Quick Take: BSP Considers Subscription Fees for Digital Payments to Lower Costs
This move aims to reduce transaction costs and support financial inclusion.
This move aims to reduce transaction costs and support financial inclusion.
BSP said individuals and businesses can leverage both systems when paying or accepting payments.
ESONet is being prepared to handle multiple settlements in a day, starting with 2 – 3 settlements a day.
A government initiative with the BSP at the forefront, the National Retail Payment System (NRPS) promotes interoperability of products and services of financial institutions with one another.