The Central Business Portal, which will be fully operational by February 14 next year, covers business transactions under the SEC, but is envisioned to also cover the DTI and even the BIR.
Under the MOA agreement signed between the BSP and the PSA, the central bank will produce within three years 116 million blank cards that will have security features that are said to be are better than those used in making passports.
Marking the closure of the first abuse of dominance case in the country, the Philippine Competition Commission (PCC) has disallowed the exclusive deal between Urban Deca Homes and its in-house Internet service provider (ISP) “Fiber to Deca Homes”. The condo firm must also pay a fine of P27.11 million within 30 days.
As a start, PayMaya account holders will soon be able to remit their tax payments to BIR through the Pay Bills feature of the PayMaya app. PayMaya is also working with BIR to extend digital tax payments to other channels, such as through its online portal and its revenue district offices nationwide.
There's an estimated 124 fintech lenders in the Philippines comprising of 75 mobile apps, 40 Web-based, and five brick-and-mortar with tech platform. But less than half of these firms are registered with the government.
The Foundation for Media Alternatives said it is not against the use of data-intensive systems (DIS) but it is calling for a comprehensive planning and analysis of such systems in order to minimize the risks that go along with their use.
