Advertisements


Financial sector sets up online platform vs fraud

The rapid shift of Filipinos to online transactions has also resulted in the increase of online scams and fraudulent activities. This accelerated further with the onset of the pandemic as more fraudsters tried to take advantage of the situation......»»

Category: newsSource: philstar philstarNov 28th, 2020

Public sector goes cashless using PayMaya platform

The pandemic has accelerated the government’s digital transformation, with PayMaya leading the way in enabling national agencies and local government units to accept all kinds of cashless payments and disburse financial aid anytime, anywhere......»»

Category: financeSource:  philstarRelated NewsJan 4th, 2021

PNB plans to establish digital bank subsidiary

The Philippine National Bank (PNB) is thinking of putting up a digital bank either as a subsidiary or stand-alone unit, according to its president and CEO Jose Arnulfo “Wick” Veloso. PNB president and CEO Jose Arnulfo “Wick” Veloso  “We’re discussing internally with the principals,” said Veloso. “They really want us to set up a digital bank” and a pure digital bank at that. The Bangko Sentral ng Pilipinas (BSP) has drafted a circular for the establishment of digital banks in the country and the banking community is currently being consulted on this, including the proposal to impose a minimum capitalization of P1 billion for a digital banking license.  “Clearly, as we get to see more regulations (or) the regulatory body encouraging digital bank participation, we would like to also review that and probably put into a subsidiary or stand alone,” said Veloso. “I understand there is going to be different regulatory relief or ease of doing business for those that are going to set up purely digital banks. That is something that we are seriously reviewing.” Veloso, in a virtual press briefing on Friday, said that in the digital banking landscape as it is currently set up now, PNB is one of the leaders in the digital experience and since March when the lockdowns were implemented, the bank has been trying to convince clients to go digital.  “Others claim to be ahead of space in the digital world. I can proudly say that the only thing they are ahead of us are  — for one bank, the end-to-end account opening, and for another bank, it’s because of the end-to-end check deposit. But otherwise, there is no dfference with what they’re sharing with everyone else,” said Veloso. The bank has seen an increase of 18 percent in its digital and mobile transactions during the height of the pandemic lockdowns. As of end-September, they now have 696,000 users of their digital platforms, up 31 percent year-on-year.  “We want our customers to understand how they can easily manage their funds and transact by going online using our digital channels. We also want more people to learn about the products that are meant to fit all their needs (with digital banking experience),” said Veloso. Presently, PNB branches across the country are “reaching out to customers who have not yet registered with internet banking or mobile banking”. In the BSP proposed circular on digital banks, any existing banks applying to shift to digital banking are given three years to complete conversions including the closure of branches or branch lite units. The BSP said a digital bank will be confined to a digital platform and/or electronic channels “with minimal to no reliance” on physical touchpoints. It will not have a branch or branch-lite unit but it can offer offer financial products and services through cash agents and other delivery partners. However it will be required to keep a head office in the Philippines as its main point of contact and as a “central hub for receiving and resolving customer complaints.” There are three banks that are already applying to deliver digitized financial services but these applications are not digital bank applications but are applying under existing BSP banking classification, pending the digital banking regulation......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

Financial Sector and Intelligence-Driven Cybersecurity Amidst Digital Revolution in SEA

Among the obvious effects of this pandemic is the rapid rise of online payment services and digital banking across Southeast Asia (SEA). Due to various social distancing restrictions, people from across the region now opt to avoid the brick-and-mortar bank branches deemed as a public space where coronavirus may flourish, in turn kicking off the […].....»»

Category: newsSource:  metrocebuRelated NewsAug 12th, 2020

Financial sector and intelligence-driven cybersecurity amidst digital revolution in SEA

Among the obvious effects of this pandemic is the rapid rise of online payment services and digital banking across Southeast Asia (SEA)......»»

