DTI secretary Ramon Lopez noted that while the manufacturing sector was severely impacted by the pandemic in 2020, it is now leading the economy’s recovery from a recession.
Although the pandemic has paved the way for the rise of electronic payments, the lockdowns imposed by the government are taking a big toll on the local credit card industry.
The total loan package from Landbank will also include an additional short-term loan line as well as a facility for its trade transactions amounting to up to P2 billion.
Kelvin Lester K. Lee, supervising commissioner of the SEC’s Philifintech Innovation Office (PIO), said regulators have a crucial role in managing the benefits and risks associated with fintech.
GOtyme, a joint venture between the Gokongwei Group and Singapore-headquartered digital banking group Tyme, is expected to launch in the second quarter of 2022.
The facility, located at the upper ground floor of One Felicity Center (OFC) along Commonwealth Avenue in Quezon City, will remain open during the enhanced community quarantine from August 6 to 20 for applicants who cannot process their applications online.
Small businesses looking to restart their operations during the pandemic may apply for interest-free, collateral-free government loans by creating an account at www.BayanihanCARES.ph.
