Tag: bsp

BSP pursues adoption of national QR code standard for payments

The standard, the BSP said, is necessary for ensuring interoperability of QR-enabled payment and financial services, noting that QR technology has emerged as the most convenient and cost-efficient means of moving funds from one account to another.

PSA sets pilot-testing of national ID until mid-2020

Under the MOA agreement signed between the BSP and the PSA, the central bank will produce within three years 116 million blank cards that will have security features that are said to be are better than those used in making passports.

BSP, SEC crafting policy to regulate online lending firms

Under the Lending Company Regulations Act, investors or entities that offer money for lending as a business need to incorporate and register with the SEC, while the BSP also has jurisdiction over lending firms because of its power to supervise activities like “credit granting,” which is essentially lending.

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