In December, bank lending in the Philippines saw its most significant growth in two years, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP). Outstanding loans by universal and commercial banks surged by 12.2% year-on-year to P13.1 trillion, compared to P11.7 trillion in December 2022. This marks the fastest pace of lending growth since December 2021 when it
In the era of globalization, there is an increasing demand for seamless, real-time cross-border payments. Chinnapa Reddy Yeruva, an expert in payment systems innovation, delves into the evolving landscape of instant global transactions. He discusses the challenges and technologies transforming payment infrastructures, with a focus on fostering efficiency, transparency, and accessibility. The Growing State of Global Real-Time Payments Current Transactions
When was the last time you left the house without your smartphone? If the mere thought of that makes you feel uneasy, you can join three-quarters of all Americans. Smartphone adoption is long past its infancy. Around 90% of the global population owns a smartphone and we’re using them for more than calling family or scrolling through social media. Mobile
In the dynamic realm of financial services, peer-to-peer (P2P) lending has risen as a significant force, redefining access to capital for both individuals and businesses. As we navigate through 2025, P2P lending has not only flourished but also undergone noteworthy transformations, driven by advancements in technology, evolving regulations, and shifting consumer preferences. This evolution has enabled the industry to meet
As merchants in the UK and US continue to navigate the rapidly changing digital landscape, they are increasingly recognizing the critical role that payment technology plays in driving their growth and success. A recent survey conducted by PXP, an omnichannel global payment platform, in collaboration with Censuswide in January 2025, revealed that 64% of merchants view payment technology not just
As the complexities of the payment landscape continue to grow, modern merchants are facing unprecedented challenges in ensuring smooth transactions. Historically, businesses have relied on simple card transactions, but this is no longer sufficient. With the rise of numerous payment methods, it has become imperative for merchants to support a variety of systems to remain competitive. To address these evolving
Duck Creek Technologies, a global leader in intelligent solutions for property and casualty (P&C) and general insurance, has garnered significant attention by announcing a strategic partnership with Worldpay, a prominent name in payments technology. This collaboration is set to revolutionize the insurance sector by integrating Worldpay’s advanced global payment capabilities into Duck Creek Payments, providing a seamless, end-to-end payment management
In a strategic move that underscores both its challenges and potential, fintech company Paysafe Ltd., valued at $1.4 billion, is contemplating a sale after receiving takeover interest. Paysafe, widely known for processing transactions on a global scale, has appointed a financial adviser to assess its strategic options. This comes despite the firm’s market value dropping by a staggering 80% since
Australia’s e-commerce industry is experiencing substantial growth, driven predominantly by the increasing adoption of digital payments. The Australian market has embraced numerous technological advancements, propelling online shopping to unprecedented levels. Australia’s e-commerce market is expected to grow at an impressive 8% compound annual growth rate (CAGR), reaching a staggering $55 billion by 2025. This remarkable growth trajectory underscores the pivotal
The rapid adoption of digital wallets for various types of transactions is reshaping the global payments landscape. This transformation is prompting governments and financial institutions worldwide to update regulatory frameworks to keep pace with technological advancements. The integration of digital wallets into national financial systems is also influencing the delivery of public benefits, with countries like Australia, Israel, Thailand, and
In recent years, digital innovations in humanitarian aid have been hailed as groundbreaking solutions, yet for refugees in some regions, they have inadvertently increased costs and complicated access to essential funds. This issue has become particularly evident in Kenya’s refugee camps, where the implementation of digital cash transfers has resulted in refugees being charged significantly more than when using traditional
In an ever-evolving financial landscape, the future of credit unions is being shaped by the adoption of instant payments. This trend is quickly gaining traction within financial institutions, with over 200 credit unions already integrated with the RTP® network. These institutions are leveraging the benefits of instant payments to drive growth, enhance member engagement, and create new revenue streams. As
