are exploring offering their services to the Philippine market,<\/a> but would have to first secure registration with the BSP as OPS. Discussions showed that they function only as third-party technology service providers.<\/p>\n\u201c[They are] technology service providers, so it\u2019s up to the financial institution to assess them, kasi ang responsible sa BSP, \u2018yung financial institution. So if anything happens, the one accountable to us is PSP [payment service provider], so that\u2019s why they\u2019re being careful, maybe, although proven naman sa world,\u201d he said.<\/p>\n
(They\u2019re technology service providers, so it\u2019s up to the financial institution to assess them, because the entity responsible to the BSP is the financial institution. If anything happens, the one accountable to us is the PSP, so that\u2019s why they\u2019re being careful, maybe, although they are already proven worldwide.)<\/p>\n
“So ngayon, sabi namin, PSP, it’s your responsibility. Eh siguro because it’s their responsibility, baka talagang ine-evaluate nilang mabuti,” he added<\/p>\n
(So now, we said PSP, it’s your responsibility. Maybe because it’s their responsibility, they are evaluating it thoroughly.)<\/p>\n
Data from the BSP show that digital payments accounted for 57.4% of the total volume of monthly retail transactions, and 59% in terms of value in 2024, higher than the target of 52% to 54% set under the Philippine Development Plan 2023-2028.<\/p>\n
\u201cThese figures reflect the continued shift toward digital channels and the growing trust of Filipinos in using digital financial services,\u201d BSP Governor Eli Remolona Jr. said in his message in the central bank\u2019s 2024 Status of Digital Payments in the Philippines report.\u00a0\u2014 BM, GMA Integrated News<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"The Bangko Sentral ng Pilipinas (BSP) has deemed that mobile payment providers Apple Pay and Google Pay do…\n","protected":false},"author":3,"featured_media":116580,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[72950,72953,72952,45121,611,69015,72951,158,67,132,68],"class_list":{"0":"post-116579","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-apple-pay","9":"tag-business-and-industry","10":"tag-e-wallets","11":"tag-google-pay","12":"tag-mobile","13":"tag-mobile-payments","14":"tag-operators-of-payment-systems","15":"tag-technology","16":"tag-united-states","17":"tag-unitedstates","18":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114967007878616220","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/116579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=116579"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/116579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/116580"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=116579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=116579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=116579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}