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 ...
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. ...
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), ...
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