BSP launches new digital payment facility


By Philstar

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc. (PPMI) launched a new digital payment channel as part of continuing efforts to digitalize the country’s retail payments landscape.

BSP Governor Felipe Medalla said Bills Pay Ph would take the central bank closer to its goals of digitalizing at least 50 percent of total retail payments and financially, including at least 70 percent of Filipino adults in the country by 2023.

“Through our continued collaboration with PPMI, we expect to broaden the reach of the benefits of digitalization for more Filipinos, be it individuals or businesses, through more convenient, affordable, efficient, and responsive digital payment services,” Medalla said.

For his part, BSP Deputy Governor Mamerto Tangonan said the launch of Bills Pay Ph would help achieve the twin goals under the central bank’s Digital Payments Transformation Roadmap.

READ full story HERE.