It’s another end of the week, and here are the top business and ecommerce news that matter to you and your hustle!
PH digital banking transactions surged in H1
DIGITAL banking in the Philippines is taking root as the volume and value of electronic payments and financial services processed through this nascent segment reached 1.4 million transactions and P8.45 billion, respectively, during the first semester of 2022.
According to the Bangko Sentral ng Pilipinas (BSP), all six of the so-called neobanks to which it granted licenses have now been given the green light for full operation.
Read more on Inquirer.net
Filipino adults with bank accounts jump to 56%
THE share of Filipino adults with bank accounts soared to 56 percent in the first quarter from 29 percent in 2019, according to the 2021 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas (BSP).
The rise of account ownership was attributed to the uptake of e-money accounts, which jumped to 36 percent last year from eight percent in 2019. This became the most common type of account among adults in the middle class and low-income population, as well as with those aged 15 to 49 years old.
Full story on PhilStar.com
PLDT expanding capacity in 3 data centers to address increasing demand
THE PLDT group announced on Wednesday that it is currently expanding capacity in three of its existing data center facilities, with the goal of adding 3,000 racks by the end of 2023. At the same time, the group is building its 11th Vitro Data Center in Sta. Rosa, Laguna.
“We are looking forward to opening our VITRO Santa Rosa Hyperscale Data Center. If you look at enterprises in the Philippines, there is a very clear need to digitize their operations in order to drive business agility,” ePLDT President Victor S. Genuino said.
More details on Business World Online
Local messaging platform to link SEA
WEB-BASED multi-channel messaging platform m360 is on track to be the messaging company that creates the largest connection point between companies and customers in Southeast Asia, announced Chief Operating Officer Ramon Hirang.
Already, m360 has increased its direct customer base by 33 percent to 1,295 clients and achieved 160 percent of its budget in the first half of 2022.
Read more on the Manila Bulletin
Malaysia seeking bigger trade with PH
THE Malaysia External Trade Development Corp. (Matrade), together with the Ministry of Entrepreneur Development and Cooperatives and the Small, Medium, Enterprise Development Bank, is eyeing business partnerships and opportunities in the Philippines.
“Our purpose here is to renew our friendship with the Philippines and continue our partnership as we help each other’s economy grow more coming out of the pandemic,” Abu Bakar Yusof, deputy chief executive officer of Matrade Exporters Development, said.
Full story on The Manila Times
UnionBank becomes first Philippine bank to offer mobile cryptocurrency trading
UNION BANK of the Philippines (UnionBank) is poised to become the first universal bank in the country to offer virtual asset exchange services through its mobile banking application.
The recently unveiled feature is part of UnionBank’s “Tech-Up Pilipinas” advocacy, which aims to promote digital literacy among Filipinos, in line with its goal of enabling inclusive prosperity in the country.
Read more on Inquirer.net
Regulators back measure seeking to institutionalize digital asset rules
REGULATORS are backing a measure seeking to institutionalize rules covering digital assets like e-money and cryptocurrency for improved monitoring and consumer protection.
Under the bill, the Bangko Sentral ng Pilipinas (BSP) is tasked as the lead agency for e-money, while the Securities and Exchange Commission (SEC) shall be in charge of virtual assets. This will include licensing issuers of these products or operators of related businesses.
More on Business World Online
Business Insights & ECommerce Tips
The Ninja Van Blog provides business insights, industry trends, Marketing and Branding tips, and weekly curated news related to business and ecommerce. Our blog is here to help ecommerce businesses, MSMEs and DTC (direct-to-customer) companies grow their business and reach their brand goals.Subscribe to our Ninja Van blog newsletter by registering below (scroll to the bottom of this page to sign up!). For comments and inquiries, send us an email at ph-commercial-content@ninjavan.co.
