Philippines:
E-Money and Electronic Payments: Foreign Investment In The Philippine Financial Technology Sector
24 May 2018
Morrison & Foerster LLP
To print this article, all you need is to be registered or login on Mondaq.com.
The combination of low levels of financial inclusion, a steadily
growing GDP and high smart phone usage has resulted in the
Philippines becoming a key market in Asia for venture capital and
private equity investors, as well as strategic players looking for
investment or product rollout opportunities in the FinTech sector.
The Philippine government has recognized the important role FinTech
plays in financial inclusion and economic development and has, over
the last several years, pursued several regulatory and policy
initiatives to help create a cash-light society.
With a poor financial services infrastructure and only 28% of
Filipinos having an account at a traditional bank, the FinTech
sub-sectors which have seen the greatest levels of growth are
electronic payments and lending.
Read our client alert.
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
© Morrison & Foerster LLP. All rights reserved
POPULAR ARTICLES ON: Technology from Philippines
Virtual Asset Services Provider Legislation
Conyers
The Cayman Islands' position as a hub for the establishment of FinTech structures has been enhanced by the introduction in 2021 of the Virtual Asset (Service Providers) Act (VASP Act) as amended.
Crypto Regulation In Offshore Jurisdictions
MK FINTECH PARTNERS LTD
In this article, Max Frilot outlines crypto regulation in offshore jurisdictions. Specifically, in the Seychelles, the British Virgin Islands (BVI), and the Cayman Islands.
Cogs Start Turning On MiCAR Implementation
MK FINTECH PARTNERS LTD
In 2024, MiCA starts becoming enforceable across the EU, establishing it as a first mover in crypto legislation. The move has even garnered praise from the likes of Coinbase, in an industry that has often been wary of government intervention.