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.
Philippines-based mobile Bitcoin wallet, Coins, recently announced US$5 million in a new funding, specifically aimed at expanding basic financial services to the unbanked population throughout Southeast Asia.
Finance Secretary Cesar V. Purisima has approved Revenue Regulations (RR) No. 3-2016, prescribing the policies and guidelines on the use of credit, debit and prepaid cards as additional modes of tax payment.
Mobile money systems can be integrated within this year. Filipinos can receive or send money regardless of the telco they are subscribed to – giving a big boost to the digital economy.
More Filipinos are connected or becoming slaves of their smartphones.
Within 15 minutes of waking up, 79 percent or nearly 8 out 10 Filipinos have already checked their smartphones, compared to more than half of mobile phone users in Southeast Asia. Filipinos also glance at their screens repeatedly, using their phones most frequently when commuting on public transport. It’s also worth noting that compared to other SEA countries, in the Philippines there is a significant proportion of users – 31 percent – who listen to online radio via their smartphones.