Report: Tencent, Ant Financial Entry to Boost Philippines Financial Services

Friday, October 12, 2018

By Lisbet Esmael

The entry of Chinese technology giants will propel mobile financial services (MFS) in the Philippines, a Fitch Group unit said.

In a report released on Wednesday, Fitch Solutions said looming competition between Tencent Holdings Ltd. and Ant Financial would bolster the local digital economy.

Photo courtesy of Bruce MacDonald.

Source: The Manila Times (link opens in a new window)

digital finance, digital payments, fintech