As part of Chinabank’s 105th anniversary celebration, Chinabank recently launched its new “Take 5 this 105” promo, a limited-time offer that reduces the InstaPay inter-bank transfer fee from an already industry best ₱10.00 to just ₱5.00. The promotion, which runs from October 1 to...
The Bank of the Philippine Islands (BPI) has announced a standardized ₱15 service fee for all inter-institution cash-in transactions made via InstaPay, effective Oct. 1. In a statement, the Ayala-led bank said the new fee will apply to all cash-in transfers, including those sent to popular...
Digital payment transactions via PESONet and InstaPay increased by 51.5 percent to ₱2 trillion in June this year, from ₱1.32 trillion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported. This represents a ₱680-billion increase from June 2024, according to the BSP data....
Nearly three months after launching a promotional ₱10 transaction fee, Ayala-led Bank of the Philippine Islands (BPI) has decided to keep the lower fee as a permanent feature for interbank fund transfers (IBFT) carried out via InstaPay, due to strong customer demand. The BPI has announced in a...
Digital payment transactions via PESONET and Instapay increased by 31.2 percent to ₱1.85 trillion in April, from ₱1.41 trillion in the same month last year. This is equivalent to a ₱440-billion increase from April 2024, according to the latest Bangko Sentral ng Pilipinas (BSP) data....
Digital payment transactions via PESONet and InstaPay increased by nearly 45 percent to ₱1.85 trillion in March from ₱1.28 trillion in the same month last year. This is equivalent to a ₱570 billion increase from March 2024, according to the Bangko Sentral ng Pilipinas (BSP) data. Similarly,...
Digital payment transactions via PESONet and InstaPay increased by over 34 percent to ₱1.65 trillion in Febraury from ₱1.23 trillion in the same month last year. This is equivalent to a ₱420 billion increase from February 2024, according to the Bangko Sentral ng Pilipinas (BSP) data. However,...
The Bank of the Philippine Islands (BPI) changed on Feb. 13 how its customers load their GCash and Maya accounts through its app. Instead of directly topping them up, they now have to use the "Transfer to Another Bank" option. This might seem like an extra step, and it also comes with an additional...
Inter-bank network BancNet's switched transactions soared to over two billion last year, reflecting a 41 percent increase driven by the continued popularity of digital fund transfers and payments. According to BancNet, the electronic payments network processed a total of 2.37 billion switched...
The central bank said all eligible financial institutions (FIs) encountering timing mismatches in their transactions via the peso real-time gross settlement (RTGS) payment system can now avail of the fully-automated intraday settlement facility (ISF) to prevent gridlocks. The Bangko Sentral ng...
Realtime money transfers through InstaPay reached over 97 million transactions last December according to InstaPay operator BancNet. Its CEO Elmarie S. Reyes said that this record-breaking volume set a new milestone for the service as it grew by 13 million, or nearly 16%, from the previous month,...
Tonik and Instapay Philippines’ first neobank, Tonik, is now the first officially BSP-recognized and licensed digital bank in the country to fully implement InstaPay services on its mobile app. With the integration of InstaPay, customers can now send and receive real-time transactions for up to...
