Payments
BSP Issues New Guidelines on E-Payments Settlements
The Bangko Sentral ng Pilipinas (BSP) has issued guidelines on the settlement of electronic payments under the National Retail Payment System (NRPS) Framework. The settlement guidelines provide the responsibilities and minimum requirements to be adhered to by BSP-supervised financial institutions
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Is Payment Friction Challenging Your Business Growth Ambitions?
Digital payments transaction value is growing exponentially and is expected to climb to US$5.6 trillion in Asia by 2025. For companies that use digital payments, user experience, straight-through processing rates and operational efficiency have become primary concerns. Although companies such
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Proposed Bill to Tax Digital Transactions a Major Stumbling Block for Adoption
Fintech Alliance.ph, a coalition of fintech and digital companies, has tagged a proposed bill in the House of Representatives to tax electronic transactions as a major stumbling block to the digital transformation of the country. The House Bill 6765 or
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PayMaya Rolled Out 160,000 Acceptance Points for QR Merchant Payments
Philippines digital wallet PayMaya is accelerating the rollout of the QR Ph P2M (person-to-merchant) payment facility across its enterprise partners. QR Ph P2M is the national QR standard for merchant payments that was fully launched by the Bangko Sentral ng
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RCBC Now Supports BSP’s Roll Out of Retail QR Payments
Rizal Commercial Banking Corporation (RCBC) now supports Bangko Sentral ng Pilipinas’ (BSP) full roll out of the Person-to-Merchant (P2M) payment option for the national quick response standard, QR Ph. RCBC is one of the first participating banks and electronic money
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BancNet Picks FSS to Maximise Billing and Settlement Efficiencies
Financial Software and Systems (FSS), a global provider of integrated payment products and a payments processor, announced a partnership with BancNet, a Philippines-based interbank network connecting the ATM networks of local and offshore banks. FSS’ Business Support Suite enables BancNet
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RCBC’s DiskarTech App Connects to DigiPay’s Network of SMEs
The Rizal Commercial Banking Corporation’s (RCBC) financial inclusion super app DiskarTech has partnered with digital payments solution platform Digipay. Digipay provides small businesses with a platform to grow their income through a network of partners that includes sari-sari stores, internet
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BSP Fully Rolls Out Person-To-Merchant QR Code System
The Bangko Sentral ng Pilipinas (BSP) has fully rolled out the QR Ph Person-to-Merchant (P2M) payment facility with the Philippine Payments Management, Inc. (PPMI). QR Ph P2M simplifies digital payments made by customers to merchants, allows customers to transact with a
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Dragonpay Taps TripleA to Offer Crypto Payments to Filipino Merchants
Philippines’ payments firm Dragonpay announced that it has partnered with TripleA to roll out crypto payments to thousands of merchants in the country. With the low penetration of credit cards and banking services in the Philippines, Dragonpay aims to bridge
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BSP Deepens Industry Partnership to Roll Out Payments Digitalisation Initiatives
The Bangko Sentral ng Pilipinas (BSP) and the payment systems industry are set to rollout an array of initiatives that are expected to further advance payments digitalization and financial inclusion in the country. “The BSP will continue to work with
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