#BSP digital payments

The proposed measure aims to create a nationwide digital payments system for transactions with the government and between private groups. The bill seeks to expand the use of digital payments in the country. Tinio said the bill does not clearly state who can access transaction data once digital payments become more common. Now, in a new draft circular, the BSP is seeking feedback from stakeholders on a plan to make person-to-person electronic fund transfers and micro-merchant payments entirely free of charge. The BSP's move comes as part of its broader efforts to encourage Filipinos to adopt digital payment methods and reduce reliance on cash. The BSP has already seen significant progress in this area, with the share of digital payments in total retail transactions increasing to 52.8% in 2023 from 42.1% in 2022. New rules from the Bangko Sentral ng Pilipinas (BSP) and industry guidance from the Philippine Payments Management, Inc. Starting February 1, 2026, the digital bank permanently disabled deposits via linked bank accounts “in accordance with PPMI and BSP regulations,” effectively killing a feature that allowed direct, in‑app cash‑ins from local banks such as BPI. Read more in our articles including "House approves Digital Payments Bill on second reading" and "BSP eyes zero-fee electronic fund transfers, payments to MSMEs".