The Bangko Sentral ng Pilipinas (BSP) is planning a November launch of an automated clearing house under the National Retail Payment System (NRPS) that will allow batch electronic fund transfers. Advertisements“What we hope to launch in November is the first clearing house under the NRPS framework. There are several clearing houses, but the priority one is the PESO Net,” central bank Governor Nestor Espenilla Jr. told reporters. The account can be a bank account or an electronic wallet account provided by a non-bank financial institution,” he explained. Besides PESO Net, other clearing houses including Instapay will help facilitate financial transactions, he added.

Source: Manila Times October 23, 2017 17:26 UTC