BSP updates e-payment guidelines

Further enhancing public trust in digital transactions

Approved BSP amendments aim to strengthen the e-payment system

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has approved amended guidelines to further enhance the security and efficiency of electronic payments in the country. The move is aimed at boosting public confidence in digital transactions and fostering the growth of the e-payment ecosystem.

The updated guidelines include measures to strengthen the risk management framework for e-payment service providers, enhance the protection of consumer data, and improve the overall resilience of the e-payment system. The BSP also announced plans to increase the frequency of PESONet batch settlements to support the growing volume of e-payments in the country.

The BSP's initiatives are part of its ongoing efforts to promote financial inclusion and digitalization in the Philippines. The central bank believes that the updated e-payment guidelines will contribute to the safe and efficient adoption of digital payments, making it more convenient for Filipinos to conduct financial transactions.