The Bangko Sentral ng Pilipinas (BSP) is taking bold steps to promote a cash-lite economy by proposing the removal of service fees for certain electronic fund transfers. The initiative, outlined in a draft circular, aims to make person-to-person transfers and payments to micro, small, and medium enterprises (MSMEs) ...
According to the Bangko Sentral ng Pilipinas (BSP), digital transactions continued its growth in 2023 with the volume of the transactions conducted via PESONet and InstaPay increasing by 46.8% in 2023. The two are the first automated clearing houses in the country under the National Retail Payment System, with the ...
In case you missed it, Union Bank of the Philippines (UnionBank) announced that it will waive InstaPay fees until November 11, 2023. UnionBank InstaPay Fees Waived Yes, you read that right. InstaPay fees for fund transfers worth PHP 1,000 and below until November 11, 2023 for UnionBank Online app users will be ...
Transferring fees to other banks or e-wallets for small transactions are usually accompanied by a fee, which may seem small at first, but can pile up to a substantial amount. That's why BPI has taken the initiative to make it more convenient and lessen the burden on consumers. BPI Waives Fees for InstaPay ...
According to the latest data from the Bangko Sentral ng Pilipinas (BSP), electronic fund transfers that went through PESONet and InstaPay have already hit PHP 3.81 trillion in the first four months of 2023. This figure in the same period last year was just PHP 2.92 trillion; that's a 30.1% increase year-to-year. ...
Grab announced that InstaPay transactions from GrabPay to other banks and e-wallets will have a transfer fee starting July 18, 2022. Starting July 18, there will be an additional PHP 15 transfer fee. However, you may still send to other GrabPay wallets free of charge. This fee is subject to the approval of ...
The Bangko Sentral ng Pilipinas (BSP) has just updated its list of banks extending its waiver of fees for InstaPay and PESONet transactions until March 31, 2021. Some of the banks include the Philippine National Bank, Security, Bank, and Union Bank of the Philippines. The Rizal Commercial Banking Corporation (RCBC), ...
Grab recently announced that it's now allowing seamless and real-time tracking of cash-in and cash-out transactions to and from the GrabPay wallet, . With the rising need for cashless transactions due to the COVID-19 pandemic, GrabPay is doubling down on its efforts to provide cashless convenience and safer payments ...
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