Tag: payments
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BSP eyes use of QR code for transport payments
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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 “which shall…
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Digital payments account for half of retail transactions at end-2023
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THE PHILIPPINES achieved its target of digitizing 50% of all retail payments at the end of 2023, amid the rise in merchant payments, the Bangko Sentral ng Pilipinas (BSP) said.
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External debt payments fall by 20%
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THE PHILIPPINES’ external debt service burden fell by 19.8% as of end-April as principal payments declined, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data from the central bank showed that the country’s debt service burden on its external borrowings dropped to $4.64 billion in the January-April period…