Tag "Bangko Sentral ng Pilipinas (BSP)"

BSP and PPMI Set to Launch Three E-Payment Streams Over the Next Two Years

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc. (PPMI) will launch three e-payment streams as part of a push to broaden the use of digital payments over the next two years. BSP’s Governor Benjamin E. Diokno

Read More

BSP Lauds the Government’s Move to Shift to Digital Payments

The Bangko Sentral ng Pilipinas (BSP) says the issuance of the executive order on the adoption of digital payments for government disbursements and collections is a welcome move. The executive order mandates all departments, agencies, and instrumentalities of the government,

Read More

Bangko Sentral ng Pilipinas Employs Machine Learning to Enhance Suptech Efforts

The Bangko Sentral ng Pilipinas (BSP) is exploring applications of machine learning (ML) techniques, particularly in the areas of natural language processing, nowcasting, and banking supervision. Natural language processing at the BSP is used to convert text into data to

Read More

Singaporean Fintech Spenmo Bags Payments License From BSP

Singapore-based payments firm Spenmo announced that it has secured a Operator of Payment System (OPS) license from the Bangko Sentral ng Pilipinas (BSP). This will give Filipinos access to both bill payments and employee spend management in one platform. Aside

Read More

BSP Set to Pilot Wholesale Central Bank Digital Currency Project

The Bangko Sentral ng Pilipinas (BSP) announced that it has decided to pursue the pilot project of a wholesale central bank digital currency (CBDC) as part of its efforts to promote the stability of the country’s payment system. Dubbed Project

Read More

BSP Supports Duterte’s Executive Order to Accept National ID for All Transactions

The Bangko Sentral ng Pilipinas (BSP) supports President Rodrigo Duterte’s executive order to institutionalise the acceptance of the Philippine Identification (PhilID) or Philippine Identification System (PhilSys). This will enable the use of PhilID and PhilSys as sufficient proof of identity

Read More

Fintech Alliance.PH Set to Bolster BSP’s New Financial Inclusion Strategy

The Fintech Alliance.PH remains committed to bolster the Philippines’ government bold moves to ensure more of the unbanked and underserved population will be onboarded into the formal financial system in the next six years. In a hybrid live and online

Read More

BSP Aims to Meet Its Financial Inclusion Target by 2023 With New Blueprint

The Bangko Sentral ng Pilipinas (BSP) has rolled out an updated National Strategy for Financial Inclusion (NSFI) 2022-2028. The NSFI is a blueprint for broad-based growth and financial resilience, and shows the collective commitment of the government, private sector, and

Read More

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

Read More

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

Read More