Banking & Finance

PayMaya Philippines, formerly Smart eMoney Inc, a pioneer in financial technology services, and its long-standing partner, leading global payments company Mastercard, have renewed agreement to continue the use of PayMaya mobile payment gateway solutions by Mastercard in the global market.

A top-level Spanish delegation which visited Davao City last week has expressed Spain’s support for President Duterte’s 10-point socioeconomic agenda and lauded his ongoing peace initiatives with insurgent groups as well as his strong campaign against illegal drugs.

By Riza Lozada Monetary offi­cials plan to re­store regulatory incentives for bank mergers and acqui­sitions (M&A) to further strengthen the banking in­dustry, BSP Deputy Gover­nor Nestor Espenilla Jr. said.

The House committee on Banks and Financial Intermediaries has passed the proposal to amend the charter of the Bangko Sen­tral ng Pilipinas (BSP).

The Department of Finance (DOF) recently released its Peo­ple’s Freedom of Information (FOI) manual in keeping with the people’s constitutional right to information and the govern­ment’s policy of full disclosure of its transactions involving public interest, subject to reasonable conditions prescribed by law.

International payments service firm Visa has hosted its first-ever Financial Literacy Day for students in Manila, in cooperation with Teach for the Philippines (TFP) and the Money Museum at Bang­ko Sentral ng Pilipinas.

State pension fund Govern­ment Service Insurance System (GSIS) was chosen as a finalist in the Technology Innovation Award at the 7th World Pension Summit held last November 10 at The Hague, Netherlands.

By Riza Lozada Remittances from overseas Filipino workers (OFWs) grew 4.7 percent in the first nine months to $20 billion after $2.6 billion in money transfers were recorded in September.

Three new directors were named to the board of the state-owned Development Bank of the Philippines (DBP). They are Luis Bonguyan, Emmanuel Galicia Jr., and Rolando Metin vice Daniel Laogan, Reynaldo Geronimo, and Cecilio Lorenzo.

Financing firm First Circle is targeting to more than double its small and medium enterprises (SME) client portfolio by 2017 through the use of technology that provides easy access to collateral-free loans.