The battle for fintech space

The battle for fintech space

The Philippines has one of the youngest populations worldwide with a median age of 24 according to the Philippine Statistics Authority; a sweet spot for the country’s economic fortunes. It is also an indication that the country is an attractive market for the introduction of digital banking products. With a population base of 103 million, the Philippines has recorded an internet penetration rate of 55.5 percent and a 66.5 percent Facebook penetration rate based on internetworldstats.com data. It also has an amazing 117 percent penetration rate in terms of mobile subscriptions. Despite this, only 2% of retail transactions are […]

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