Category: techSource:  thestandardRelated NewsAug 3rd, 2020

PayMaya enables over 50 government agencies

Digital financial services provider PayMaya has enabled over 50 government agencies  to streamline their services and accept cashless payments online todate. From June 2019 to June 2020, the volume of transactions processed by PayMaya from partner government agencies surged 900 per cent. This shows the government efforts to encourage digital payments for fees and services by accepting debit, credit, and e-Wallet payments has paid off. “In the span of one year, government agencies have stepped up their efforts in digitalizing their processes,” according to Orlando B. Vea, Founder and CEO of PayMaya. Because of this, many agencies have been able to continue offering relevant services despite the current crisis, he added. To date, PayMaya has already inked partnerships with the Social Security System (SSS), Bureau of Internal Revenue (BIR), Home Development Mutual Fund (HDMF) or PAG-IBIG, the Department of Trade and Industry, the Department of Foreign Affairs, the Department of Science and Technology, the Bureau of Customs, the Bureau of the Treasury through the Bonds.ph platform, the Department of Agriculture’s Agricultural Credit Policy Council, the Professional Regulation Commission, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), and the National Home Mortgage Finance Corporation (NHMFC), among  others.  As part of measures needed to be observed in the ‘new normal’, PayMaya intends to enable more government agencies, institutions, and  local government units to accept cashless payments and digital disbursements. Hence, PayMaya has launched its LGUs Embracing and Accelerating Digitalization (L.E.A.D.) program to help local governments offer digital transactions for constituents. The company likewise enabled digital disbursements for the cities of Manila, Mandaluyong, Caloocan, Pasig, and Quezon City, particularly in delivering financial aid to beneficiaries severely affected by the COVID-19 pandemic.  SSS and the Department of Social Welfare and Development (DSWD) also tapped Paymaya  to distribute financial aid to beneficiaries of its Small Business Wage Subsidy (SBWS) and Social Amelioration Program (SAP). Furthermore, it has powered the digital payment facilities of LGUs such as Valenzuela and Taguig. Through its app and wallet, PayMaya  provides millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined. Its Smart Padala by PayMaya network of over 30,000 partner touchpoints nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services. .....»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Huawei Developer Day kicks off on August 6

The next instalment of the globally broadcasted ‘Huawei Developer Day’ (HDD) series will focus on how online retailers, businesses, and developers can utilise Huawei Mobile Services’ (HMS) innovative technology to get the most out of a rapidly evolving online retail landscape. Live on Thursday 6 August, the event, titled ‘The Huawei Developer Webinar | Connect LIVEs with E-commerce,’ will demonstrate how Huawei is making live commerce easier, faster, and more immersive than ever. By combining its HMS capability kits into a single ecommerce solution, Huawei can now offer a technological edge over other platforms, providing a truly intelligent live commerce experience.  Developers who attend the free webinar will learn how Huawei can help merchants from multiple industries increase traffic on to their online platform, while simultaneously lowering costs for hosting live ecommerce events. With speakers from partnering companies LiveMe and Kumu among the many due to speak at the event, attendees will gain exclusive insight into creating a richer and more advanced live streaming experience.  “With more consumers and vendors converting to live commerce streaming to sell and buy products, ecommerce is continuing its rapid growth and represent an increasingly large section of the global retail industry. A key priority for Huawei is supporting the expanding number of developers around the world in this field, which is why our next HDD is dedicated entirely to ecommerce and online retailers,” said Peter Gauden, the Head of WEU EcoSystem Marketing at Huawei Consumer Business Group.  “HDD is an invaluable opportunity for developers and retailers of all sizes and sectors to get a head start on competitors and learn how our new and enhanced HMS-based solution can greatly enhance their live commerce capabilities,” said Peter. As well as launching the new ecommerce solution and sharing expert insights into how the global ecommerce sector is becoming increasingly integrating with mobile technology, the hour-long webinar will welcome interaction from the audience through live comments. This ecommerce HDD event is the latest part of Huawei’s commitment to creating an all-scenario smart ecosystem for better experiences, enabling developers to open new doors, and allowing Huawei consumers and AppGallery users to unlock more innovative and unique experiences. The event is part of the ongoing support and resources that developers have access to when integrating with HMS and listing on AppGallery. Huawei’s fully open Chip-Device-Cloud capabilities ensures app experience and innovation is accelerated, while its full life-cycle operation management, extensive brand resources, and expertise in local markets helps developers succeed in business. It also offers one-stop operational support for developers worldwide covering the entire development cycle to incentivise innovation and ensure ecosystem prosperity......»»

Category: newsSource:  mb.com.phRelated NewsAug 1st, 2020

Online mortgage broker Nook champions financial inclusion for home loan applications

Online mortgage broker Nook is driving for a more inclusive banking and loaning system in the Philippines as it strengthens its partnership with local banks and provides Filipinos with more home loan options across its online platform......»»

