Local lender Metrobank announced that it is waiving InstaPay fees for transactions worth P1,000 and below until June 30, 2024 when using its new mobile app.
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 waiver of fees, previously extended only until March 31, 2021, covers online fund transfers facilitated through Landbank’s online banking channels via InstaPay and PesoNet.
Digitalization has benefited Filipinos especially during the pandemic, Bangko Sentral ng Pilipinas (BSP) governor Benjamin Diokno said on Friday, Feb. 19.
In his speech during...
BSP governor Benjamin Diokno said that if the multiple daily clearing of PesoNet transactions works smoothly, then the central bank will allow clearing for these transactions on weekends and holidays.
The Bangko Sentral ng Pilipinas (BSP) has unveiled its Digital Payments Transformation Roadmap 2020-2023, which charts the central bank’s current initiatives and strategy in advancing a digital payments ecosystem.
As some banks are set to resume collecting online transaction fees via InstaPay on Thursday, Oct. 1, Sen. Francis "Kiko" Pangilinan has asked the government to suspend or reduce these fees until the end of the Covid-19 pandemic.
The BSP earlier said that volume of InstaPay transactions during the ECQ in Luzon from March 17 to May 12 rose by 84%, while PesoNet transactions grew by 24%.
