QRPH transaction fees

GCash is helping micro-merchants by waiving QRPH transaction fees and merchant discount rates (MDRs) for those who use the scan-to-pay service until the end of 2023. This is a significant move since e-wallets and other payment platforms charge fees as high as 2% for the use of their cashless transaction services such as QR-based and card payments. “We are thrilled to announce that LandBank is waiving transaction fees for small-value online fund transfers to other banks," “This is our holiday gift to our valued customers, as we continue to promote safe and convenient digital transactions,” -- Lynette Ortiz, LandBank President and CEO   The Bangko Sentral ng Pilipinas (BSP) has said that it wants banks to remove fees incurred from small bank-to-bank transactions, as a means to encourage more users to transition to online payment methods and digital banking. Medalla said that the Php 15 to Php 20 fees that are normally added on top of a specific bank transaction may "discourage the use of digital payments for small transactions." Digital bank transfers usually make use of Electronic Fund Transfers or EFTs, which allow users to transfer money to another bank or e-wallet from just their smartphone. While EFTs such as InstaPay and PESONET undoubtedly make bank transfers more convenient, the fees — either from the EFT or the bank or e-wallet itself — can add up the more transactions you make. Read more in our articles including "GCash waives QR transaction fees for micro-merchants" and "LandBank removes daily transaction limits and waives fees for online transfers PHP 1,000 or less".