Finance

BPI CyberProtect Conference: Cross-collaboration from stakeholders urged

AFASA law, more advanced practices tackled

Published

July 31, 2025

GadgetMatch

BPI held its latest 2025 BPI CyberProtect Conference in the Philippines. The event gathered more than 230 leaders from government agencies and private organizations.

The event aimed to champion stronger consumer protection and cybersecurity measures. It also served as a platform to advance cross-sector collaboration in safeguarding Filipino consumers in an increasingly digital financial ecosystem.

Anti-scamming law

One of the conference’s highlights is discussing the implementation of the recently signed Republic Act No. 12010. This law is also known as the Anti-Financial Account Scamming Act (AFASA).

The law has an integral role in deterring financial fraud and reinforcing confidence in digital banking, as noted by the Philippines’ Central Bank’s Deputy Governor Elmore Capule.

First, AFASA criminalizes fraudulent activities involving bank accounts, e-wallets, and other digital financial platforms.

These include schemes such as money muling and social engineering tactics used to deceive account holders. AFASA is also designed to enhance consumer protection and uphold the integrity and trustworthiness of the country’s financial system.

All in all, implementation of the law is about building a robust and responsive framework to protect financial consumers.

The event also bared that in 2024, the Cybercrime Investigation and Coordinating Center (CICC) agency handled 10,004 cybercrime complaints, This is a sharp rise from 3,317 cases the year before.

Consumer fraud also accounted for 35% of all reports with a total financial loss of nearly PhP 198 million (roughly US$ 3,410,619).

What the Philippines can learn from Singapore

Interestingly, the Philippines can also learn a simple trick that is being already used by major banks in Singapore.

During his talk, Philip Kwa, Master in Cybersecurity at the Asian Institute of Singapore, highlighted how Singaporean banks like OCBC, DBS, and UOB have a “Money Lock” feature.

Essentially, this extra layer of security lets clients lock their funds on their existing current or savings account. It prevents funds from being moved digitally from client to intended recipient.

After transferring funds digitally — presumably a large amount — from one’s account to a recipient, the latter can only receive it once the sender verifies their identity through either a phone call or ATM.

Mr. Philip Kwa.

The sent amount cannot be released even though it has already been sent. The sender must accomplish the extra verification step physically first.

That way, senders are assured of their funds not being lost to scammers right away should there be lapses in judgement and the like.

In addition, the island also has dedicated physical Anti-Scam Centers for real-time intervention, funds tracing, and swift freezing of accounts and processing of orders.

Meanwhile, all government SMSes only come from a “gov.sg” sender ID. It also begins with the full name of the agency that sent it.

Lastly, Singapore’s enhanced SIM card registration includes a multi-layered approach to disrupt scam calls.

This includes blocking robocalls using pattern recognition technology and identifying international scam calls.

AI plays a role

Rep. Brian Poe Llamanzares of the Philippines 20th Congress

Furthermore, Rep. Brian Poe Llamanzares of the Philippine House of Representatives also delivered a talk centered on how AI can help play a part in scam prevention.

Poe Llamanzares also mentioned ways how the government can use AI to educate consumers, starting from the grassroots level through barangays or the smallest political and geographical unit under the Philippine government system.

BPI, for its part, uses fraud detection and real-time monitoring, as well as two-factor authentication. AI chatbots are also utilized for customer education and scam alerts.

Moving forward, the conference urged cross-collaboration from all stakeholders for sustained cooperation. This is to help the entire digital financial ecosystem stay ahead of possible risks in this day and age.

Finance

New luvit card offers flexible Buy Now, Pay Later installments

Simple application process, borrow up to PhP 200,000

Published

May 13, 2026

GadgetMatch

FinVolution Group has unveiled the luvit card, making everyday payments accessible and flexible for users through a Buy Now, Pay Later approach.

The rollout marks the company’s move into card-based solutions, bringing installment-enabled transactions into a format that works both online and in physical stores — whether locally or abroad.

To get started, simply download luvit via the App Store or Google Play. Signing up on the app only needs minimal requirements and fast approval.

Once approved, users can start using the Mastercard-powered physical luvit card for a range of expenses. This includes daily purchases, bills, travel bookings, and other lifestyle spendings.

Users can borrow from PhP 2,000 to PhP 200,000 (~US$ 32.56 to ~US$ 3,255.80).

The Buy Now, Pay Later card is designed to accommodate various financial needs. Users can repay in installment options that work for them. In addition, a 0% interest installment is available for the first 40 days.

Finance

Atome now allows in-app bill payments with Bayad partnership

Pay for utilities, internet, government contributions directly within the app

Published

April 22, 2026

GadgetMatch

Atome Philippines has partnered with Bayad to allow users to pay for utilities, internet, and government contributions directly within the Atome app.

The integration with the country’s largest bill payment aggregator is designed to help Filipinos manage household budgets more easily without the need for extra steps.

Atome users no longer need to switch from one app to another, nor visit websites to handle monthly bills. Bayad’s extensive network of billers and service providers can be accessed through the platform.

As such, electricity and water bills, as well as government fees, can be paid for directly via the app.

Beyond convenience, users will likewise earn Atome rewards points on every utility bill payment they make.

The partnership between Atome and Bayad is an important step in financial inclusion in the Philippines.

It gives unbanked and underbanked individuals a simpler and more rewarding way to manage essential household expenses.

Atome is known popularly for its Buy Now, Pay Later (BNPL) offering. It has tie-ups with retailers like fashion, beauty, travel, and more.

The digital financial service platform also offers a Mastercard-powered BNPL card, as well as petty cash loans.

Finance

Maya waives withdrawal, InstaPay transfer fees for Middle East remittances

Until April 10, for families relying on remittances from loved ones in the region

Published

March 26, 2026

GadgetMatch

Maya is extending support to Filipino families receiving remittances from loved ones working in the Middle East. This is through rebates for withdrawal and InstaPay transfer fees until April 10 as developments continue to unfold across parts of the West Asian region.

From March 23 until April 10, Maya users who receive remittances from select Middle Eastern countries can unlock a set of transaction rebates. This is designed to help them access and use the funds more easily.

Select countries include: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, Lebanon, and Jordan.

The region remains one of the Philippines’ most important remittance corridors. There are an estimated 2.4 million Filipinos residing in the region, based from Department of Foreign Affairs (DFA) data.

These overseas-based citizens contribute over US$ 6.4 billion in remittances in 2025 alone, based on preliminary Bangko Sentral ng Pilipinas (BSP) data.

Eligible Maya users who activate Maya XP will receive the following rebates:

ATM withdrawals: PhP 18 credited back per transaction
InstaPay transfers: PhP 15 credited back per transaction

In addition, eligible users may also enjoy cashback on mobile load purchases. The discount ranges from 1% to 3%, depending on their Maya XP level.

After receiving a qualifying remittance, eligible users will receive an invitation to activate
Maya XP. The invite will pop up within one to three days.

Eligible users can activate their Maya XP directly within the Maya app by accessing the Maya XP section in the Wallet Dashboard or Profile page and completing the quick “Get started” process, including providing the required consent.

Once activated, users can immediately begin enjoying rebates on eligible transactions.