Bangko Sentral ng Pilipinas (File photo / Philippine Daily Inquirer) MANILA, Philippines — The number of low-income Filipinos who own bank or financial accounts has almost doubled in recent years due, in large part, to the continued digitalization of financial services, according to the central bank. In a statement, the Bangko Sentral ng Pilipinas (BSP)
Tag: Filipinos
First, the good news: According to the World Bank, a little more than half or 51 percent of Filipino adults now have financial accounts, a jump from just 34 percent in 2017 and driven mainly by the widespread adoption of digital payments amid the lingering COVID-19 pandemic. “The digital revolution has catalyzed increases in the