Fintech and payments news from Philippines.
Four more Philippine banks are expected to switch on Apple Pay around November, taking the total to eight, Mastercard’s country manager says. More lenders should follow in early 2027, as BSP data show digital payments now make up most retail payments.
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PayNet has switched on outbound DuitNow QR payments through Ant International’s Alipay+, letting Maybank, CIMB and Hong Leong Bank customers scan and pay in China, Hong Kong, South Korea, the Philippines and Laos straight from their Malaysian banking apps, with Bank Islam joining soon.
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The Philippine central bank says talks with British fintech Revolut over a digital banking licence are ongoing and very active. Revolut is weighing digital bank and e-money licences, in a market with seven digital banks and a cap of 10.
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GCash operator Mynt began trading on the Philippine Stock Exchange after a record 53 billion peso IPO, valuing the e-wallet giant at about 442 billion pesos. Here is what the listing means for the Philippines and for other Southeast Asian payment firms eyeing the market.
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Manila-based Salmon, which runs a BSP-licensed rural bank, has secured US$140 million in investor commitments and bond proceeds to expand its credit line and in-store lending and to launch motorcycle and small-business loans across the Philippines.
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