Digital payments surged past the ₱16-trillion mark in the first half of the year, driven by the dramatic spike in transaction volumes as domestic banks and e-wallet providers aggressively slashed transfer fees. According to the latest data from the Bangko Sentral ng Pilipinas (BSP), total...
Philippine banks’ and e-wallets’ decision to waive or lower their interbank InstaPay and PESONet transfer fees has already boosted transaction volumes by up to 50 percent, a senior Bangko Sentral ng Pilipinas (BSP) official revealed. BSP Deputy Governor Mamerto E. Tangonan said in a One News...
BDO Unibank Inc. has eliminated transaction fees for its digital fund transfer channels, accelerating a margin-compressing race to zero among the country’s retail banks. The Sy family-controlled financial giant began notifying users through its mobile application that charges for money transfers...
The Bangko Sentral ng Pilipinas (BSP) has summoned commercial lenders that have failed to lower their digital fund transfer fees, demanding justification for transaction charges that regulators say violate new fairness guidelines. BSP Deputy Governor Mamerto E. Tangonan said the central bank called...
State-run Land Bank of the Philippines (Landbank) has waived fund transfer fees for digital transactions made through its online channels, joining a growing number of major banks and e-wallet providers that have eliminated or lowered transfer charges. Starting Tuesday, July 7, Landbank will make...
The Bangko Sentral ng Pilipinas (BSP) is delaying the selection of four new digital banking players as it seeks to reconcile conflicting regulatory tracks for different types of applicants. While the market anticipated the entry of the new digital lenders as early as the first quarter, BSP Governor...
Bangko Sentral ng Pilipinas Governor (BSP) Eli Remolona Jr. expects a broader wave of lenders to slash or eliminate fund transfer costs, following aggressive fee waivers by some of the country’s largest banking institutions ahead of a strict weekend regulatory deadline. Speaking at a BSP book...
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) will eliminate fees for its real-time digital fund transfers starting July 4, joining a broader industry push to spur electronic retail payments in the country. In a statement on Friday, July 3, RCBC said the lender will offer zero-fee transfers...
Department of Finance (DOF) Secretary and Land Bank of the Philippines (Landbank) Chairman Frederick D. Go has praised the move by Ayala-led Bank of the Philippine Islands (BPI) to waive electronic fund transfer fees across its digital channels, describing it as a step toward eliminating banking...
Ayala-led Bank of the Philippine Islands (BPI) will permanently eliminate transaction fees for digital fund transfers via InstaPay and PESONet starting July 1, following the central bank 's lifting of its cap on electronic payment pricing. The oldest lender in the Philippines is moving to...
Digital payment transactions coursed through PESONet and InstaPay surged to ₱13.18 trillion in the first five months of the year, with transaction volumes nearly tripling as Filipinos increasingly rely on digital channels for their daily needs. According to the latest data from the Bangko Sentral...
The Bangko Sentral ng Pilipinas (BSP) has lifted its five-year freeze on digital transfer fees, allowing lenders to adjust pricing for the country’s primary electronic fund channels. According to Memorandum No. M-2026-025, the Monetary Board (MB) approved “the lifting of the moratorium on...
