Bangko Sentral ng Pilipinas main office in Manila. — BW FILE PHOTO
By Katherine K. Chan, Reporter
THE BANGKO SENTRAL ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) have rolled out the Philippines’ first interoperable direct debit facility and introduced a real-time fund transfer facility for businesses.
“Interoperability and lower fees do more than lift transactions. They bring in more people. This is what financial inclusion looks like,” BSP Governor Eli M. Remolona, Jr. said in a statement.
“More Filipinos sending and receiving money digitally. More Filipinos making the network stronger for everyone already on it.”
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