MariBank Philippines Inc. has officially secured a digital banking license from the Bangko Sentral ng Pilipinas (BSP), replacing the rural banking license under which it previously operated. The license upgrade was formalized through Circular Letter No. 2026-035, under which the Monetary Board (MB)...
The central bank is scrutinizing the pilot program by state-run Land Bank of the Philippines to eliminate convenience fees on digital payments to government agencies, assessing whether market dynamics alone will compel private commercial lenders to follow suit. The Bangko Sentral ng Pilipinas (BSP)...
Banknote withdrawals from the Bangko Sentral ng Pilipinas (BSP) slowed to single-digit growth last year from 12.5 percent in 2024, reflecting a possible shift toward digital channels for larger-value transactions as well as softer economic activity. “You could think of several reasons for that....
Domestic banks and e-wallets should expand their product offerings and reduce their reliance on digital transaction fees as a key revenue source, according to a senior official of the Bangko Sentral ng Pilipinas (BSP). This comes on the heels of the BSP’s move to summon non-compliant financial...
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...
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...
Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) are prohibited from entering into partnerships that would allow unlicensed third-party players to conduct electronic money (e-money) operations. “BSFIs shall not enter into any arrangement that results in another person...
