A recent Philstar Biz report highlighted a Bangko Sentral ng Pilipinas (BSP) circular that took effect earlier this month, requiring all BSP-supervised financial institutions (BSFIs) to implement reasonable and cost-based pricing for digital fund transfers.
The circular aims to promote fair competition and reduce the cost burden on consumers, especially for small-value transactions. Under the new rules, fees must reflect the actual cost of providing the service, with transparency in pricing structures.
Industry analysts note that this regulatory move aligns with the central bank's broader push for financial inclusion and efficient digital payments. BSFIs are expected to adjust their systems and pricing models to comply, with the BSP monitoring adherence through regular reporting.