bsp nrps

The Bangko Sentral ng Pilipinas (BSP) finally moves closer to their goal of providing a reliable electronic retail payments system in the Philippines with the recent launch of InstaPay. The new payment method is an automated clearing house (ACH) under the National Retail Payment System (NRPS) Framework. InstaPay became active last April 23, it followed BSP's first ACH called PESOnet, launched back in November 2017. The Bangko Sentral ng Pilipinas (BSP), under BSP Circular No. The BSP has decided to refer to virtual currencies as defined under Circular No. Meanwhile, the BSP also recognizes opportunities and risks in the use of cryptocurrencies. The BSP's recent policy amendments have focused on improving its regulatory and supervisory response to money service business activities harnessing the technology of virtual currencies (VCs). The BSP noted that similar to VCs, VAs are not issued nor guaranteed by any jurisdictions and do not have legal tender status. Read more in our articles including "BSP launches InstaPay" and "OnePlus Watch Lite now official".