Try GOLD - Free
BSP to deploy more digital payment tools
The Philippine Star
|December 01, 2023
The Bangko Sentral ng Pilipinas (BSP) is deploying more digital payment tools as it ramps up initiatives to achieve its twin goals under its Digital Payments Transformation Roadmap.
BSP Deputy Governor Mamerto Tangonan said they are working closely with the payments industry to offer consumers and businesses the tools to seize opportunities in the digital economy.
"Through strategic collaborative efforts with our industry partners, we can expand access to digital payment tools that are truly responsive to businesses' needs in the new economy," Tangonan said during a forum held recently.
Tangonan said upcoming digital payment initiatives include the re-quest to pay facility and direct debit facility.
According to the BSP official, the request to pay facility would empower payees to initiate collections by simply sending a request to pay, while the direct debit facility would enable customers to more efficiently manage recurring payments, such as monthly rentals, loan amortization, and insurance premiums.
This story is from the December 01, 2023 edition of The Philippine Star.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Philippine Star
The Philippine Star
Shame and scandal in the Senate
Just when you think it can’t get any worse, it does. One thing you can count on our politicians to do is to plumb the depths of idiocy - and even be proud about it.
3 mins
May 19, 2026
The Philippine Star
Stage set for 2026 World Slasher Cup 2
The second edition of the World Slasher Cup 2026 opens with over 275 entries competing for the ultimate cockfighting crown from May 19 to 25 at the Smart Araneta Coliseum.
1 min
May 19, 2026
The Philippine Star
Banks lift profit to P104.8 B in Q1
Philippine banks remained profitable in the first quarter, with combined net income rising by 2.9 percent to P104.82 billion from P101.9 billion a year ago, driven largely by stronger lending income and expanding asset bases despite higher provisions for potential loan losses.
1 mins
May 19, 2026
The Philippine Star
Ports watched amid Ebola outbreak
The Department of Health (DOH) is monitoring air and seaports after the World Health Organization (WHO) declared the Ebola virus outbreak in the Democratic Republic of Congo and Uganda a global health emergency.
1 min
May 19, 2026
The Philippine Star
Stocks fall, peso hits fresh record low
Philippine financial markets opened the week on a cautious note, with stocks declining and the peso sinking to another record low as elevated oil prices, a strong dollar and fragile investor sentiment continued to weigh on local assets.
1 mins
May 19, 2026
The Philippine Star
Fiduciary
Some of our legislators seem to imagine we have a centrally planned economy. Because of that, they legislate stuff that undermine the efficient operation of our market — undermining stability and closing opportunities for progress.
3 mins
May 19, 2026
The Philippine Star
Ceasefire
Some may call it a fragile ceasefire but for the minority shareholders of companies in the Lopez Group, it is a welcome break from the ugly and very public battle that erupted among the Lopez cousins.
3 mins
May 19, 2026
The Philippine Star
Yulo banners OAJLP Gymnastique in golden show
The Carlos Yulo roadshow is back in France. This time, it visited Amiens, a gothic, literary-rich city 120 kilometers north of Paris where the pocket-sized Filipino dynamo captured a pair of Olympic gold medals two years back.
1 min
May 19, 2026
The Philippine Star
THERE'S MORE TO CELEBRATE FOR CUP OF JOE
After a historic, successful year that is the envy of even veteran performers, the alt-pop band Cup of Joe (COJ) is looking forward to more reasons to celebrate.
2 mins
May 19, 2026
The Philippine Star
Turbocharging the Filipino bourse
The Philippine economy is one of the fastest growing in Asia. Our population is young and digital.
3 mins
May 19, 2026
Translate
Change font size