More industry players are expected to start using InstaPay — the second automated clearing house under the National Retail Payments System (NRPS) — and subsequently drive up the volume of electronic money (e-money) transfers, a payments management firm said.

In a statement, Philippine Payments Management, Inc. (PPMI) said it was looking at the participation of over 100 Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) as these move toward increased digitalization.