Category: techSource:  thestandardRelated NewsApr 2nd, 2020

Education key to online trust in fintech platform

In a consumer culture where trust in products and brands are often built over years of face-to-face interactions and even personalized customer service, persuading suki-loving Filipinos to develop a meaningful understanding of the value of financial technologies or “fintech” platforms can be challenging......»»

Category: newsSource:  philstarRelated NewsJan 19th, 2020

Taiwan asks Hong Kong, China to help fight $30 million online love scams

TAIPEI, Taiwan – Taiwan urged China and Hong Kong on Tuesday, July 16, to work together to investigate a spate of financial love scams that have caused over US$30 million in losses to Taiwanese targets. Fighting this new type of cross-border fraud will require the cooperation of all 3 administrations, and ........»»

Category: newsSource:  rapplerRelated NewsJul 17th, 2019

The Philippine fintech landscape

To say that new technology in the financial sector has created a paradigm shift in the Philippines is an understatement. While most financial transactions were done through cash or check…READ The post The Philippine fintech landscape appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 11th, 2019

Bayad Center rebrands as Bayad, elevating PH financial experience

Bayad Center, the country’s most trusted payments authority has rebranded with a new brand identity, logo and tagline as it connects with the new generation of payers, expand its digital footprint, and further contribute to the advancement of the country’s finance sector. .....»»

Category: techSource:  thestandardRelated News10 hr. 6 min. ago

PSALM cuts financial obligations by over P40 billion

State-run Power Sector Assets and Liabilities Management Corp. has trimmed its 2020 financial obligations by P40.1 billion—which is more than its target last year—as it improved its collection efficiency despite the pandemic......»»

Category: financeSource:  philstarRelated NewsJan 20th, 2021

Loan program ng GSIS pinalawig hanggang Disyembre 2021

Manila, Philippines — Pinalawig pa ng Government Service Insurance System (GSIS) ang kanilang loan program hanggang sa December 29, 2021. Sa ulat, nailabas na nila ang P110 bilyon sa ilalim ng GSIS Financial Assistance Loan (GFAL) program kung saan pinakinabangan ng  271,000 government employees buhat nang ilunsad noong May 2018. Bukod pa rito, ang loan […] The post Loan program ng GSIS pinalawig hanggang Disyembre 2021 appeared first on REMATE ONLINE......»»

Category: newsSource:  remateRelated NewsJan 19th, 2021

Tricycle driver upsets GM Laylo in PCAP rapid chess

Unheralded Jake Tasi Tumaliuan, a 31-year-old tricycle driver from Tuguegarao City, is the new chess sensation as he spearheaded his team Cagayan Kings into a cliff-hanging 11-10 victory over heavy favorites Pasig Kings Pirates at the start of 2021 Professional Chess Association of the Philippines (PCAP) Chess League on online tournament on Saturday, January 16, 2021 at the lichess platform......»»

