Published May 12, 2021, 5:36 PM
The central bank’s new peso real-time gross settlement (RTGS) platform of the next-generation Philippine Payment and Settlement System (PhilPaSSplus) – which is expected to go live by June this year – will pave the way for a more efficient and safer flow of funds, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
Diokno announced on Wednesday, May 11, that testing for the PhilPaSSplus has started in the first half of the year. “In the first quarter of 2021, the BSP completed its ‘User Acceptance Test’ and kicked off the industry-wide market rehearsal which will conclude in June 2021. The outcome of the market rehearsal is key to determining if the system will go live in June this year,” he said during his virtual press briefing.
BSP creates Payments and Currency Management Sector, appoints new DG By JON VIKTOR D. CABUENAS, GMA News
Published February 24, 2021 4:07pm The Bangko Sentral ng Pilipinas (BSP) on Wednesday announced the creation of a new department that will manage the interplay of physical currency and digital money, in line with efforts to shift to a cash-lite economy. In a virtual briefing, BSP Governor Benjamin Diokno said the Payments and Currency Management Sector (PCMS) will handle the licensing and supervision of payment system operations and the formulation of strategies and policies for currency and payments system including the digital payments transformation. The PCMS also handles the Philippine Payment and Settlement System and the administration of the digital Personal Equity Retirement Account (PERA), the voluntary retirement saving program that supplements retirement benefits from the Social Security System (SSS), the Government Service Insurance System (GSIS), and emp
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