BSP rolls out consumer bill payment and P2P transfer services
Central bank also increases value limit for B2B transfers under existing system
The Central Bank of the Philippines (BSP) has launched new services to facilitate consumer bill payments and fund transfers, which it says will improve interoperability and lower fees.
In a statement on July 29, the BSP said the services would allow individuals to authorise automatic bill collections from their accounts and request other personal account holders to send them money. The limit for single payments made with an existing business-to-business transfer service would also increase ten
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