THE announcement by Bangko Sentral ng Pilipinas (BSP) Gov. Nestor Espenilla on Monday that central bank considers linking its relatively new electronic payments system with others in the Asean region an “interesting prospect” is welcome news, and a potential boon to Filipino businesses and individuals.
The BSP oversees the National Retail Payment System (NRPS), a framework created to help shift the Philippine economy from a largely cash-based system to one with a greater percentage of electronic payments. In 2014, according to BSP data, just 1 percent of the more than 2.5 billion monthly transactions in the Philippines were electronic; the BSP is seeking to raise that to 20 percent by 2020.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.