The Bangko Sentral ng Pilipinas (BSP) and the payments industry are rolling out new tools to give Filipinos more ways to transfer money between banks and e-wallets, automate recurring bills, and make higher-value business payments, according to a report by Philstar Biz.
The initiative expands the country's digital payment infrastructure, enabling faster and more convenient transactions. Among the new features are improved interbank fund transfers and enhanced automated payment options for regular bills.
The move is part of the BSP's broader push to boost financial inclusion and reduce cash dependency, aligning with its digital payment transformation roadmap. No specific launch dates were disclosed, but the upgrades are expected to roll out in the coming months.