#bsp digital payment

The Bangko Sentral ng Pilipinas (BSP) is launching its new digital payments in the Philippines with its new Request to Pay (RTP) and Direct Debit services. These new services follow a big jump in digital payments in the Philippines. Last year, digital payments made up 52.8% of all retail transactions, up from 42.1% in 2022. With these launches, BSP aims to push digital payment adoption further. BSP’s work with industry partners highlights the need for a unified approach to digital payments, ensuring all platforms work well together. What do you think about this new Payment service from BSP, Let us know in the comment below. The Bangko Sentral ng Pilipinas (BSP) has introduced new rules aimed at making electronic payment fees fairer and more transparent, while also lifting the moratorium on increases in InstaPay and PESONet transaction charges. According to the BSP, the decision follows the implementation of zero fees for small merchant payments and the establishment of a pricing framework for person-to-person electronic fund transfers. Read more in our articles including "BSP to Launch New Digital Payment Services in the Philippines" and "Banks, e-wallets face new BSP rules on digital payment fees".