{"id":20049,"date":"2024-08-06T03:08:34","date_gmt":"2024-08-06T03:08:34","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/bsp-eyes-use-of-qr-code-for-transport-payments\/"},"modified":"2024-08-06T03:08:34","modified_gmt":"2024-08-06T03:08:34","slug":"bsp-eyes-use-of-qr-code-for-transport-payments","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/bsp-eyes-use-of-qr-code-for-transport-payments\/","title":{"rendered":"BSP eyes use of QR code for transport payments"},"content":{"rendered":"
\n

\n

THE BANGKO SENTRAL ng <\/span>Pilipinas (BSP) is proposing to identify strategic use cases for its national QR code standard such as for transportation payments.<\/p>\n

In a draft circular, the BSP said it is seeking to introduce the payment use cases involving QR Ph for sectors such as transportation \u201cwhich shall be serviced by payment service providers (PSPs) without fees, including interbank charges, or free of charge to end-users.\u201d<\/span><\/p>\n

New sections are to be added to the Manual of Regulations for Payment Systems to include strategic payment use cases.<\/p>\n

The BSP defined strategic payment use cases as those that \u201csupport the achievement of the objectives outlined in national development plans and strategies.\u201d<\/span><\/p>\n

These also have a \u201cparticular focus on enhancing financial inclusion and modernizing key sectors of the national economy, which ultimately foster sustainable economic growth of the country.\u201d<\/p>\n

For a payment use case to be considered strategic, the BSP will also consider its impact, accessibility and inclusivity.<\/p>\n

\u201cStrategic payment use cases shall be interoperable, consistent with the principles under the Section 201 on the National Retail Payment System (NRPS) framework and created independently and separately from existing payment use cases.\u201d<\/p>\n

\u201cInteroperable payment use cases, which have already been established under the NRPS framework and are currently operating, cannot be converted into a strategic payment use case,\u201d it added.<\/span><\/p>\n

The strategic payment use cases shall also be of<\/span>fered to end-users without fees, including interbank charges, or free of charge, the BSP added.<\/p>\n

Under the draft circular, the central bank said that payment service providers must ensure that QR-enabled payments be \u201caccorded appropriate treatment in the <\/span>determination of applicable fees.\u201d<\/span><\/p>\n

\u201cPSPs offering interoperable QR-enabled payment services for strategic payment use cases\u2026 such as but not limited to the use of the national QR code standard for payments in the transportation sector, must provide these services without fees, including interbank charges, or free of charge to end users.<\/span><\/p>\n

\u201cPSPs shall ensure that the threats and vulnerabilities arising from their QR-enabled payment and f<\/span>inancial services are identif<\/span>ied, measured, monitored, and controlled accordingly,\u201d it added.<\/p>\n

QR Ph is the country\u2019s QR code standard based on the Europay-Mastercard-VISA (EMV) standard, a global standard for secure payments.<\/p>\n

The share of online payments in the total volume of monthly retail transactions rose to 52.8% in 2023 from 42.1% a year earlier. This surpassed the BSP\u2019s target of digitializing 50% of payments by end-2023.<\/span><\/p>\n

The central bank is targeting to achieve a 60-70% share of digital payments over total retail payments volume by 2028, in line with the Philippine Development Plan. \u2014 Luisa Maria Jacinta C. Jocson <\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing to identify strategic use cases for its national QR code standard such as for transportation payments. In a draft circular, the BSP said it is seeking to introduce the payment use cases involving QR Ph for sectors such as transportation \u201cwhich shall be serviced by payment service [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[5796,14644,7373,612,168,1360,1842,1356],"class_list":["post-20049","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bsp","tag-bworldonline","tag-code","tag-eyes","tag-for","tag-payments","tag-transport","tag-use"],"yoast_head":"\nBSP eyes use of QR code for transport payments - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BSP eyes use of QR code for transport payments - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing to identify strategic use cases for its national QR code standard such as for transportation payments. In a draft circular, the BSP said it is seeking to introduce the payment use cases involving QR Ph for sectors such as transportation \u201cwhich shall be serviced by payment service [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-06T03:08:34+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"BSP eyes use of QR code for transport payments\",\"datePublished\":\"2024-08-06T03:08:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/\"},\"wordCount\":432,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"keywords\":[\"bsp\",\"bworldonline\",\"code\",\"eyes\",\"for\",\"payments\",\"transport\",\"use\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/\",\"name\":\"BSP eyes use of QR code for transport payments - Energy Buzz\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\"},\"datePublished\":\"2024-08-06T03:08:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/bsp-eyes-use-of-qr-code-for-transport-payments\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BSP eyes use of QR code for transport payments\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#website\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"name\":\"Energy Buzz\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/energybuzz.ph\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\",\"name\":\"Energy Buzz\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"contentUrl\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/EnergyBuzzLogo.png\",\"width\":1315,\"height\":656,\"caption\":\"Energy Buzz\"},\"image\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BSP eyes use of QR code for transport payments - Energy Buzz","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/","og_locale":"en_US","og_type":"article","og_title":"BSP eyes use of QR code for transport payments - Energy Buzz","og_description":"THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing to identify strategic use cases for its national QR code standard such as for transportation payments. In a draft circular, the BSP said it is seeking to introduce the payment use cases involving QR Ph for sectors such as transportation \u201cwhich shall be serviced by payment service [\u2026]","og_url":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/","og_site_name":"Energy Buzz","article_published_time":"2024-08-06T03:08:34+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/#article","isPartOf":{"@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/"},"author":{"name":"admin","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892"},"headline":"BSP eyes use of QR code for transport payments","datePublished":"2024-08-06T03:08:34+00:00","mainEntityOfPage":{"@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/"},"wordCount":432,"publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"keywords":["bsp","bworldonline","code","eyes","for","payments","transport","use"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/","url":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/","name":"BSP eyes use of QR code for transport payments - Energy Buzz","isPartOf":{"@id":"https:\/\/energybuzz.ph\/#website"},"datePublished":"2024-08-06T03:08:34+00:00","breadcrumb":{"@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/energybuzz.ph\/bsp-eyes-use-of-qr-code-for-transport-payments\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/energybuzz.ph\/staging\/6915\/"},{"@type":"ListItem","position":2,"name":"BSP eyes use of QR code for transport payments"}]},{"@type":"WebSite","@id":"https:\/\/energybuzz.ph\/#website","url":"https:\/\/energybuzz.ph\/","name":"Energy Buzz","description":"","publisher":{"@id":"https:\/\/energybuzz.ph\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/energybuzz.ph\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/energybuzz.ph\/#organization","name":"Energy Buzz","url":"https:\/\/energybuzz.ph\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/","url":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","contentUrl":"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2023\/09\/EnergyBuzzLogo.png","width":1315,"height":656,"caption":"Energy Buzz"},"image":{"@id":"https:\/\/energybuzz.ph\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/energybuzz.ph\/#\/schema\/person\/344f8dbaaecf75e51367eef93f492892","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/136dede3a147ecd1a9946f78a827dcc4c82e31eece4650a789bbb3656cebe664?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/energybuzz.ph\/staging\/6915\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/20049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/comments?post=20049"}],"version-history":[{"count":0,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/posts\/20049\/revisions"}],"wp:attachment":[{"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/media?parent=20049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/categories?post=20049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energybuzz.ph\/staging\/6915\/wp-json\/wp\/v2\/tags?post=20049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}