic payments (e-payments).
The data will shed light on the common payment transactions of businesses and government corporations, what instrument they use for each transaction and through which channels they make their payments. Results of this study will be beneficial for the public and private sector alike. Providers of e-payment products and services can learn about how to improve their service offerings, product design, and partnership approach to drive further usage. Policymakers, for their part, can glean on the concerns of consumers/businesses about digital payments and channels and how regulations can help ease those constraints.
The study highlights can be downloaded from this link.
The Bangko Sentral ng Pilipinas (BSP) has adopted a multi-pronged approach to deal with the impact of technology on economic growth, stability and financial inclusion.
Starting next month, farmers can already apply for loans which could help them finance and increase their farm production, through the country’s first mobile-based digital agricultural crop loan service offered by thrift bank Producers Savings Bank Corporation (Producers Bank) via Lendr, FINTQ’s award-winning and pioneering digital lending platform.
It is now mandatory for banks, financial institutions and their clients to employ so-called multifactor authentication systems when transacting online as countermeasure in a feared surge of cyber attacks in the country.
Digital wallets continued to gain prominence in smartphones and laptops worldwide and dominated the discussion of new ways to pay, with the topic now topping 83 percent of Asia Pacific conversations and 75 percent of global conversations tracked in the 2017 edition of the Mastercard Digital Payments Study.