Thursday, March 28, 2024
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EGov Pay transactions grew 467% in 2021, says BSP

The use of EGov Pay, a system that allows digital payment for government services, jumped by 467 percent to over 91,000 transactions at end-2021 from around 16,000 transactions a year earlier, according to the Bangko Sentral ng Pilipinas (BSP).

BSP, payments industry group to launch 3 e-payment streams

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc., (PPMI) said they will launch “Bills Pay”, “Request to Pay”, and “Direct Debit” facilities.

BSP eyeing machine learning to enhance central banking functions

The Bangko Sentral ng Pilipinas (BSP) said it is exploring applications of machine learning (ML) techniques, particularly in the areas of natural language processing, nowcasting, and banking supervision.

BSP slaps sanctions on BDO, UnionBank for hacking incident in Dec.

The Bangko Sentral ng Pilipinas (BSP), however, did not disclose the type or extent of penalties it imposed on the two banks.

BSP to launch pilot project for ‘central bank digital currency’

According to financial website Investopedia, central bank digital currencies are digital tokens, similar to cryptocurrency, issued by a central bank. They are pegged to the value of that country's official currency.

Registry for cash agents launched to promote financial inclusion, digital payments

The Bangko Sentral ng Pilipinas (BSP) and the Alliance for Financial Inclusion (AFI) have jointly launched the “Agent Registry for Cash Agents”, a project that seeks to reinforce the BSP’s twin goals of financial inclusion and payments digitalization.

BSP crafting rules for digital marketplace in PH

The BSP said it is crafting rules that will allow banks and e-wallet firms to establish a digital marketplace where they can partner with financial service providers to offer of financial products and services under a one-stop-shop platform.

BSP fintech head urges recalibration of financial inclusion strategy

Jovelyn Hao, Bangko Sentral ng Pilipinas (BSP)’s FinTech Innovation and Policy Research Group acting head, said the central bank is open to leveraging the gains brought about by fintech innovations amid the pandemic.

Robust measures in place against counterfeit banknotes in ATMs, says BSP

The BSP issued the statement amid reports that some bank ATMs have allegedly dispensed fake bills.

BSP: Digitalization to ease inflation in the long run

By making payments and transactions more convenient, digitalization reduces the costs of production and distribution for businesses, the BSP said.
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