BSP to launch new payment streamsIn a press briefing, BSP Deputy Governor Mamerto Tangonan said the central bank is targeting to launch the first use-case of RTP, the RTP Cash-in Service, in the second half of this year. In a press briefing, BSP Deputy Governor Mamerto Tangonan said the central bank is targeting to launch the first use-case of RTP, the RTP Cash-in Service, in the second half of this year. The RTP Cash-In Service will allow e-money users to top up their favorite e-money accounts using any bank or other e-wallet platforms seamlessly. Based on its 2023 Report on the Status of Digital Payments in the Philippines, the share of digital payments to total retail transactions jumped to 52.8 percent last year from 42.1 percent in 2022. Meanwhile, Tangonan said the BSP is working with the industry to pilot launch the Direct Debit facility this year.
