It’s the end of the week again, and we’re bringing you the hottest business and ecommerce news you may have missed.
BSP, payments industry speed up PESONet electronic fund transfers
Electronic fund transfers made through the PESONet facility will now be processed in two batches in a single day, as regulators move to meet growing demand for faster crediting of money to recipients’ accounts.
The Bangko Sentral ng Pilipinas and Philippine Payments Management Inc., a group of payment industry participants, launched Monday a multi-batch settlement (MBS) facility that will do away with the old system of processing fund transfers conducted via PESONet once in a banking day.
Read more on Philstar.com
Razon’s ICTSI boosts Cavite Gateway operations
Billionaire Enrique Razon Jr.’s International Container Terminal Services Inc. (ICTSI) deployed additional handling equipment at its Cavite Gateway Terminal in Tanza, Cavite province to support an increase in trade and business activity.
The company’s Cavite Gateway is a dedicated container barge terminal that provides an alternate means to ship containers between the Port of Manila to provinces like Batangas, Cavite, Laguna, Quezon, and Rizal.
Read more on Inquirer.net
Making digital trade accessible is ‘complex’ task
THE digital economy needs to have a conducive environment for trading given that it provides new opportunities, in addition to greater participation, to companies of all sizes, the World Trade Organization (WTO) and World Bank (WB) Group said.
In a joint policy note titled “The Role of Trade in Developing Countries’ Road to Recovery,” the WTO and WB said that making digital trade even more accessible “remains a complex endeavor.”
Read more on Business Mirror
Truckers laud PPA’s permitting system
The Confederation of Truckers Association of the Philippines (CTAP) lauded the Philippine Ports Authority (PPA)’s new permitting system, where a single document serves as Accreditation, Permit to Operate and vehicle pass in all PPA and private ports.
CTAP, considered as the biggest trucker’s group in the country, maintained the move is in accordance with the policy direction of the government particularly in the ease of doing business in the country.
Read more on Manila Bulletin Online
NextPay transactions breach Ph1B
Homegrown financial technology (fintech) startup NextPay has breached the P1-billion mark in total transaction volume in 2021, prompting its founders to paint a rosy outlook for 2022.
NextPay’s customer base ballooned by “roughly 20 times over the last 12 months,” serving various small and medium enterprises in industries like consumer goods, technology, healthcare, investment management, automotive, e-commerce, and agriculture.
Read more on Business Mirror
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