The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management (PPMI) launched “Bills Pay PH” in line with continuing efforts to digitalise the country’s retail payments landscape.
Bills Pay PH facilitates digital transactions between accounts from different payment service providers (PSPs).
Transactions can be performed by scanning or uploading the QR Ph Person-to-Biller (P2B) code, or by manually inputting payment details for the non-QR mode of payment. QR Ph is the national standard for quick response codes.
Aside from greater convenience, customers will have a more economical way of paying bills as there are zero charges or fees incurred when using Bills Pay PH.
Prior to the interoperable facility’s launch, a biller makes separate arrangements with various PSPs to electronically collect payments from their clients.
Customers, meanwhile, had to open an account with their biller’s PSP or line up in business centers to pay in cash.
Through Bills Pay PH, customers who have accounts with AllBank (A Thrift Bank), Asia United Corporation, BDO Unibank, China Banking Corporation, Metropolitan Bank and Trust Company, Philippine National Bank, Queen City Development Bank, Rizal Commercial Banking Corporation, Tayocash, Union Bank of the Philippines, and Universal Storefront Services Corporation Money Services can now make digital payments to almost 50 onboarded billers.
Through Bills Pay PH, customers can now transact with various billers, such as Meralco, Philippine Long Distance Telephone Company, Converge, Malayan Insurance Company, Federal Land, College of Saint Benilde, Far Eastern University, Iloilo Electric Cooperative, and Leyte V Electric Cooperative. The list will grow as more billers are onboarded.
“Through our continued collaboration with PPMI, we expect to broaden the reach of the benefits of digitalisation for more Filipinos, be it individuals or businesses, through more convenient, affordable, efficient, and responsive digital payment services,”
said BSP’s Governor Felipe M. Medalla.
