The resiliency route, connected to Singapore, serves as an alternate route in the Asian region and serves as a backup for the NBP in the case of any disruptions in the Pacific Light Cable Network, which is currently connected to the NBP’s cable landing station in Baler and to Los Angeles.
The BSP and payments industry are also collaborating on implementing the PesoNet Multiple Batch Settlement (MBS) by year end; establishing an interoperable bills payment facility by early 2022; and rolling out the request-to-pay facility by Q2 2022.
The Philippines showed strong results in Internet quality (20th) and e-security (30th), but lagged behind in Internet affordability (72nd), e-infrastructure (63rd), and e-government (67th).
Due to the pandemic and decreasing budget for research and development (R&D), the Philippines fell by a notch from 50th place last year to the 51st spot in the 2021 Global Innovation Index (GII) report.
Voyager Innovations, through its financial technology arm PayMaya Philippines, announced on Monday, Sept. 20, that it had obtained the approval of the Bangko Sentral ng Pilipinas (BSP) to establish a digital bank.
Meanwhile, state-run Land Bank of the Philippines said it has onboarded 5.3 million unbanked PhilSys registrants for their own transaction accounts through account opening booths at select PhilSys co-location areas nationwide.
During the hearing, deputy speaker Bernadette Herrera said the DICT lacks disbursements plans on their Spectrum Users Fees (SUF) fund, reportedly at 23 percent in the previous years.
The Department of Information and Communication Technology (DICT) launched on Thursday, Sept. 9, the “Digital Infrastructure Monitoring System: Tower Watch PH”, a monitoring mechanism for tower construction to better streamline permit processing time and accelerate the rollout of connectivity infrastructure in the country.
