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Electronic fund transfers hit all-time high in May: Philippines

Electronic fund transfers hit all-time high in May: Philippines
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Bangko sentralFelipe medallaNational retail payment systemSyndigate media incPhilstar daily incRetail payment systemDigital payment transformation roadmapInc providedSyndigate media

Transactions made via PESONet, InstaPay climb further as of May

Transactions made via PESONet, InstaPay climb further as of May
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Electronic fund transfers hit all-time high in May

Electronic fund transfers hit all-time high in May
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Bangko sentralFelipe medallaNational retail payment systemRetail payment systemDigital payment transformation roadmap

Digital payments breach 40% in 2022

The share of digital payments to total retail transactions breached 40 percent last year from 30.3 percent in 2021 amid the efforts of monetary authorities to push digitalization, according to the Bangko Sentral ng Pilipinas.

Bangko sentralFelipe medallaInternational finance corpPhilippine development planNational retail payment systemWorld bankDigital payments transformation roadmapInternational financeOpen finance

BSP to strengthen dispute handling settlement

The Bangko Sentral ng Pilipinas is strengthening the guidelines on reconciliation and dispute handling for settlement and crediting issues in electronic fund transfers to further boost consumer protection.

Bangko sentralFelipe medallaServices consumer protectionNational retail payment systemConsumer protection risk management systemConsumer assistanceFinancial consumer protectionImplement republic actFinancial productsDigital payments transformation roadmap