PayMaya Philippines Inc., formerly Smart e-Money, Inc., is targeting double-digit growth in users this year, as it further expands its presence both here and overseas.
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.