electronic money issuer

BSP Wants Higher Capital For Electronic Money Issuers

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BSP

BSP is set to increase the required minimum capital for electronic money issuers. BSP — The Bangko Sentral ng Pilipinas is set to increase the required minimum capital for an electronic money issuer (EMI) with transactions of PHP 25 billion or more from PHP 100 million to PHP 200 million. Also, the required capital will … Read more

BSP To Implement Two-Year Ban On All e-Money Applications

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BSP

The BSP will implement a two-year ban on all e-money applications. BSP — The Bangko Sentral ng Pilipinas will implement a two-year ban on all non-bank electronic money issuer (EMI) applications including those bank-owned EMIs starting December 16 in order to ensure a liquidity-strong digital payments sector. In a text message to Manila Bulletin last … Read more