Bangko Sentral ng Pilipinas
PESONet, InstaPay Transactions Up by 46.8% in 2023
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PESONet, InstaPay Transactions Up by 46.8% in 2023

According to the Bangko Sentral ng Pilipinas (BSP), digital transactions continued its growth in 2023 with the volume of the transactions conducted via PESONet and InstaPay increasing by 46.8% in 2023. The two are the first automated clearing houses in the country under the National Retail Payment System, with the ...

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BSP Mandates Full Transition to QR Ph Codes by July 1
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BSP Mandates Full Transition to QR Ph Codes by July 1

Back in March, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved guidelines that help the full transition of all quick response (QR) code-enabled payments to the National QR Code or QR Ph. BSP QR Ph Full Transition Starting July 1, 2023, BSP-supervised financial institutions (BSFIs) acting as ...

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BSP Reminds Public to Inspect Bills from ATMs
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BSP Reminds Public to Inspect Bills from ATMs

The Bangko Sentral ng Pilipinas (BSP) has just reminded the public to regularly inspect bills for authenticity to protect against counterfeiting. The monetary authority suggests looking at the “feel, look, and tilt” of the bills. “Should a banknote dispensed by an ATM be suspected as a counterfeit, the holder is ...

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BSP Orders Lyka to Suspend Payment System
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BSP Orders Lyka to Suspend Payment System

The Bangko Sentral ng Pilipinas (BSP) has just ordered Lyka to stop its operations as an Operator of Payment System (OPS). “It has come to our knowledge that Lyka, a social media platform launched in the Philippines by a Hong Kong-based company, allows its users to purchase, exchange, and use Gift cards in ...

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BSP Updates List of Banks Waiving InstaPay and PESONet Fees
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BSP Updates List of Banks Waiving InstaPay and PESONet Fees

The Bangko Sentral ng Pilipinas (BSP) has just updated its list of banks extending its waiver of fees for InstaPay and PESONet transactions until March 31, 2021. Some of the banks include the Philippine National Bank, Security, Bank, and Union Bank of the Philippines. The Rizal Commercial Banking Corporation (RCBC), ...

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