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Grocery store accept lyka gems9/1/2023 ![]() ![]() LYKA management has also begun looking for a national head and the best support team for its Philippine operations, according to the platform, in order to carry out the company’s ambitions for the country and to support its vision as a leading social media app on a global scale. Users were also guaranteed by the social media platform that any duties and commitments made by DS to the, as well as their accreditation as a partner merchant, will be honored as quickly as possible. LYKA has said that part of its intention is to register as an operator of a payment system so it can establish its own Philippine operations and staff it with the best people available. ![]() 1049 so that the appropriate entity and true operator of the Lyka payment system register in accordance with the law and regulations,” he said in a briefing. “We are in discussions with a representative of LYKA Philippines to ensure proper compliance with the National Payment Systems Act and BSP Circular No. To date, LYKA is in discussion with the Bangko Sentral ng Pilipinas (BSP), according to Governor Benjamin Diokno. “Instead of challenging the BSP’s decision before a judicial forum, LYKA has determined that the fastest resolution to the matter is to simply commence the registration of its own Philippine entity as an OPS, including setting up its own Philippine operations and equipping it with the best talent possible,” LYKA emphasized in a statement. ![]() This comes after the Bangko Sentral ng Pilipinas (BSP) said that LYKA, not Digital Spring Marketing and Advertising Inc. In a statement, it said that Lyka US and Hong Kong said Digital Spring Marketing and Advertising, the operator and marketing arm of Lyka in the Philippines, is continuously communicating with BSP regarding its OPS application.Īnd just a couple of months ago, LYKA announced that it will register with the Bangko Sentral ng Pilipinas as an Operator of Payment System (OPS). It’s just that registration as an OPS is needed to ensure that the app “functions safely, efficiently, and reliably by itself, consistent with the central bank’s objectives of consumer protection and financial stability, as it involves payments and purchases. It’s legit! I’ve also seen friends using Lyka GEMs and had no issues with it. Who wouldn’t be excited and convinced when the most followed personalities online have shown proofs already. In fact, celebrities and social media personalities have posted photos showing that they were able to purchase cars and other items through GEMs. These GEMs could be used to purchase goods, which is definitely a plus for every user especially now that cashless is mostly preferred. Lyka is a popular app in the Philippines owned by a Hong Kong-based company that allowed people to earn Lyka GEMs or gift cards in an electronic mode for posting, sharing, and liking content. Just when I was about to spend time using it religiously, that’s when I heard the news that Bangko Sentral ng Pilipinas (BSP) ordered to suspend its operations and invited the company to register as an operator of payment system (OPS). Unfortunately, I have so much on my plate already that I can’t keep up with it. When I first learned about LYKA, I immediately created an account not to join the hype but because I see its purpose as useful and promising.
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