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...
    #PrayForMarawi: Things To Know About The Declaration of Martial Law in Mindanao
    May 24, 2017
    50% OFF Promo for First Time Clients at Junca Salon
    May 23, 2017
    Russians show interest in going to PH to learn English
    May 23, 2017
    #AUPHWeAreMates: Celebrating 70 years of PH-AU relations
    May 22, 2017
    BillboardPH launches PlaySound Digital Music Exhibit
    May 22, 2017