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News

Overseas Filipino Worker Remittances May Drop by $5 Billion This Year

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.

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Drop in Remittances to Hurt Consumption in Philippines

Moody’s said the fall in remittances could further widen the current account deficit of the Philippines and other countries.

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COVID-19 Impact: Digital Payments Soar in Philippines

Payment platform GCash witnessed a sharp increase in the number of registered users since mid-March.

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Philippines: ADB Grants MFI-NGO $30-M Credit Facility for Micro-Entrepreneurs

The first tranche of the credit facility amounting to $10 million will extend loans to over 25,000 women-entrepreneurs owning small businesses, which suffer from the economic impact of the (COVID-19) pandemic. 

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Grameen Foundation, J.P. Morgan Deliver COVID-19 Relief in the Philippines

Supported by J.P. Morgan, the program will provide immediate relief and longer-term recovery support to 3,500 women entrepreneurs running microenterprises.

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Overseas Filipino Workers in UAE Can Now Send Money Home for Free, Thanks to Gcash-Denarii Cash Tie-Up

Both Denarii Cash and GCash share the same commitment of offering convenient and affordable financial services to Filipinos.

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Philippines: Consumers Shopping, Banking From Home Warned vs Rash of Digital Payment Fraud, Hacking

While the COVID-19 pandemic has increased usage of digital payments, there has been an observed increase in attempts at scams and financial crimes.

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Coronavirus: How Cash-Mad Philippines Learned to Love Digital Money Thanks to COVID-19

Online payments have been slow to take off in the Philippines, where cash has long been king.

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Hong Kong Alt-Lender Oriente Raises $50m as It Looks to Step up Efforts in a Highly Competitive Sector

Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam. 

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Bangko Sentral ng Pilipinas Encourages Shift to E-payments Amid Quarantine

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno championed the use of e-payments amid the Luzon-wide, enhanced community quarantine (ECQ) to minimize face-to-face transactions and prevent the spread of COVID-19.