The Bangko Sentral ng Pilipinas (BSP) has amended the Guidelines on Electronic Money (E-money) and the Operations of Electronic Money Issuers (EMI) in the Philippines amid increasing IT-related risks and to better protect the interests of e-money account holders.
Tagbilaran City has joined a growing roster of LGUs that are implementing “Paleng-QR Ph Plus,” a nationwide program that promotes digital payments in public markets, tricycle hubs, and other establishments.
E-wallet provider and crypto exchange platform Coins.ph announced on Tuesday, Dec. 13, that the Bangko Sentral ng Pilipinas (BSP) has granted it an Advanced Electronic Payment and Financial Services (EPFS) license covering the operation of the Coins Pro exchange.
The number of Personal Equity and Retirement Account (PERA) contributors almost tripled two years after the Bangko Sentral ng Pilipinas (BSP) launched the Digital PERA in September 2020.
The approved guidelines set out the supervisory expectations of the Bangko Sentral ng Pilipinas with regard to corporate and risk governance of digital banks as well as the applicable prudential regulations on capital, leverage, and liquidity.
Recently launched in Baguio City, Paleng-QR PH promotes the digitalization of transactions by market vendors, shopkeepers, and tricycle drivers across the country through QR PH, the Philippine standard for using quick response (QR) technology for e-payments.
The Bangko Sentral ng Pilipinas (BSP) said the combined value of PesoNet and InstaPay transactions went beyond P5.37 trillion during the first seven months of 2022, a 43-percent increase from the values recorded during the same period last year.
The BSP said it recently completed the Advanced SupTech Engine for Risk-Based Compliance (ASTERisC*), which will soon be deployed among selected BSP Supervised Financial Institutions (BSFIs).
The Bangko Sentral ng Pilipinas (BSP) recently issued Certificates of Authority (COA) to Operate to two additional banks, allowing them to proceed with full operations as digital banks.
