The BSP was granted authority to designate systemically important payment systems under the National Payment Systems Act, which was signed into law in 2018.
August 23, 2021The first draft policy covers governance policies for payment system operators. The second covers the local adoption of the PFMI for designated payment systems.
January 3, 2021The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
July 3, 2020The Philippine central bank has simplified the registration process for payment system operators, and created a new consolidated manual of regulations to facilitate compliance.
October 3, 2019The Philippine central bank has issued a draft circular to support its new mandate as the primary regulator for the country’s payment systems.
April 26, 2019