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Philippines Payments Landscape Market Report provides detailed analysis of market trends in the Filipino cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and cheques during the review-period (2014-18e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
February 06, 2021 COMPUTER-GENERATED payment reference numbers (PRNs) will be required for short-term loan payments starting April 1, 2021, state fund Social Security System (SSS) said.
Billing months to be covered by this system will be from March 2021 and onwards.
The PRN, a system-generated number corresponding to an individual member’s loan billing statement (self-employed, voluntary, Overseas Filipino Worker) or employer, helps facilitate the immediate and correct posting of loan payments to their matching loan accounts.
SSS President and Chief Executive Officer Aurora C. Ignacio said the SSS started to implement the use of PRNs for short-term member loan payments last year as part of the fund’s Real-Time Processing of Loans (RTPL) program. Transactions covered by the system include salary, calamity, emergency, and restructured loans.
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Rizal Commercial Banking Corporation’s Digital Banking Solution, DiskarTech, Is Now Number 1 Fintech App in the Philippines
DiskarTech, which is
Rizal Commercial Banking Corporation’s (RCBC) digital banking platform, has become the number 1 finance or Fintech app in the Philippines to have launched services in 2020 across distribution platforms in terms of total downloads, according to App Annie (a provider of analytics and mobile data).
DiskarTech had managed to reach 1 million downloads only a month after it was officially launched. The widely-adopted Fintech app has now been installed over 3.5 million times, as of December 31, 2020.
DiskarTech has also managed to reach the top 10 spot among all new finance-related apps for both platforms. The app placed 9th for iOS devices and 10th for Android.