THE BANGKO SENTRAL ng Pilipinas (BSP) is studying the possibility of implementing a “subscription” model for small electronic fund transfers such as e-wallet payments to replace transaction fees.
“Because of what we call network externalities, there should be a subscription fee, which is fixed rather than a fee per transaction,” BSP Governor Eli M. Remolona, Jr. said at a Rotary Club briefing on Thursday.
“We’re still trying to figure out how exactly to do that. We’re talking to GCash, we’re talking to Maya, we’re talking to all the participants and we’re going to agree on something.”
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