PayMaya and Novi were included in BSP’s list of Virtual Asset Service Providers. BANGKO SENTRAL NG PILIPINAS — PayMaya and Facebook‘s Novi were included in the BSP’s list of Virtual Asset Service Providers (VASPs). Virtual Asset Service Providers (VASPs) referred to any entity that offered services or engaged in activities that provided a facility for … Read more
BSP urged the public to carefully inspect banknotes dispensed by ATMs. BSP — The Bangko Sentral ng Pilipinas on Tuesday urged the public to carefully inspect banknotes dispensed by ATMs (automated teller machines). BSP reminded Filipinos to regularly inspect banknotes they received for authenticity through the “feel, look, tilt” approach as a precautionary measure against … Read more
Paper cheques will not go away, according to BSP. BSP — The Bangko Sentral ng Pilipinas said that it didn’t expect written or paper-based cheques to totally disappear in the Philippines “at least not within the next three years”. During the launch of the PESONet Multiple Batch Settlement (MBS) last January 24, BSP Governor Benjamin … Read more
The BSP has approved the rules on the batch settlement of e-payments. BSP — The Bangko Sentral ng Pilipinas has approved the rules and guidelines on the batch settlement of e-payments (electronic payments). The central bank has also approved the new provisions for Clearing Switch Operators (CSOs) of the automated clearing houses (ACH), PESONet and … Read more
Digitalization was seen to ease inflation in the Philippines “in the long run”, according to BSP. BSP — On Tuesday, the Bangko Sentral ng Pilipinas said that digitalization was seen to ease inflation in the country “in the long run”. The central bank said that the wider adoption of digital payments in the Philippines was … Read more
BSP was working to establish a national approach against cyber fraud. BSP — On Tuesday, the Bangko Sentral ng Pilipinas said that it was working with financial institutions and industry players in order to establish a national approach against cyber fraud. Phishing incidents in the Philippines remained the top cybersecurity concern for BSFIs (BSP-supervised financial … Read more
The NBI will pursue the filing of criminal cases against the brains behind bank hacking incident, according to BSP. BSP — On Monday, an official of the Bangko Sentral ng Pilipinas said that the National Bureau of Investigation (NBI) will pursue the filing of criminal cases against the brains behind the series of bank hacking … Read more
The BSP was eyeing for more regulatory incentives for banks to boost sustainable finance shift BSP — The Bangko Sentral ng Pilipinas said that it was eyeing more regulatory incentives for banks that “embrace” sustainable financing. According to BSP Governor Benjamin Diokno, the use of preferential rediscount rates or the provision of higher loan values … Read more
A House panel has approved a bill regulating e-wallet and online banking A House panel has approved in principle a bill that will regulate the use of e-wallets and bank accounts in online transactions in a bid to address the proliferation of cybercrimes. The House Committee on Banks and Financial Intermediaries has endorsed for plenary … Read more
BSP Governor Benjamin Diokno said that he’s confident that the Philippines could achieve its growth target in 2022. BANGKO SENTRAL NG PILIPINAS — On Thursday, BSP Governor Benjamin Diokno said that he’s confident the Philippines could still achieve its growth target of 7% to 9% in 2022 despite the recent surge in coronavirus cases. In … Read more