London Fintech Challenges Manila on Remittance Fee Disclosure
Wise pushes central bank talks as Philippines grapples with opacity in cross-border transfer costs that affect billions in annual flows
Every BriefAsia story tagged Remittances, newest first.

Wise pushes central bank talks as Philippines grapples with opacity in cross-border transfer costs that affect billions in annual flows

The Philippine remittance firm's board has greenlit a binding term sheet with Surepay Technologies while disclosing a major shift in ownership structure.

Cash transfers from overseas Filipinos reached their peak for the first half of 2026, though growth continues to moderate amid shifting labor markets across Asia and the Middle East.

Hidden conversion spreads on cross-border payments cost six times more than previous estimates, according to international payments provider

Philippines' largest branch-based payments provider partners with Fireblocks to build blockchain settlement rails across 3,500 locations, targeting near-instant cross-border transfers at lower cost

The partnership connects MBV's Swift infrastructure to TerraPay's network spanning 156 countries, enabling instant outbound transfers to bank accounts and digital wallets.

An illegal money transfer operation in Little India processed millions for migrant workers, exposing gaps in financial access for the city-state's foreign workforce.