The BSP says lower digital transfer fees could encourage financial inclusion, while other barriers such as connectivity, maintaining balances, and financial literacy also need to be addressed.
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Philippine insurance premiums rose 16.2% in the second quarter, while insurance penetration reached 1.96% of GDP, still below the industry’s 2% target.
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TransUnion’s 2026 Credit Perception Index shows growing Filipino confidence in formal credit, with more consumers turning to banks, digital lenders, and credit cards.
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KasKasan Buddies joins CIBI U as a founding partner, supporting efforts to give Filipinos more practical information about credit scores, credit reports, and responsible borrowing.
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BPI BizLink corporate customers can now make PESONet transfers to other banks without fees, reducing the cost of routine business payments and disbursements.
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Wise customers abroad can now receive Philippine pesos through InstaPay and PESONet, while also using QR Ph to pay local merchants directly from their Wise balance.
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Metrobank has added four security features to its mobile app, including Money Lock, Payee Verification, geolocation checks, and a 24-hour cooling-off period.
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HSBC business customers can now send up to ₱500,000 per InstaPay transaction, giving companies more flexibility for payroll, supplier payments, and other business transfers.
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Pag-IBIG Fund’s ₱41.35 billion first-half net income could support member dividends while its higher housing loan limit gives members more financing options.
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The BSP is considering four new digital banking licenses, potentially giving Filipino savers more choices, stronger rates, lower fees, and better digital banking features.
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GCash is now available at more than 200 Lawson branches nationwide, letting customers pay digitally and cash in while potentially earning rewards on everyday purchases.
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UNO Digital Bank has completed account corrections and fund reversals for affected InstaPay transactions, while InstaPay and PESONet services remain temporarily paused.
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