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IT upskilling crucial for PH firms to become globally competitive

IT upskilling crucial for PH firms to become globally competitive ....

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Philippines: Digital payments surge 5,000% in the time of COVID

Philippines: Digital payments surge 5,000% in the time of COVID
gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.

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AllBank offers QR code payment system – Manila Bulletin

Published May 10, 2021, 5:00 AM
AllBank, a growing thrift bank with 17 branches, is joining the move to a cash-light environment through the use of QR or quick response code to electronically transfer money between individuals and merchants.
“The rapid shift to digital payments due to the pandemic provided the momentum for AllBank to modernize its payment mechanisms,” the bank said.
It added that, “The digital payment system has a huge potential and is seen to greatly benefit merchants, such as AllDay Supermarket.”
Photo credit: https://www.allbank.ph
“This COVID-19 pandemic has caught all of us by surprise and very much accelerated the pace of digital transformation in our country,” AllDay Director Manuel Paolo Villar said in his message during the launch of the national QR code, led by the Bangko Sentral ng Pilipinas(BSP), Philippine Payments Management, Inc. (PPMI) and Bancnet last week. ....

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BSP taps digital finance expert to head new unit for 'interplay' of cash, e-money

BSP taps digital finance expert to head new unit for 'interplay' of cash, e-money
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BSP creates Payments and Currency Management Sector, appoints new DG

BSP creates Payments and Currency Management Sector, appoints new DG
By JON VIKTOR D. CABUENAS, GMA News
Published February 24, 2021 4:07pm
The Bangko Sentral ng Pilipinas (BSP) on Wednesday announced the creation of a new department that will manage the interplay of physical currency and digital money, in line with efforts to shift to a cash-lite economy.
In a virtual briefing, BSP Governor Benjamin Diokno said the Payments and Currency Management Sector (PCMS) will handle the licensing and supervision of payment system operations and the formulation of strategies and policies for currency and payments system including the digital payments transformation.
The PCMS also handles the Philippine Payment and Settlement System and the administration of the digital Personal Equity Retirement Account (PERA), the voluntary retirement saving program that supplements retirement benefits from the Social Security System (SSS), the Government Service Insurance Syst ....

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