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.
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%.
The BSP has given BSP-supervised financial institutions (BSFIs) not later than March 31, 2019 to ensure that all its frontline personnel have the necessary know-how to implement fund transfer services PesoNet and InstaPay.
Online shopping site Lazada Philippines has expressed optimism on its use of PesoNet, an interbank electronic funds transfer service.
PesoNet is the first automated clearing house (ACH) under the Bangko Sentral ng Pilipinas? (BSP) National Retail Payment System (NRPS) program.