BSP exceeds 2023 digital payments goal

Jul 24, 2024 12:37 am

THE Bangko Sentral ng Pilipinas (BSP) has exceeded its goal of digitalizing 50 percent of retail payments by the end of 2023, on Tuesday reporting that the share had surged to 52.8 percent from 42.1 percent a year earlier.

'From a mere 10 percent in 2018, the volume of retail payment transactions has grown exponentially to 52.8 percent in 2023, surpassing the target set forth in the BSP DPTR (Digital Payments Transformation Roadmap) 2022-2023,' the central bank said in a report.

BSP Deputy Governor Mamerto Tangonan. Photo from Bangko Sentral ng Pilipinas FB page

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