BSP maintains moratorium on fees for Instapay, PESOnet transactions
BSP maintains moratorium on fees for Instapay, PESOnet transactions
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NewsTranscript
00:00 The Banco Central ng Pilipinas or BSP has announced it will maintain the moratorium on fees for the InstaPay and PasoNet digital payment services.
00:09 Financial institutions participating in these services are not allowed to increase their current fund transfer fees.
00:16 The BSP is encouraging Filipinos to actively use digital payments and is working with the industry to bring more people into the formal financial system.
00:25 The BSP will also collaborate with the payments industry to lower or eliminate fees for small electronic payments.
00:32 The moratorium on InstaPay and PasoNet fees will be lifted when zero fees for small e-payment transactions have been implemented.
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