March 12, 2017

BSP, banks pursue e-payment system

  • HOME
  • Blog
  • BSP, banks pursue e-payment system
  • MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and stakeholders in the banking industry are pursuing the inter-operability among major players as part of the National Retail Payment System (NRPS).

    BSP Deputy Governor Nestor Espenilla Jr. said the NRPS project basically creates a shared clearing and settlements system allowing banks to offer digital financial services in an inter-operable way.

     “It means from one single account, you can do all of your transactions and deal with anyone. Unlike today, although there’s electronic banking today, they’re generally in silos, you transact within the ecosystem defined by the bank and its related companies. They don’t interact with one another. With this in place, you’ll be able to cross those barriers,” he said.

    Espanilla said an agreement among the major players of the NRPS would be signed within the month for the electronic fund transfer as well as instant payments scheme.

    View full story here via PhilStar

    Recent Comments
    What do you think about this article?
    ★★ ★★★ ★★★★ ★★★★★

    *

    You might also like...
    Filipino blogger Kryz Uy gets an authentic  HK experience thru TLC’s A Taste of Hong Kong
    August 22, 2017
    Filipina Marathoner Wins First Gold for PH in SEA Games
    August 22, 2017
    Getting a Japan Visa Made Easier with Friendship Tours
    August 22, 2017
    Filipino Ballerina, Crowned as best ballerina at the Asian Grand Prix International
    August 21, 2017
    First-of-its-kind Chimera Land to Open in Malolos City
    August 21, 2017