Category: sportsSource:  thestandardRelated NewsJan 18th, 2021

Gov’t sets inspection of cold storage facilities

For COVID-19 vaccines The government will conduct an inspection starting next week of existing cold storage facilities as it prepares for another tripartite logistics suppliers agreement for an integrated shipment, storage and distribution of COVID-19 vaccines in the country. National Task Force Against COVID-19 Chief Implementer and Vaccine Czar Secretary Carlito Galvez Jr. said this as he assured that inputs from the private logistics providers will be considered in organizing an end-to-end service for the vaccines’ rollout. Presidential Peace Adviser Carlito Galvez Jr., chief implementer of the National Task Force (NTF) on COVID-19 (NTF AGAINST COVID-19 / MANILA BULLETIN) “Next week we will inspect all available cold chain storage. We are coordinating with a consortium so that they will make sure that all vaccines from 2-8-degree celcius to negative 70 will be taken care of,” he said. This developed as the Cold Chain Association of the Philippines (CCAP), told Manila Bulletin that the industry is still awaiting for the government to accept the industry’s offer to play a role in the distribution of COVID-19 vaccine. CCAP is a multi-sectoral group of companies involved in the handling, storage, and distribution of chilled and frozen food, among other products.                Galvez assured that the logistics system for the vaccines will be in coordination with the vaccine suppliers, the cold storage provider and the government. Galvez explained the government has to establish an integrated logistics system for the vaccines to ensure there is no wastage of the new vaccines, which have different storage temperature requirement. “We have seen some reports that we have 30 percent wastage in some areas in Europe. With acute shortage of vaccines we cannot afford wastage,” he stressed. He further said that the cold storage facilities are part of their agreement with vaccine suppliers for an end-to-end service solution. The after sales service is part of this long commitment with the vaccine suppliers and as a requirement under the government’s universal health system. “We will make sure that the vaccine that will be coming here has an integrated coordination with vaccine maker, the local government units and the private sector so that includes after sales service,” he said. Meantime, the Go Negosyo which spearheaded the private sector donation drive “A Dose of Hope” said there are ongoing consultations to help Galvez in coming up with an integrated shipment, storage and distribution system for the vaccines. Presidential Adviser on Entrepreneurship Joey Concepcion said the private sector donors would rather live the logistics aspect to the vaccine supplier Astra-Zeneca Pharmaceuticals and the national government to ensure smooth implementation. Concepcion has secured 17 million doses from the private sector that are expected to inoculate 8 million Filipinos in June-July this year. Meantime, Royal Cargo Inc., one of the country’s leading logistics providers, has expanded its cold storage facility at its Paranaque head office so it can accommodate the different temperature requirements of the various COVID-19 vaccines. Earlier, CCAP President Anthony Dizon said the Philippine government is yet to formally tap the country’s cold chain industry for the handling and distribution of the COVID-19 vaccine in the country.            According to Dizon, the industry, “individually and collectively”, has more than enough capacity to participate in the country’s COVID-19 vaccine distribution program.Right now, he said the cold chain industry’s total cumulative capacity stood at 500,000 pallet containers, while the initial 20 million doses of COVID-19 vaccine will consume only less than 200 pallets.            “Our initial estimate is that even if we are called upon to play a role in the storage of the vaccine, it will constitute a small portion of our capacity,” Dizon said.“The industry is just waiting for the government to approach us,” he added.   In a previous report,. said the government is now in discussion with the private sector regarding the state-led distribution of COVID-19 vaccine.             “I’m thankful to the private sector for throwing their support to us, like what they did when we ramped up our testing capacity,” said Galvez.  On the part of CCAP, however, Dizon said no official dialogue has so far taken place between the organization and the government regarding this matter......»»

Category: newsSource:  mb.com.phRelated NewsJan 17th, 2021

Davao City eyes online registration platform for COVID-19 vaccination program

DAVAO CITY (MindaNews / 12 Jan) – The City Government of Davao plans to establish an online platform for Dabawenyos who are willing to sign up for the coronavirus disease (COVID-19) vaccination program of the city, Mayor Sara Duterte said. During her program over Davao City Disaster Radio (DCDR 87.5) on Monday, Duterte said that […].....»»

Category: newsSource:  mindanewsRelated NewsJan 17th, 2021

Shopee issues statement on riders salaries and benefits

Online shopping platform issued a statement on partner riders' salaries and benefits......»»

Category: financeSource:  thestandardRelated NewsJan 13th, 2021

Too little, too late

Twitter, the social media platform that arguably made Donald Trump the most corrosive influence in US politics, took away his online megaphone last week, banning his account permanently because of “the risk of further incitement of violence” following the deadly insurrection at the US Capitol on Wednesday......»»

Category: newsSource:  thestandardRelated NewsJan 11th, 2021

Gatchalian’s credit card hacked to ‘feed a village’

Senator Sherwin Gatchalian now knows the cost of feeding a whole barangay. The lawmaker on Wednesday cried fraud — yes, a credit card fraud — after his charge plate was illegally used by a hacker in an online purchase of food worth a cool P1 million. Four transactions, Gatchalian said, were made by the hacker […] The post Gatchalian’s credit card hacked to ‘feed a village’ appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJan 6th, 2021

Easier tax payments available online

Residents of Quezon City can now pay their taxes to the local government in the comfort of their homes with the online platform QC E-Services. Taxpayers were reminded to maximize the use of the online portal as tax deadline season approaches, and if they wish to avail of the discounts given to early payers. The […] The post Easier tax payments available online appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJan 5th, 2021